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Charming Shoppes to explore strategic options for unit

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April 25, 2008

BENSALEM, Pa.—Plus-size apparel retailer Charming Shoppes Inc. said Friday its board is exploring strategic alternatives for its misses apparel catalog business, in order to focus more on its core brands.

"We have received a number of inquiries from qualified third parties and are evaluating several alternatives for our non-core apparel catalog titles which would allow us to focus exclusively on and accelerate the growth of our core plus apparel businesses, with the goal of enhancing shareholder value," said Chief Executive Dorrit J. Bern in a statement.

The company's core brands include Lane Bryant, Catherines and Fashion Bug.

Bern also said the company will commit to lower its capital expenditures budget by $20 million during fiscal 2008. The cuts will come from lower spending on store infrastructure and cuts in non-critical infrastructure improvements.

The company said it will also refinance some of its real estate assets in its second quarter.

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