Thread regarding Charlotte Russe Holding Inc. layoffs

RUSSE CLOSING: Charlotte Russe has closed the Santa Monica Place store it opened in 2010 to unveil a new prototype developed by chief executive officer Jenny Ming. Industry sources have said that the store didn’t perform appreciably better than stores with Charlotte Russe’s prior format, and Santa Monica Place marketing manager Nicole Flynn said the closure was part of a broader nationwide effort to trim Charlotte Russe’s retail network due to poor sales and decreasing margins. “They are in the process of closing at The Oaks at Thousand Oaks. I don’t have the list exactly, but there are other stores closing in other portfolios. So, this is one of several,” said Flynn. A spokeswoman for Charlotte Russe didn’t provide details the extent of the store closures, but said, “We are closing a few stores.” She added the Santa Monica Place prototype that sought to go after an older audience — twentysomethings rather than teens — with trend-focused merchandise isn’t going away.