Charlotte Russe skids to 52-week low on downgrade to ‘sell;’ CFO steps down
Charlotte Russe Holding Inc. (Nasdaq:CHIC) has sunk more than 22% to a 52-week low today after Roth Capital downgraded the clothing retailer to “sell” from “hold.” Additionally, the company announced after Friday’s close its chief financial officer, Patti Johnson, would step down effective Aug. 14. Interim CEO Len Mogil will also take on the role of interim CFO.
At 11:52 a.m. ET, shares are at $10.04, down about $2.90 from Friday’s close. Trading volume has skyrocketed to more than 2 million shares, well above the average of 597,000 shares. Shares skidded to a 52-week low of $9.90 just after the opening. The stock has ranged from $9.90 to $20.61 during the past year.
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