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On Wednesday (Jan. 21), Charlotte Russe, retailer of fashion merchandise to females in their teens and twenties, shot up to $5.89 in after-hours trading. The company announced that day that it might sell itself and has received "expressions of interest" from third parties. But today (Friday Jan. 23) the stock closed at $4.51. The market seems to believe that a sale at a premium price is much less likely. The shares got to $20.61 in February. In November, a buyout firm offered to purchase Charlotte Russe for almost $200 million. Today, the market values the company at $94.5 million. The company expects to lose 10 to 20 cents a share in its second quarter. The company has almost 500 stores around the country, but will slow down its past breakneck expansion.
On Wednesday (Jan. 21), Charlotte Russe, retailer of fashion merchandise to females in their teens and twenties, shot up to $5.89 in after-hours trading. The company announced that day that it might sell itself and has received "expressions of interest" from third parties. But today (Friday Jan. 23) the stock closed at $4.51. The market seems to believe that a sale at a premium price is much less likely. The shares got to $20.61 in February. In November, a buyout firm offered to purchase Charlotte Russe for almost $200 million. Today, the market values the company at $94.5 million. The company expects to lose 10 to 20 cents a share in its second quarter. The company has almost 500 stores around the country, but will slow down its past breakneck expansion.