Lane Bryant Parent Co to Close 150 Stores Nationwide

A sign of the times perhaps? Wow.

Lane Bryant parent cutting 200 jobs, closing 150 stores

The parent of Columbus' Lane Bryant apparel chain on Tuesday said it is eliminating 200 corporate and management jobs and closing 150 stores as part of a cost-cutting plan.
Charming Shoppes Inc. (NASDAQ:CHRS), which acquired the former Limited Brands Inc. (NYSE:LTD) chain in 2001, said the cuts are expected to increase profitability and the company's share price and create annual pre-tax savings of $20 million. The announcement comes about a month after a dissident shareholder group owning 7.9 percent of outstanding shares said it would seek three board seats, and urged major changes at the retailer.

The company didn't disclose what stores among its more than 2,400 would be closing but said the 150 shops to be shuttered include 100 Fashion Bugs, 40 Lane Bryant stores and 10 Catherines stores. Additionally, all four of the company's Petite Sophisticate stores will be closed, though the company's Petite Sophisticate outlets will remain open.

Spokeswoman Brooke Perry said the stores, which will close throughout the year, are fairly spread across the company's national markets and typically will take place in areas supported by other stores that can pick up cut employees.

As part of the plan, Charming Shoppes said it will cut its capital budget by $40 million, or 30 percent, mainly by reducing the number of store openings.

The retailer said it cut 150 jobs, effective Jan. 31, representing 13 percent of corporate field-management positions. Another 50 positions were eliminated in November when it moved the headquarters of Catherines from Memphis, Tenn., to the Charming Shoppes headquarters in Bensalem, Pa.

Charming Shoppes in its fiscal year ended Feb. 3 recorded profit of $108.9 million on $3.07 billion in revenue. In the first nine months of fiscal 2008, profit was down by more than half at $41 million as sales grew 2 percent to $2.23 billion.

Below is a history of Lane Bryant and it's growth - it's really pretty interesting:

Lane Bryant

1900 -Lena Bryant founded Lane Bryant in New York as the first women’s apparel retailer in America devoted exclusively to plus-sizes.

1900s–1980s - The first Lane Bryant store opened on Fifth Avenue in New York City in 1904. Lane Bryant eventually grew to 222 stores nationwide, offering a wide selection of fashion apparel. In 1982, The Limited, Inc. acquired Lane Bryant. During a period of rapid expansion, Lane Bryant grew to 720 stores.

1990s -Lane Bryant’s progressive new marketing and promotional efforts focused on the celebration and empowerment of women. In 1997, Lane Bryant held its first-ever fall fashion show in New York City and chose the winner of its national Search for Real Women campaign. Fashion shows continued through 2003.

2001 - On August 16, Charming Shoppes acquired America’s number-one women’s plus-size specialty apparel provider, Lane Bryant, with 651 stores.

2003 - Lane Bryant’s existing Web site, lanebryant.com, began e-commerce activity.

2004 - Lane Bryant returned to the Big Apple, celebrating more than 100 years in business by opening a store at 7 West 34th Street in Manhattan.

2006 - In July 2006, the Company launched Lane Bryant Outlet™ with the opening of the Company’s first outlet store at Franklin Mills in Philadelphia. The Company opened 75 Lane Bryant Outlet stores during July 2006.

Interesting huh? Apparently Lena Bryant recognized a need for dressing the plus sized consumer as far back as 1900........and yet here we are in 2008 still having problems finding quality and beautiful garments for the curvaceous woman in America. Go Figure.

My God...do I remember cringing inwardly because my mother had to take me shopping in the chubby section of Korvettes, Alexanders and S. Klein's (lol) - the clothes were so heinous my mother purchased a sewing machine and began making clothes for me.

Check out the bio on Lena Bryant - (http://www.ajhs.org/publications/chapters/chapter.cfm?documentID=283). She's definitely a pioneer in the plus sized industry.

Did you know that she also created the first known commercially made maternity dress? (I found that out by reading her bio).

“We must adjust to changing times and still hold to unchanging principles."