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Charlotte Russe Says 1Q Profit to Fall
Charlotte Russe Sees Lower Fiscal 1st-Quarter Profit, Declining Same-Store Sales
November 14, 2007: 06:25 PM EST

NEW YORK (Associated Press) - Clothing retailer Charlotte Russe Holding Inc. said Wednesday it expects fiscal first-quarter profit to decline from last year in part due to weak consumer spending.

The company expects to report earnings from continuing operations in the range of 47 cents to 50 cents, down from 55 cents per share for the first quarter in fiscal 2007.

Analysts, polled by Thomson Financial, are forecasting earnings of 48 cents per share.

Charlotte Russe said investors should expect flat to low single-digit decline in same-store sales in its fiscal first quarter.

Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

Shares of Charlotte Russe added $2.31, or 16.2 percent, to $16.60 in after-hours trading, after falling 6 cents to close at $14.29