Charming Shoppes Posts 3Q Loss

Charming Shoppes Inc. said Wednesday that it swung to a $3.6 million loss in its third quarter and lowered earnings expectations for its current fiscal year.

Sales in the quarter ending Nov. 3 were down 4% to $669.4 million, compared to $695.3 million in the earlier period. Same-store sales were down 8%

Charming Shoppes president, CEO and chairman Dorrit J. Bern said the company was responding to the disappointing performance by improving merchandise and marketing, introducing a loyalty and rewards credit program for Lane Bryant customers, reducing inventory and taking other steps.