71
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Permanent · JOHANNESBURG
L'OREAL GROUP
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G-STAR
Key Account Manager
Permanent · CAPE TOWN
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
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PUMA
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Permanent · CAPE TOWN
ADIDAS
Senior Manager Sales: Shoe Channel - em South
Permanent · CAPE TOWN
ADIDAS
Senior HR Business Partner (6-Months Maternity Cover)
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L'OREAL GROUP
Product Manager
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TREK
Country Manager
Permanent · SANDTON
L'OREAL GROUP
E-Commerce Key Account Manager
Permanent · JOHANNESBURG
ADIDAS
ic pp Data & Analytics Specialist - em
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BEIERSDORF
Precision Marketing & Audience Specialist
Permanent · DURBAN
CLINIQUE
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PANDORA
Sales Assistant Ppt 96 Hours Balito
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L'OREAL GROUP
Data Analyst
Permanent · JOHANNESBURG
HTNK
High-End Fashion/Denim Designer
Permanent · JOHANNESBURG
H&M
Talent Acquisition Specialist
Permanent · CAPE TOWN
ADIDAS
Specialist Franchise Excellence - Ems Africa Export
Permanent · CAPE TOWN
LOVISA
Full Time Team Member | v&a Waterfront, Cape Town
Permanent · CAPE TOWN
LOVISA
Store Manager | v&a Waterfront, Cape Town
Permanent · CAPE TOWN
By
Reuters
Published
Mar 18, 2009
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Charming Shoppes posts narrower-than-expected Q4 loss

By
Reuters
Published
Mar 18, 2009

March 18 (Reuters) - Women's plus-size apparel retailer Charming Shoppes Inc (CHRS.O) posted a narrower-than-expected fourth-quarter loss, but said it will eliminate some of its non-core assets, including its Figure Magazine and website shoetrader.com, as part of its cost-cutting initiatives. The retailer, which cut 225 jobs in January, also said it will shut about 100 stores in 2010 out of its 2,301 retail stores, and expects to save $125 million from these efforts.



Lane Bryant Spring 2009

"Where our rent reduction efforts are unsuccessful, we will consider closing the stores," interim Chief Executive Alan Rosskamm said in a statement.

However, the company, whose brands include Lane Bryant, Fashion Bug and Catherines, also said it has renewed its Master Trust's $50 million credit card receivables facility, and it has no borrowings outstanding on its $375 million line of credit, which is committed through July 2010.

For the fourth quarter ended Jan. 31, the company posted a loss of $108.5 million, or 94 cents a share, compared with a loss of $44.9 million, or 39 cents a share, the year earlier.

Excluding charges, it posted a loss of 34 cents a share. Looking ahead, it forecast a first-quarter loss of 3 cents a share to 7 cents a share on net sales from continuing operations of $535 million to $545 million.

Analysts on average were looking at a loss of 6 cents a share, before items, on revenue of $567.4 million, according to Reuters Estimates.

Charming Shoppes also expects 2010 net capital expenditures of about $24 million -- a cut of 50 percent compared with the year earlier.

Shares of the Bensalem, Pennsylvania-based company closed at $1.19 Tuesday on Nasdaq.

For related alerts, double click (Reporting by Renju Jose in Bangalore; Editing by Anil D'Silva ) (([email protected]; within U.S. +1 646 223 8780; outside U.S. +91 080 4135 5967; Reuters messaging: [email protected]))

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