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Friday, Jan 27, 2023
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Net Loss, New Faces at Charlotte Russe

Charlotte Russe Holding Inc. reported a net loss of $6.6 million or 32 cents a share for its fourth fiscal quarter ended Sept. 27, despite an 8.6 percent increase in sales to $206.7 million.

One year ago the company reported quarterly net income of $8.4 million or 33 cents per share on net sales of $190.3 million.

Charlotte Russe reported its financial results Nov. 12.

Net income for the company’s fiscal year was $18.2 million, down from $36.3 million the year before.

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The women’s retail clothier also announced that it has named a slate of new executives.

John D. Goodman, formerly president and CEO of Mervyn’s, was named CEO.

Emilia Fabricant, formerly president and chief merchandising officer of Babystyle, was tabbed to be president and chief merchandising officer, while Frederick G. Silny, formerly senior vice president and chief financial officer of Guess Inc., was named executive vice president and chief financial officer.

Goodman, Fabricant and Silny will also join the Charlotte Russe board of directors.

In after-hours trading on Nov. 12, the company’s stock was trading at $8.06 a share, down 6 cents from a close of $8.15. The company’s Nasdaq symbol is CHIC.

, Connie Lewis

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