Charlotte Russe Holding falls on disappointing Q3 profit outlook
Shares of specialty retailer Charlotte Russe Holdings, Inc. (Nasdaq:CHIC) are sagging on news before the opening of a third-quarter earnings forecast that’s short of analysts’ expectations. The San Diego-based company, which sells young women’s apparel, reported that it projects net income between $0.27 per share and $0.30 per share for the three months ending June 28. Analysts were looking for earnings of $0.41 per share.
“We anticipate the third quarter will be impacted by the shift of the Easter holiday and spring break periods,” CEO Mark Hoffman said in a statement.
At 1:51 p.m. ET, the stock had lost $2.64, or 13%, to $17.46. For detailed price information and recent news stories about Charlotte Russe Holdings, click CHIC.
