Wednesday, Charming Shoppes Inc. (CHRS) said its third-quarter net loss narrowed to $48.36 million or $0.42 per share from $83.76 million or $0.73 per share in the previous year. GAAP loss from continuing operations narrowed to $48.36 million or $0.42 per share from $59.88 million or $0.52 per share in the prior year period.
On a non-GAAP basis, loss from continuing operations before income tax narrowed to $43.4 million, or $0.37 per share, from $71.7 million, or $0.62 per share in the year-ago period. On average, 3 analysts polled by Thomson Reuters expected the company to report a loss of $0.13 per share for the quarter.
Net sales for the quarter declined 16.8% to $460.237 million from $553.06 million in the comparable period. Two analysts estimated revenues of $486.03 million for the quarter.
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