Charming Shoppes 'Ferociously' Works on Rent Breaks

BENSALEM, PA-Executives at Charming Shoppes, the parent company of Lane Bryant and other women’s plus-sized chains, are zeroing in on getting rent reductions from landlords after closing 162 stores over the last year. So far, they said, it’s working.

“we’re already seeing some of the benefits of rent reductions,” said James Fogerty, president and chief executive officer, during the retailer’s conference call. “We’ve got stores that are not making enough money, and we’re working hard with our landlords to make sure that it makes sense for us to keep operating them. The best answer is for that landlord to partner with us, keep that store open and make us profitable.”

The company is also focused on improving sales on other fronts after a tough first quarter. “We must stabilize and begin to grow profitable revenue,” Fogerty said.