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Charming Shoppes exploring alternatives on non-core assets

Fri Apr 25, 2008 9:30am EDT

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April 25 (Reuters) - Charming Shoppes Inc (CHRS.O) said it was exploring strategic alternatives for its non-core misses apparel catalog titles to focus on its core brands, Lane Bryant, Catherines and Fashion Bug.

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The multi-brand specialty apparel retailer said it retained Banc of America Securities and Lehman Brothers as its financial advisors in connection with this process.

Charming Shoppes said it expects to reduce capital expenditures by an additional $20 million during the current fiscal year, from both reduced spending on store infrastructure and growth and from further capital reductions in non-critical infrastructure improvements. (Reporting by Swagata Gupta in Bangalore; Editing by Jarshad Kakkrakandy) ((swagata.gupta@reuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: swagata.gupta.reuters.com@reuters.net))

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