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CHARMING SHOPPES REPORTS THIRD QUARTER EARNINGS

 BENSALEM, Pa., Nov. 19 ~PRNewswire~ -- David Wachs, chairman an d chief executive officer of Charming Shoppes, Inc. (NASDAQ: CHRS), the retail women's apparel chain, today reported record earnings and sales for the third quarter and nine months ended Oct. 31, 1992.
 For the three months ended Oct. 31, 1992, earnings increased 47 percent to $17,385,000 or $.32 per share, vs. earnings of $11,843,000 or $.22 per share for the corresponding period in 1991. Third quarter sales were $289,479,000 in 1992 as against sales of $247,008,000 in 1991, a 17 percent increase.
 For the nine months ended Oct. 31, 1992, earnings increased 43 percent to $55,236,000 or $1.02 per share, vs. earnings of $38,607,000 or $.73 per share for the corresponding nine months of 1991. Sales for the nine-month period increased to $841,547,000 in 1992 from $725,050,000 in 1991, a 16 percent increase.
 The above results do not give effect to the previously announced 2-for-1 stock split declared on Nov. 4, 1992, which is payable in the form of a 1-for-1 share dividend on Dec. 7, 1992, to all shareholders of record as of Nov. 16.
 During the period February through October, the company opened 84 new stores, bringing the total number of operating stores to 1,181 at the end of the third quarter. During November, the company opened an additional 45 stores. In total, the company has opened 129 stores this year, bringing the projected number of units operating at year end to 1,220, an 8 percent increase over the prior year. The company said it expects an increase of approximately 12 percent in the square feet of leased space this year, which will bring the total to approximately 9.7 million square feet at year end.
 CHARMING SHOPPES, INC.
 (In thousands, except shares and per-share amounts)
 Third quarter Third quarter
 Fiscal 1993 Fiscal 1992
 13 weeks 13 weeks
 Pct. Pct. Pct.
 Increase of Sales of Sales
 Sales 17.2 $289,479 100.0 $247,008 100.0
 Other income 31.6 2,043 .7 1,552 .6
 Total 17.3 291,522 100.7 248,560 100.6
 C~G~S, buying &
 occupancy 15.2 198,588 68.6 172,345 69.7
 Selling &
 administrative 14.7 66,675 23.0 58,112 23.5
 Interest expense (18.2) 768 .3 939 .4
 Expenses 15.0 266,031 91.9 231,396 93.6
 Pretax profit 48.5 25,491 8.8 17,164 7.0
 Less income taxes 52.3 8,106 2.8 5,321 2.2
 Net income 46.8 17,385 6.0 11,843 4.8
 Before giving effect
 of a 2-for-1 stock
 split(A):
 Earnings per share --- $.32 --- $.22 ---
 Average shares --- 54,364,452 --- 53,293,401 ---
 After giving effect
 of a 2-for-1 stock
 split(A):
 Earnings per share --- $.16 --- $.11 ---
 Average shares --- 108,728,904 --- 106,586,802 ---
 Nine Months Nine Months
 Fiscal 1993 Fiscal 1992
 Pct. Pct. Pct.
 Increase of Sales of Sales
 Sales 16.1 $841,547 100.0 $725,050 100.0
 Other income 42.2 6,621 .8 4,655 .6
 Total 16.2 848,166 100.8 729,705 100.6
 C~G~S, buying &
 occupancy 14.1 575,958 68.5 504,597 69.5
 Selling &
 administrative 13.4 188,893 22.4 166,582 23.0
 Interest expense (9.6) 2,326 .3 2,574 .4
 Expenses 13.9 767,177 91.2 673,753 92.9
 Pretax profit 44.8 80,991 9.6 55,952 7.7
 Less income taxes 48.5 25,755 3.0 17,345 2.4
 Net income 43.1 55,236 6.6 38,607 5.3
 Before giving effect
 of a 2-for-1 stock
 split(A):
 Earnings per share --- $1.02 --- $.73 ---
 Average shares --- 54,285,171 --- 52,979,635 ---
 After giving effect
 of a 2-for-1 stock
 split(A):
 Earnings per share --- $.51 --- $.37 ---
 Average shares --- 108,570,342 --- 105,959,270 ---
 (A) On Nov. 4, 1992, the company's board of directors authorized a 2-for-1 stock split payable on Dec. 7, 1992, to shareholders of record as of Nov. 16.
 ~delval~
 -0- 11~19~92
 ~CONTACT: Bernard Brodsky, vp and treasurer of Charming Shoppes, 215-638-6719~
 (CHRS)


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

CC-LJ -- PH007 -- 2684 11~19~92 08:36 EST
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Date:Nov 19, 1992
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