Fashion | Fashion Bug, Catherines Parent To Shutter 240 Stores
The Pennsylvania-based parent of the Lane Bryant, Fashion Bug and Catherines chains will close more than 10 percent of its stores nationwide this year.
Charming Shoppes Inc. (Nasdaq: CHRS) said the closings will hit 240 of its 2,064 stores this year. About half of the stores to be shuttered will be its Fashion Bug nameplate, which has one store in Wichita and one in Derby.
Charming didn’t give specifics on which stores it will close, only saying they’re unprofitable.
The company also has two Lane Bryant and two Catherines stores in Wichita.
The store closings were only one piece of news the company unveiled in recent days. Charming promoted acting CEO Anthony Romano to a permanent role as president, CEO and board member, replacing James Fogarty , who resigned in October.
Romano spent eight years at Charming Shoppes early in his career, then 12 years at apparel retailer Ann Taylor Inc. He rejoined Charming in 2009 as executive vice president of global sourcing and business transformation. In October, he was promoted to chief operating officer.
Charming Shoppes
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