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Non-Tech : CHRS - CHARMING SHOPPES (FASHION BUG STORES)
CHRS 1.330-0.7%Dec 26 9:30 AM EST
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To: donald sew who wrote ()9/15/1998 3:11:00 PM
From: NewsTrader  Read Replies (1) of 128
 
(NewsTraders) -- Charming Shoppes Inc. (CHRS) warned in its Form 10-Q that it expects its previously disclosed elimination of its men's merchandise line to have a negative impact of about 6% on overall comparable stories sales for the fourth quarter of fiscal 1999 (year ending Jan. 31, 1999).

The company had previously said that it expected the elimination of the men's line to hurt fourth-quarter sales by about 5.5%.

Charming Shoppers reiterated its belief that third-quarter sales would be held back by about 4%due to the line closing.

Net sales of men's merchandise were $48 million in the fiscal year ended January 31,
1998, and are planned to be $15 million in Fiscal 1999.

As reported, Charming Shoppes expects to cease selling men's merchandise by the Fall of 1998, at which time it will begin to reposition the merchandise assortments in its stores.
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