BENSALEM, Pa., April 21 /PRNewswire-FirstCall/ -- Charming Shoppes, Inc.
(Nasdaq: CHRS) today announced that it has filed an investor presentation with
the Securities and Exchange Commission ("SEC") in connection with the
Company's 2008 Annual Meeting of Shareholders, which is scheduled for
Thursday, May 8, 2008. Charming Shoppes' Board of Directors recommends
shareholders vote FOR Charming Shoppes' experienced and highly-qualified
directors -- Dorrit J. Bern, Alan Rosskamm and M. Jeannine Strandjord -- on
the GOLD proxy card. The investor presentation is available under the
"Investor Relations / Management Presentations" section of the Company's
website at: http://www.charmingshoppes.com or at the SEC's website at
www.sec.gov.
As noted in its presentation:
-- Charming Shoppes is committed to being the leader in women's plus-size
apparel, and its focused multi-brand, multi-channel strategy is the
right plan to create long-term shareholder value.
-- Charming Shoppes has a highly-experienced Board and management team
with significant retail industry expertise. It is the right team to
implement the Company's strategic plan.
-- Charming Shoppes' Board and management team have a proven record of
navigating challenging retail and economic environments and
repositioning the Company to gain market share and grow profitability.
-- The dissident's nominees have limited relevant experience and bring no
new ideas to Charming Shoppes.
Charming Shoppes shareholders who have any questions or need assistance
voting their GOLD proxy card should contact MacKenzie Partners, Inc., which is
assisting the Company in this matter, toll-free at (800) 322-2885 or
charming@mackenziepartners.com.
At February 2, 2008, Charming Shoppes, Inc. operated 2,409 retail stores
in 48 states under the names LANE BRYANT(R), FASHION BUG(R), FASHION BUG
PLUS(R), CATHERINES PLUS SIZES(R), LANE BRYANT OUTLET(R), PETITE
SOPHISTICATE(R) and PETITE SOPHISTICATE OUTLET(R). Apparel, accessories,
footwear and gift catalogs, including the following titles, are operated by
Charming Shoppes' Crosstown Traders: Lane Bryant Woman, Old Pueblo Traders,
Bedford Fair, Willow Ridge, Lew Magram, Brownstone Studio, Intimate Appeal,
Monterey Bay Clothing Company, Coward Shoe and Figi's. Please visit
http://www.charmingshoppes.com for additional information about Charming
Shoppes, Inc.
Additional Information
On April 2, 2008, Charming Shoppes, Inc. filed a definitive proxy
statement with the Securities and Exchange Commission (the "SEC") in
connection with the 2008 Annual Meeting of Shareholders of Charming Shoppes,
Inc., and began the process of mailing the definitive proxy statement and a
GOLD proxy card to shareholders. Charming Shoppes' shareholders are strongly
advised to read Charming Shoppes' proxy statement as it contains important
information. Shareholders may obtain an additional copy of Charming Shoppes'
definitive proxy statement and any other documents filed by Charming Shoppes
with the SEC for free at Charming Shoppes' website
http://www.charmingshoppes.com and at the SEC's website at http://www.sec.gov.
Copies of the definitive proxy statement are available for free. In addition,
copies of Charming Shoppes' proxy materials may be requested at no charge by
contacting MacKenzie Partners, Inc. at 1-800-322-2885 or via email at
charming@mackenziepartners.com. Detailed information regarding the names,
affiliations and interests of individuals who are participants in the
solicitation of proxies of Charming Shoppes' shareholders is available in
Charming Shoppes' definitive proxy statement filed with SEC on April 2, 2008.
Forward-Looking Language
This press release contains certain forward-looking statements concerning
the Company's operations, performance, and financial condition. Such
forward-looking statements are subject to various risks and uncertainties that
could cause actual results to differ materially from those indicated. Such
risks and uncertainties may include, but are not limited to: the failure to
effectively implement the Company's plans for consolidation of the Catherines
Plus Sizes brand, a new organizational structure and enhancements in the
Company's merchandise and marketing, the failure to generate a positive
response to the Company's new Lane Bryant catalog and the Lane Bryant credit
card program, the failure to implement the Company's business plan for
increased profitability and growth in the Company's retail stores and
direct-to-consumer segments, the failure to successfully implement the
Company's expansion of Cacique through new store formats, the failure of
changes in management to achieve improvement in the Company's competitive
position, the failure to successfully implement the Company's integration of
operations of, and the business plan for, Crosstown Traders, Inc., adverse
changes in costs vital to catalog operations, such as postage, paper and
acquisition of prospects, declining response rates to catalog offerings,
failure to maintain efficient and uninterrupted order-taking and fulfillment
in our direct-to-consumer business, changes in or miscalculation of fashion
trends, extreme or unseasonable weather conditions, economic downturns,
escalation of energy costs, a weakness in overall consumer demand, failure to
find suitable store locations, increases in wage rates, the ability to hire
and train associates, trade and security restrictions and political or
financial instability in countries where goods are manufactured, the
interruption of merchandise flow from the Company's centralized distribution
facilities, competitive pressures, and the adverse effects of natural
disasters, war, acts of terrorism or threats of either, or other armed
conflict, on the United States and international economies. These, and other
risks and uncertainties, are detailed in the Company's filings with the
Securities and Exchange Commission, including the Company's Annual Report on
Form 10-K for the fiscal year ended February 2, 2008 and other Company filings
with the Securities and Exchange Commission. Charming Shoppes assumes no duty
to update or revise its forward-looking statements even if experience or
future changes make it clear that any projected results expressed or implied
therein will not be realized.
SOURCE Charming Shoppes, Inc.