Charming Shoppes Inc. posted a net loss of $3.6 million for the third quarter, compared to net income of $19.4 million in the prior year.
The Bensalem, PA firm attributed these results to “lower than planned sales and a decline in gross margins.”
The cataloger and retailer reported net sales of $669.4 million for the quarter ended Nov. 3, a 4% decline from $695.3 million last year.
The firm posted net direct marketing sales of $79 million for the quarter, a 1% drop from $79.8 million in the prior year.
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