Management hopes the closings, along with other measures, will bring an eventual $100 million to $125 million in cost reductions at the retailer. "We feel we are playing strong defense in this brutal retail environment," said Alan Rosskamm, chairman and interim chief executive officer, during the company's third-quarter conference call.

The environment has been brutal to Charming Shoppes lately. The retailer posted a $23.7 million loss from continuing operations during the quarter. Net sales fell 8% from the same period last year, falling to $553.1 million.

Same-store sales fell 10% year over year each at the 913-unit Lane Bryant and the 464-store Catherine's Plus chains. Fashion Bug's dropped 9% during the period. Management also said that the company's goal is to be more fashion oriented and "less driven by commodity product."