Charming Shoppes, Inc. Announces Senior Management Promotion |
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By: Charming Shoppes, Inc. Posted: 2006-09-02 23:55:54 |
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Charming Shoppes, Inc., (Nasdaq: CHRS), a leading multi-brand, multi-channel specialty apparel retailer specializing in women's plus-size apparel, announced a senior management promotion today.
The Company is pleased to announce the promotion of Edwin A. Neumann to Senior Vice President, Chief Financial Officer, Business Strategy and Multi- Channel Integration for Crosstown Traders. In this new position, Ed will be responsible for directing Crosstown Traders' finance and strategic planning functions, and multi-channel integration opportunities with Charming Shoppes' various operating divisions. As part of his multi-channel role, he will work actively with the Company's e-commerce organization to operationally enhance existing Crosstown e-commerce sites and ensure the efficient launch and operation of future sites. Ed will report to Steven A. Lightman, President of Crosstown Traders. Prior to accepting this new assignment, Ed served Charming Shoppes as Vice President of the Company's shared business services organization, a position he has held since the inception of the Company's Business Service Center in 2002. A graduate of West Chester University in West Chester, PA, Ed began his career at Charming Shoppes as Vice President, Internal Audit in 2001. Prior to joining Charming Shoppes, Ed held financial management positions at NovaCare, Crown Cork & Seal, and Ernst & Young. Commenting on today's announcement, Dorrit J. Bern, Chairman, CEO and President of Charming Shoppes said, "Since joining Charming Shoppes, Ed has made a significant contribution to our standard of operational excellence, and was instrumental in the development of our Business Service Center, which serves the operational needs of all of our business units. Additionally, Ed has been responsible for overseeing integration activities at Crosstown Traders since our June 2005 acquisition of Crosstown, and is highly knowledgeable of their operating processes. In this new role, Ed will have the opportunity to apply his financial and operational management skills toward enhancing our multi-channel opportunities within Charming Shoppes. I am extremely pleased to congratulate Ed on his promotion to this new position." Echoing Bern's sentiments, Steven A. Lightman, President of Crosstown Traders added, "Ed has been an important and valued partner over the last year through many of our integration activities. I look forward to working closely with Ed, and welcome him to the Crosstown team." Charming Shoppes, Inc. operates 2,317 retail stores in 48 states under the names LANE BRYANT(R), FASHION BUG(R), FASHION BUG PLUS(R), CATHERINES PLUS SIZES(R), and LANE BRYANT OUTLET(TM). Apparel, accessories, footwear and gift catalogs, including the following titles, are operated by Charming Shoppes' Crosstown Traders: Old Pueblo Traders, Bedford Fair, Willow Ridge, Lew Magram, Brownstone Studio, Regalia, Intimate Appeal, Monterey Bay Clothing Company, Coward Shoe and Figi's. This release contains certain forward-looking statements concerning the Company's operations, performance, and financial condition. These forward- looking statements include statements regarding future performance, including the Company's dependence on key personnel. 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: failure to implement the Company's business plan for entry into the outlet store distribution channel, 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 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, 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 its 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 January 28, 2006 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. |
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