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San Diego's Charlotte Russe Holding, chain retailer of value fashion for younger women, reported today (Jan. 17) that its first quarter sales rose almost 14 percent, and its same-store sales, or sales in stores open at least a year, rose 1.5 percent. That's quite good, because most retailers are deep in the doldrums. The company said it would earn 55 or 56 cents a share in the quarter, up from a previous forecast of 47 cents to 50 cents. On a day in which stocks got hammered (the Dow Jones Industrial Average was down more than 300 points), Charlotte Russe stock rose 21 cents to $14.56.

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Comments

Anon92107 Jan. 17, 2008 @ 2:30 p.m.

Is this good news for San Diego economically?

Will this mean a lot of good jobs in San Diego? (Or are their products made in communist Chinese sweat shops?)

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Don Bauder Jan. 17, 2008 @ 3:30 p.m.

Response to post #1: The company's headquarters are in SD and there are a number of stores in the area. But it is not a big employer locally. Best, Don Bauder

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Anon92107 Jan. 18, 2008 @ 1:59 a.m.

Response to post #2: OK Don, so Charlotte Russe is headquartered in San Diego but they really don’t really provide manufacturing jobs to San Diego X & Y gens who buy their products.

Next, since you didn’t answer my question about their using Chinese communist sweatshops, I must assume they do because that’s how "American Manufactering" is manufactured these days, and the next questions are on just how does Charlotte Russe really make their profits?:

  1. Does Charlotte Russe add the usual 1000% magnitude markup to the costs of Chinese communist sweatshop manufacturing? (Remember that sweatshops and child labor exploitation are the reasons we have “Big Labor” in America, now that kind of thing is done in china where they can exclude American labor.)

  2. How much of their profit comes at the expense of increased inflation in America, especially for X & Y gen customers they don’t even employ to manufacture their products?

Isn’t capitalist-communism great or what, or should it be called communist-capitalism?

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Don Bauder Jan. 18, 2008 @ 7:51 a.m.

Response to post #3: I don't know how much of Charlotte Russe products are made in China. This information is often available in SEC filings. I suggest you try to get a 10-K online and get that information. The ticker symbol is CHIC. If you can't find it, let me know. I doubt seriously that the clothing is made in the U.S. Very little is. But it doesn't have to be China. It may be Guatemala, etc. Best, Don Bauder

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Anon92107 Jan. 18, 2008 @ 11:53 a.m.

Response to post #4: The frustrating thing beyond the hideous loss of opportunities and jobs for X & Y from exporting production is that inflation is already out of hand for clothing, etc. because of stock market expectations for quarterly report performance, etc.

I really don't think that consumers save so much money from "low cost" foreign manufacturing keep B.S.ing us with, the reality is that they just keep the labor costs down and they can keep their profits up by inflating prices to meet "expectations."

So we already have outrageous inflation in spite of the interest rates, and the government stats really don't reflect the degree of pain consumers are suffering by a long shot.

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Don Bauder Jan. 19, 2008 @ 9:40 a.m.

Response to post #4: Profits as a percentage of GDP are at an all-time high. Corporate CEO pay is close to 400 times the average employee pay -- up from about 90 in the early 1990s. Increasingly, the income and wealth are skewed to the supper 1/2 of 1 percent, but trickle down economics doesn't work. Best, Don Bauder

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Anon92107 Jan. 19, 2008 @ 12:07 p.m.

Response to above post: Pain and Suffering must be reaching an all-time high not seen since the Great Depression.

Corruption and incompetence of our elected local, state and federal politicians like Murphy, Sanders, Dumanis, Greer, Susan Davis, Duke Cunningham et al, must also be at an all-time high following in the traditions of Tammany Hall and Richard J. Daley machine politics.

So health, economy, education, jobs, environment, moral values, budget deficit and a never-ending number of Millennial generation problems are overwhelming them and America to the point where local, state and federal corruption and incompetence are destroying the American way of life as the ultimate legacy of Degenerations.

Meanwhile far too many blood sucking corporations like Charlotte Russe are sucking the life blood right out of their own customers with outrageous profits and exportation of jobs that are destroying what is left of the American economy.

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Don Bauder Jan. 19, 2008 @ 1:25 p.m.

Response to above post: pain and suffering are running high -- yes. Best, Don Bauder

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