Charming Shoppes to Keep Figis, Close ShoeTrader
 Internet Retailer reports that Charming Shoppes, Inc. is closing ShoeTrader.com, an online shoe store. However, Charming Shoppes will keep Figis after it was unable to get the the price it wanted for the gifts store. ShoeTrader.com will remain open until next January.
As part of an effort to divest non-core assets and reduce operating costs, Charming Shoppes, No. 98 in the Internet Retailer Top 500 Guide, has decided to close ShoeTrader.com during the second half of its current fiscal year, which runs through January 2010, the company says. It also has explored the possible sale of its Figi’s food-gift business, which includes paper catalogs as well as the Figis.com e-commerce site.
Charming Shoppes entered into discussions regarding a possible sale of Figi’s, but was unable to get the price it sought for the Figi’s operation and brand, a company spokeswoman says.
Charming Shoppes, Inc. also runs a number of women's brands including Lane Bryant and Fashion Bug.
Posted on July 23, 2009
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