I take a particular interest in Charlotte Russe because their headquarters are here in San Diego. Hopefully one day I'll make take a field trip and visit the office to see how the fashion company works. The company ended their third quarter of fiscal 2006 on June 24, 2006 and today announced their results.
Mark Hoffman, CEO, remarked: "The Charlotte Russe stores, our core brand, continued to regain market share during the third quarter of fiscal 2006 with an 18.2% increase in comparable store sales. This marks the fourth consecutive quarter of double-digit comp sales increases for the Charlotte Russe stores; and, on a trailing 12-month basis, comparable stores sales rose 16.4% for Charlotte Russe only. We are successfully rebuilding our average store volumes and improving operating margin which, on a year-to-date basis, has risen from 3.6% to 7.3% of sales during fiscal 2006."1
I can attest that Charlotte Russe is definitely gaining ground in the junior fashion arena. Every time I shop in that store at Fashion Valley Mall, there's a line to Tim-buck-too waiting to pay. I do have to say that the store is well stocked, although a little bit crowded at times. But they offer a vast selection of accessories, which I know are a big profit maker in retail.
Charlotte Russe Holding Inc. (CHIC) is a fashion retailer that provides apparel and accessories for teenage girls and young women. The company plans to open 40 new stores this year and 50 or more new stores in 2007.
Comment Preview