Charming Shoppes Inc. posted net income of $24.9 million for the fourth quarter, a 30% increase over net income of $19.2 million in the prior-year period.
The cataloger reported net sales of $874 million for the quarter ended Feb. 3, a 9% increase over net sales of $799.6 million last year.
The Bensalem, PA company’s direct marketing segment posted net sales of $148.2 million for the quarter, a 5% drop from net sales of $155.8 million in the prior-year period.
Management attributed these results to a decline in response rates from its customer mailing list, as well as decreased circulation for prospecting.
Separately, the firm named Lori Twomey president of Crosstown Traders, the firm’s direct-to-consumer business.
