September 1, 2011, 5:21 PM

The web grows 17% for Charming Shoppes in Q2

Comparable-store sales increased 1%.

Mark Brohan

Research Director

Lead Photo

 

Total sales declined, but women’s clothing apparel retailer Charming Shoppes Inc. reported higher web sales in the second quarter.

 For the second quarter ended July 30, Charming Shoppes Inc., No. 132 in the Internet Retailer Top 500 Guide, posted:

  • An increase in web sales of 16.7% to $35.6 million from $30.5 million in the second quarter of 2010.
  • A decrease in total sales of 3.6% to $499.2 million from $517.6 million.
  • An increase in comparable-store sales of 1%.
  • A net loss of $1.9 million compared with a net loss of $8.6 million in the second quarter of 2010.

Internet Retailer calculates the web accounted for 7.1% of total sales compared with 5.9% in the prior year.

“Our business plans included significantly reduced levels of summer clearance merchandise,” says CEO Anthony Romano. “As a result, traffic and transactions decreased, although somewhat more than we had planned.”

For the first two quarters Charming Shoppes reported:

  • An increase in web sales of 16.4% to $72.3 million from $62.1 million in the first two quarters of 2010.
  • A decrease in total sales of 1.8% to $1.004 billion from $1.022 billion.
  • An increase in comparable-store sales of 1%.
  • Net income of $24.1 million compared with a net loss of $4.7 million in the first half of 2010.

Internet Retailer calculates the web accounted for 7.2% of total sales compared with 6.1% in the prior year.

“As we enter the second half, our fall inventory is down in both dollars and units, according to plan, and as compared to the year-ago period. We will continue our disciplined inventory management as we enter the third quarter and have planned improved inventory turns as compared to the prior year,” says chief financial officer Eric Specter.

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