Charming Shoppes

Last updated
Charming Shoppes, Inc.
Industry Retail
Founded1940;84 years ago (1940)
Defunct2012;12 years ago (2012)
FateMerger with Ascena Retail Group
Headquarters Bensalem, Pennsylvania, U.S.
Key people
Jim P. Fogarty - President and Chief Executive Officer
Products Woman's clothing
RevenueIncrease2.svg$811 Million USD (2008)
Number of employees
10,300 (2008)
Parent Ascena Retail Group
(2012–present)
Subsidiaries Lane Bryant
Petite Sophisticate
Catherines
Website www.charmingshoppes.com

Charming Shoppes is a specialty and plus size clothing retail holding company based in Bensalem, Pennsylvania; a suburb of Philadelphia. Its subsidiaries include Lane Bryant, Cacique, Fashion Bug, and Catherines Plus. [1] Clothes were sold from over 2300 retail stores in the United States, as well as numerous catalogs and online sites. [2] In 2012, the company and assets were acquired by Ascena Retail Group.

Contents

History

Charming Shoppes was founded in 1940, it went public in 1971, [3] and was ranked 927th on the 2012 Fortune 1000. [4] On May 2, 2012, Ascena Retail Group, the parent company of DressBarn, announced that it would acquire Charming Shoppes with a $900 million transaction through a combination of cash in hand and $325 million of borrowings from credit facilities. [1] [5] [6]

Services and products

The Company's operation were divided into two segments: Retail Stores and Direct-to-Consumer.

Defunct brands

A Fashion Bug store at a strip mall in Hillsboro, Oregon Fashion Bug at the Esplanade - Hillsboro, Oregon.JPG
A Fashion Bug store at a strip mall in Hillsboro, Oregon

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References

  1. 1 2 Staff (May 2, 2012), "Charming Shoppes to be sold for $890M", Philadelphia Business Journal (Morning ed.), retrieved May 27, 2012
  2. Charming Shoppes catalogs Archived November 5, 2006, at the Wayback Machine
  3. Charming Shoppes history Archived December 21, 2011, at the Wayback Machine
  4. "Charming Shoppes, Inc". Fortune. Retrieved 20 September 2019.
  5. James Palczynski; Gayle M Coolick; James McCusker, eds. (May 2, 2012), Ascena Retail Group, Inc. Reaches Agreement to Acquire Charming Shoppes, Inc. (press release), Thomson Reuters , retrieved May 27, 2012
  6. "Ascena Retail Group, Inc. Completes Acquisition of Charming Shoppes, Inc. - Business Wire". businesswire.com. 15 June 2012. Retrieved 28 May 2015.
  7. 1 2 "Charming Shoppes, Inc.: quotes & news - Google Finance". google.com. Retrieved 28 May 2015.
  8. "Ascena Retail Group Announces Closing of Figi's Sale". Benzinga. Retrieved 28 May 2015.

Sources