Charlotte Russe Holding Inc. (San Diego) announced a 10.4 percent increase in net sales for the third quarter ended June 25, 2005. Same-store sales decreased 0.9 percent.
Net sales for the first 39 weeks of fiscal 2005 were up 5.7 percent. Same-store sales decreased 4.8 percent.
“As expected, this year’s third quarter proved challenging because it was impacted by the earlier Easter, which shifted sales into the second quarter, and because of our strong comps last year,” said ceo Mark Hoffman. “While the quarter started out slower than expected in April, it finished stronger in June for both chains. Sales benefited from our decision to accelerate the wall presentation of denim in our stores.
“At Charlotte Russe,” said Hoffman, “the tops business improved into the back half of the third quarter as the assortment caught up with the bare embellished trends.
“At Rampage, as we had projected for some time, the success of the brand repositioning was evidenced by the return to positive comps during the months of May and June. With the positive momentum established during this past quarter, I look forward to continued comp increases from this chain in the coming months as we anniversary the downturn that occurred when we began the merchandise repositioning last August.”
As of June 25, Charlotte Russe was operating 388 mall-based specialty stores of fashionable, value-priced apparel and accessories targeting young women in their teens and twenties — 321 Charlotte Russe stores and 67 Rampage stores. A total of 28 new stores were opened during the first nine months of fiscal 2005, and the company expects to open up to 50 new stores during the fiscal year ending in September 2005.