CFO Leaves Charlotte Russe
Dan Carter, the chief financial officer of Charlotte Russe Holding Inc. announced Dec. 6 that, after more than eight years, he would leave the San Diego–based retailer.
Carter said in a company statement that he would leave to pursue other opportunities in the business world. He scheduled his last day on the job for June 2007.
His departure will not change the company’s current period of good sales, said Jeffrey Van Sinderen, an analyst with B. Riley & Co. Rather, the announcement of Carter’s June departure indicated that he would help train the next CFO, Van Sinderen said.
There are 392 Charlotte Russe stores across 43 states and Puerto Rico. The retailer bounced back from a slump in 2005, when it reported declines for same-store sales in the first three quarters of that fiscal year. Its same-store sales increased more than 12.9 percent in the fourth quarter of 2005. Since then, its comparative-store sales have steadily increased. The company forecasted growth in the mid-single digits for the first two quarters of its fiscal 2007. —Andrew Asch
