Charming Shoppes Completes Sale of Charming Shoppes' Credit Card Receivables Programs to Alliance Data Systems Corporation

Rochester, New York 11/03/2009 04:35 AM GMT (TransWorldNews)

Charming Shoppes, Inc. (NASDAQ: CHRS) has completed the sale of Charming Shoppes' credit card receivables programs to Alliance Data Systems Corporation. Charming Shoppes and Alliance Data Systems Corporation have also entered a 10 year operating agreement for the servicing of Charming Shoppes' private label credit card receivables program. The company announced they have strengthened their global sourcing team through the addition of four brand sourcing executives. The company received net cash proceeds of approximately $136 million related to the credit card receivables transaction.

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About Charming Shoppes, Inc.

Charming Shoppes, Inc. (Nasdaq: CHRS) is a leading multi-brand specialty apparel retailer primarily focused on plus-size women's apparel and the parent company of Lane Bryant, Fashion Bug, Catherines Plus Sizes, Figi's and Petite Sophisticate Outlet. At August 1, 2009, Charming Shoppes, Inc. operated 2,258 retail stores in 48 states under the names LANE BRYANT®, LANE BRYANT CACIQUE®, LANE BRYANT OUTLET®, FASHION BUG®, FASHION BUG PLUS®, CATHERINES PLUS SIZES®, and PETITE SOPHISTICATE OUTLET®. The Company also operates the Figi's® Gifts in Good Taste® catalog, specializing in holiday fare, gift-giving convenience, and exclusive and personalized items. Headquartered in Bensalem, PA, Charming Shoppes employs approximately 26,000 employees worldwide.

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