(Source: Datamonitor)
Charlotte Russe Holding, a retailer of apparel and accessories, has reported net sales of $191.2 million for the second quarter ended March 28, 2009, a 3.3% increase compared to $185.1 million in the same period of fiscal 2008.
Comparable store sales for the second quarter of fiscal 2009 declined 8%, in line with prior guidance of a mid- to high-single digit decline, and versus a comparable store sales increase of 2.5% in the second quarter of fiscal 2008.
Diluted loss per share is expected to be in the range of $0.06 to $0.03, which compares to diluted earnings per share of $0.17 in the second quarter of fiscal 2008, or $0.19 per diluted share on a non-GAAP basis after excluding an impairment charge in the period of $0.8 million.
John Goodman, CEO of Charlotte Russe Holding, said: "We are pleased to report better than expected preliminary earnings results despite the difficult retail climate and the negative impact of the Easter shift. The results reflect our actions to control inventories, limit promotional activity and generate improved full-price sell through."
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