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CHARMING SHOPPES REPORTS SECOND QUARTER RESULTS

 BENSALEM, Pa., Aug. 18 /PRNewswire/ -- David Wachs, chairman and chief executive officer of Charming Shoppes, Inc. (NASDAQ: CHRS), the retail women's apparel chain, today reported its earnings and sales for the second quarter and for the six months ended July 31, 1993.
 For the three months ended July 31, 1993, net income was $20,602,000 or $.19 per share, vs. net income of $21,726,000 or $.20 per share for the corresponding period in 1992. Second quarter sales were $308,637,000 in 1993 as against sales of $289,606,000 in 1992, a 7 percent increase.
 For the six months ended July 31, 1993, net income increased 8 percent to $40,812,000 or $.38 per share, vs. net income of $37,851,000 or $.35 per share for the corresponding six months of 1992. Net income for the six months ended July 31, 1993, includes the cumulative effect of an accounting change of $3,991,000 or $.04 per share. Sales for the six month period increased to $583,936,000 in 1993 from $552,068,000 in 1992, a 6 percent increase.
 During the period February through July, the company opened 51 new stores, bringing the total number of operating stores to 1,248 at the end of the second quarter. In total, the company expects to open approximately 155 stores this year, bringing the projected number of units operating at year end to 1,330, a 9 percent increase. The company expects an increase of approximately 17 percent in the square feet of leased space this year, which will bring the total to approximately 11.3 million square feet at year end.
 CHARMING SHOPPES, INC.
 (In thousands, except shares and per-share amounts)
 2nd quarter 2nd quarter
 Fiscal 1994 Fiscal 1993(A)
 13 weeks 13 weeks
 Pct. Pct. Pct.
 Increase of Sales of Sales
 Earnings per share -- $.19 -- $.20 --
 Sales 6.6 $308,637 100.0 $289,606 100.0
 Other income 14.6 2,840 .9 2,479 .9
 Total 6.6 311,477 100.9 292,085 100.9
 C/G/S, buying &
 occupancy 6.6 212,017 68.7 198,827 68.7
 Selling &
 administrative 13.1 68,561 22.2 60,625 20.9
 Interest expense (11.1) 690 .2 776 .3
 Expenses 8.1 281,268 91.1 260,228 89.9
 Pretax profit (5.2) 30,209 9.8 31,857 11.0
 Less income taxes (5.2) 9,607 3.1 10,131 3.5
 Net income (5.2) $20,602 6.7 $21,726 7.5
 Average shares -- 108,560,444 -- 108,522,976 --
 Six Months Six Months
 Fiscal 1994 Fiscal 1993(A)
 Pct. Pct. Pct.
 Increase of Sales of Sales
 Per share information:
 Income before
 cumulative effect
 of accounting
 changes -- $.34 -- $.35 --
 Adjustment for
 adoption of
 SFAS 109 -- .04 -- .00 --
 Net income -- .38 -- .35 --
 Sales 5.8 $583,936 100.0 $552,068 100.0
 Other income 9.5 5,015 .9 4,578 .8
 Total 5.8 588,951 100.9 556,646 100.8
 C/G/S, buying &
 occupancy 6.6 402,100 68.9 377,370 68.3
 Selling &
 administrative 7.6 131,522 22.5 122,218 22.1
 Interest expense (14.1) 1,339 .2 1,558 .3
 Expenses 6.7 534,961 91.6 501,146 90.7
 Pretax profit (2.7) 53,990 9.3 55,500 10.1
 Less income taxes (2.7) 17,169 3.0 17,649 3.2
 Income before
 cumulative effect
 of accounting
 changes (2.7) 36,821 6.3 37,851 6.9
 Adjustment for
 adoption of
 SFAS 109 N/A 3,991 0.7 0 0.0
 Net income 7.8 $40,812 7.0 $37,851 6.9
 Average shares -- 108,640,007 -- 108,491,062 --
 (A) Fiscal 1993 share and per-share amounts have been restated to give effect to a 2-for-1 stock split effective Dec. 7, 1992.
 /delval/
 -0- 8/18/93
 /CONTACT: Bernard Brodsky, vp and treasurer of Charming Shoppes, 215-638-6719/
 (CHRS)


CO: Charming Shoppes, Inc. ST: Pennsylvania IN: REA SU: ERN

CC-MJ -- PH003 -- 3775 08/18/93 08:46 EDT
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Date:Aug 18, 1993
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