Charming Shoppes reports 2Q loss

BENSALEM, Pa. Charming Shoppes reported a loss from continuing operations of $3.7million, or 3 cents per diluted share for the second quarter. This compares to income from continuing operations of $20.9 million, or 16 cents per diluted share for the same period last year.

Net sales from continuing operations for the second quarter decreased 7% to $648.6 million, compared to net sales from continuing operations of $694.4 million for the same period last year.

Commenting on sales and operating results for the quarter, Alan Rosskamm, chairman and interim ceo of Charming Shoppes, stated, "As we manage through this challenging environment, it has been our strategy to operate with leaner inventories, execute on cost savings and streamlining opportunities, and realign our businesses in order to focus our energies on our core brands - Lane Bryant, Fashion Bug and Catherines.