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Stock of Charlotte Russe, which sells fashion merchandise to women in their teens and early 20s, is up 14.63% this morning (April 9) on the basis of better-than-expected results. The company, which has 487 stores, announced Wednesday that its adjusted third quarter earnings would beat Wall Street expectations by at least 50%. The stock has risen from Tuesday's close of $8.83 to today's $10.50. In its second quarter, sales in stores open at least a year dropped 8 percent, but profit margin was strong as the company controlled costs. Charlotte Russe put itself up for sale earlier this year. Other retailers generally reported downbeat results. Abercrombie & Fitch's March sales plunged 34 percent from a year ago. Neiman-Marcus sales were down almost 30% as upscale retailers were hit the hardest. Wal-Mart sales were up 1.4% (not including fuel) and Costco's were up 4%.

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Comments

WhatGoesAround April 9, 2009 @ 10:58 a.m.

I love the Charlotte Russe concept and the clothes, even though I am too old now to be able to wear them without looking ridiculous. I recall during my very first business trip to San Diego in 1990 enjoying the Southern California valley girl fantasy quality of the CR store . . . even then I was on the bleeding edge (at 35 years old) of their target customer. It was one of the many reasons (along with the girl band Wilson Phillips) that I moved to San Diego two years later. Now I wouldn't be able to afford to buy anything, even if I could wear the styles. I am happy to hear there is still a demographic in this country with disposable income . . . good for those young girls . . . but I digress . . .

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Don Bauder April 9, 2009 @ 2:52 p.m.

Response to post #1: Charlotte Russe fashion items are reasonably priced. The company does not go for the top of the market. Best, Don Bauder

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WhatGoesAround April 9, 2009 @ 4:15 p.m.

Don, I know they are reasonably priced, and that should tell you which direction my net worth went in the last 5 years. When I say "disposable income," I really mean "any income." Also, I am spreading the word to friends living outside of the San Diego region about your blog so they can remind themselves what principled journalism used to look like. Regards.

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Don Bauder April 9, 2009 @ 7:06 p.m.

Response to post #3: If you can't tell your disposable income from your income, you have taken a big hit. Sorry to hear about it. Best, Don Bauder

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pascal April 10, 2009 @ 8:35 a.m.

Don- slightly off topic here, but still "ailing economy"-related. I saw an item in the U-T today that several local TV stations had "more layoffs" this week. You've done a good job keeping us abreast of the woes facing the newspaper industry, but very little has been said about the shrinking audience, ad revenues and staffs of the broadcast media here and around the country as well... what gives?

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Don Bauder April 10, 2009 @ 9:56 a.m.

Response to post #5: Excellent criticism. The only excuse I can offer -- and it is a lame one -- is that I know the inside of the Copley organization and spent almost my entire career in the print media (Business Week, U-T and the Reader). I did do a lot of radio and TV when I was in San Diego, however, and do have some sources, although my best one, by far, died a bit ago. I should begin developing that beat. Thanks for the kick in the pants that I needed. Best, Don Bauder

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Burwell April 10, 2009 @ 10:57 p.m.

Don appeared several times on radio with Roger Hedgecrock. It must have been difficult for both of them, since Don wrote extensively of Hedgecrock's involvement with J. David Dominelli. Hedgecrock recently fired his producer, Jimmy Valentine, after he dumped the local format and took the show national. Maybe Don should contact Jimmy and try get the scoop on Hedgecrock.

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Don Bauder April 11, 2009 @ 8:34 a.m.

Response to post #7: Great minds run in similar channels. I have already contacted Jimmy Valentine, and I regularly read his Dehesa Valley Gazette, in which he often mentions Hedgecock. I worked with Valentine when I was on KUSI back in the early 1990s and respect him greatly. I am hoping that something comes of this, but Jimmy hasn't been ready to go. I can remember being on Hedgecock's show once when he was announcing, and another time when Jimmy was announcing, but there may have been other times. I was on a number of panels with Hedgecock in front of SD audiences. We never got into a fight. Best, Don Bauder

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