form8knov82007q3projrelease.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 Or 15(d) of
The
Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported) November 8,
2007
CHARMING
SHOPPES, INC.
|
(Exact
name of registrant as specified in its
charter)
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PENNSYLVANIA
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000-07258
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23-1721355
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(State
or other jurisdiction
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(Commission
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(IRS
Employer
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of
incorporation)
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File
Number)
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Identification
No.)
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450
WINKS LANE, BENSALEM, PA
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19020
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code (215)
245-9100
NOT
APPLICABLE
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(Former
name or former address, if changed since last
report.)
|
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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|
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Item
2.02. Results of Operations and Financial
Condition.
On
November 8, 2007, we issued a press release announcing, among other things,
a
series of initiatives designed to increase shareholder value and providing
a
business review and update to earnings guidance for our third quarter ended
November 3, 2007 and our fourth quarter ending February 2, 2008. The
press release is attached as Exhibit 99.1 to this report.
The
press
release contains certain forward-looking statements concerning our 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 our plan
for consolidation of the Catherines Plus Sizes brand and a new organizational
structure; the failure to generate a positive response to our new Lane Bryant
catalog and Lane Bryant credit card program; the failure to implement our
business plan for increased profitability and growth in our retail stores and
direct-to-consumer segments; the failure to successfully implement our expansion
of Cacique through new store formats; the failure of changes in management
to
achieve improvement in our competitive position; the failure to successfully
implement our 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 our 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 our filings with the Securities and Exchange Commission, including
our Annual Report on Form 10-K for the fiscal year ended February 3, 2007 and
our other filings with the Securities and Exchange Commission. We
assume no duty to update or revise our forward- looking statements even if
experience or future changes make it clear that any projected results expressed
or implied therein will not be realized.
In
accordance with general instruction B.2 to Form 8-K, the information included
in
this Item 2.02 and the attached Exhibit 99.1 shall be deemed to be “furnished”
and shall not be deemed to be “filed” with the Securities and Exchange
Commission for purposes of Section 18 of the Securities Exchange Act of 1934,
as
amended.
Item
7.01. Regulation FD Disclosure.
The
information included in Item 2.02 of this report is incorporated into this
Item
7.01 by reference.
On
November 8, 2007, we also issued a press release announcing that our Board
of
Directors has authorized a new $200 million share repurchase
program. The press release is attached as Exhibit 99.2 to this
report.
In
accordance with general instruction B.2 to Form 8-K, the information included
in
this Item 7.01 and the attached Exhibit 99.2 shall be deemed to be “furnished”
and shall not be deemed to be “filed” with the Securities and Exchange
Commission for purposes of Section 18 of the Securities Exchange Act of 1934,
as
amended.
Item
9.01. Financial Statements and Exhibits.
Exhibit
No.
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Description
|
|
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99.1
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Charming
Shoppes, Inc. press release dated November 8, 2007.
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|
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99.2
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Charming
Shoppes, Inc. press release dated November 8,
2007.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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CHARMING
SHOPPES, INC.
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(Registrant)
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|
|
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Date:
November 8, 2007
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/S/ERIC
M. SPECTER
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Eric
M. Specter
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Executive
Vice President
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Chief
Financial Officer
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EXHIBIT
INDEX
Exhibit
No.
|
Description
|
|
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99.1
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Charming
Shoppes, Inc. press release dated November 8, 2007.
|
|
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99.2
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Charming
Shoppes, Inc. press release dated November 8,
2007.
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