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|   | x ANNUAL      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|--------|-------------------------------------------------------------------------------------------------------|

|   | o  TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|--------|-----------------------------------------------------------------------------------------------------------------|

| CHARMING SHOPPES, INC.                                     |
|------------------------------------------------------------|
| (Exact      Name of Registrant as Specified in ItsCharter) |

|   | PENNSYLVANIA                                                        |   | 23-1721355                                |   |
|--------|---------------------------------------------------------------------|--------|-------------------------------------------|--------|
|   | (State      or other jurisdiction of incorporation or organization) |   | (I.R.S.      Employer Identification No.) |   |

|   | 3750 STATE ROAD, BENSALEM,      PA  19020                      |   | (215) 245-9100                                                  |   |
|--------|--------------------------------------------------------------------------|--------|-----------------------------------------------------------------|--------|
|   | (Address      of principal executive offices)   (ZipCode) |   | (Registrant’s      telephone number, including Area Code) |   |

|   | Title of Each Class                          |   | Name of Each Exchange on Which      Registered |
|--------|----------------------------------------------|--------|------------------------------------------------|
|   | Common      Stock (par value $.10 per share) |   | The      NASDAQ Stock Market LLC               |
|   |                                         |   | Chicago      Stock Exchange, Inc.              |
|   | Stock      Purchase Rights                   |   | The      NASDAQ Stock Market LLC               |

| None                  |
|-----------------------|
| (Title      of Class) |

| Yes      x | No      o |
|------------|-----------|

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| Yes      o | No      x |
|------------|-----------|

| Yes      x | No      o |
|------------|-----------|

| Large      Accelerated Filer  x | Accelerated      Filer o         |
|-------------------------------------------|----------------------------------|
| Non-accelerated      Filer  o   | Smaller      Reporting Company o |

| Yes      o | No      x |
|------------|-----------|

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CHARMING SHOPPES, INC.

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Page   |
|--------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|         | PART    I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
| Item      1  | Business                                                                                                                                                                               | 1      |
|         | General                                                                                                                                                                                                              | 1      |
|         | Retail      Stores      Segment                                                                                                                                                                                      | 3      |
|         | Direct-to-Consumer      Segment                                                                                                                                                                                      | 8      |
|         | Proprietary Credit      Programs                                                                                                                                                                                     | 9      |
|         | Competition                                                                                                                                                                                                          | 9      |
|         | Employees                                                                                                                                                                                                            | 10     |
|         | Trademarks      and      Servicemarks                                                                                                                                                                                | 10     |
|         | Executive      Offices                                                                                                                                                                                               | 10     |
|         | Available      Information                                                                                                                                                                                           | 10     |
| Item      1A | Risk      Factors                                                                                                                                                                      | 11     |
|         | Risks      Related to Our Business and      Industry                                                                                                                                                                 | 11     |
|         | Other      Risks                                                                                                                                                                                                     | 17     |
| Item      1B | Unresolved      Staff      Comments                                                                                                                                                    | 19     |
| Item      2  | Properties                                                                                                                                                                             | 19     |
| Item      3  | Legal      Proceedings                                                                                                                                                                 | 20     |
| Item      4  | Submission      of Matters to a Vote of Security      Holders                                                                                                                          | 20     |
|         | Additional Part I      Information – Executive Officers of the    Registrant                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 21     |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
|         | PART      II                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
| Item      5  | Market for      Registrant’s Common Equity, Related Stockholder Matters, and Issuer      Purchases of Equity Securities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 22     |
| Item      6  | Selected      Financial      Data                                                                                                                                                      | 25     |
| Item      7  | Management’s      Discussion and Analysis of Financial Condition and Results of      Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 26     |
|         | Forward-Looking      Statements                                                                                                                                                                                      | 26     |
|         | Critical      Accounting      Policies                                                                                                                                                                               | 30     |
|         | Overview                                                                                                                                                                                                             | 39     |
|         | Results of      Operations                                                                                                                                                                                           | 43     |
|         |                                                                                                                                                                                                                      | 56     |
|         | Market      Risk                                                                                                                                                                                                     | 66     |
|         | Impact      of Recent Accounting      Pronouncements                                                                                                                                                                 | 67     |
| Item      7A | Quantitative and Qualitative Disclosures About      Market      Risk                                                                                                                   | 67     |
| Item      8  | Financial      Statements and Supplementary      Data                                                                                                                                  | 67     |
|         | Management’s Report on      Internal Control Over Financial Reporting                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 67     |
|         | Report of      Independent Registered Public Accounting Firm on Internal      Control over FinancialReporting                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 68     |
|         | Report of Independent      Registered Public Accounting Firm                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 70     |
|         | Consolidated Balance      Sheets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 71     |
|         | Consolidated Statements      of Operations and Comprehensive Income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 72     |

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|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Page   |
|--------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |
| Item      8  | Financial      Statements and Supplementary Data (Continued)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
|         | Consolidated      Statements of Stockholders’ Equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 73     |
|         | Consolidated Statements of      Cash Flows                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 74     |
|         | Notes to      Consolidated Financial Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 76     |
| Item      9  | Changes In and      Disagreements With Accountants on Accounting and Financial      Disclosure                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 134    |
| Item      9A | Controls and      Procedures                                                                                                                                                        | 134    |
| Item      9B | Other      Information                                                                                                                                                              | 134    |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |
|         | PART      III                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |
| Item      10 | Directors, Executive      Officers, and Corporate      Governance                                                                                                                   | 135    |
| Item      11 | Executive      Compensation                                                                                                                                                         | 135    |
| Item      12 | Security Ownership      of Certain Beneficial Owners and Management and Related Stockholder      Matters                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 135    |
| Item      13 | Certain      Relationships and Related Transactions, and Director      Independence                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 136    |
| Item      14 | Principal      Accountant Fees and      Services                                                                                                                                    | 136    |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |
|         | PART      IV                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |
| Item      15 | Exhibits and      Financial Statement      Schedules                                                                                                                                | 137    |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |
|         | Signatures                                                                                                                                                                          | 152    |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |
|         | Exhibit      Index                                                                                                                                                                  | 153    |

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PARTI

Item 1.  Business

GENERAL

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RETAIL STORES SEGMENT

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | Year      Ended  |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | January      31, |   |   | February      2, |   |   | February      3, |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 2009             |   |   | 2008 |   |   | 2007 |   |
| Store      Activity:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |             |   |   |   |   |   |   |   |
| Number      of stores open at beginning of      period                                                                                   |   |             | 2,409  |   |   |   | 2,378 |   |   |   | 2,236 |   |
| Opened      during      period                                                                                                           |   |             | 48     |  (1) |   |   | 103 | (2) |   |   | 198 | (3) |
| Closed      during      period                                                                                                           |   |             | (156   | )(4) |   |   | (72 | ) |   |   | (56 | ) |
| Number      of stores open at end of      period                                                                                         |   |             | 2,301  |   |   |   | 2,409 |   |   |   | 2,378 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |             |   |   |   |   |   |   |   |   |   |   |
| Number      of Stores Open at End of Period by Brand:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |             |   |   |   |   |   |   |   |   |   |   |
| FASHION      BUG                                                                                                                         |   |             | 897    |   |   |   | 989 |   |   |   | 1,009 |   |
| LANE      BRYANT                                                                                                                         |   |             | 892    | (5) |   |   | 896 | (5) |   |   | 859 | (5) |
| CATHERINES                                                                                                                               |   |             | 463    |   |   |   | 468 |   |   |   | 465 |   |
| PETITE      SOPHISTICATE      OUTLET                                                                                                     |   |             | 49     |   |   |   | 56 | (6) |   |   | 45 |   |
| Number      of stores open at end of      period                                                                                         |   |             | 2,301  |   |   |   | 2,409 |   |   |   | 2,378 |   |
| ____________________                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |             |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |
| (1)          Includes 7 LANE BRYANT OUTLET stores, 11 LANE BRYANT/CACIQUE intimate      apparel side-by-side stores, and 4 PETITE SOPHISTICATE OUTLET      stores.                                                                                                                                                                                                                                                                                                                                                                             |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |
| (2)          Includes 19 LANE BRYANT OUTLET stores, 37 LANE BRYANT intimate apparel      side-by-side stores, 7 PETITE SOPHISTICATE OUTLET stores, and 4 PETITE      SOPHISTICATE stores.                                                                                                                                                                                                                                                                                                                                                      |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |
| (3)          Includes 82 LANE BRYANT OUTLET stores and 45 PETITE SOPHISTICATE OUTLET      stores.                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |
| (4)          Includes 78 FASHION BUG, 10 CATHERINES, 21 LANE BRYANT, 2 LANE BRYANT      OUTLET, 1 PETITE SOPHISTICATE OUTLET, and 4 PETITE SOPHISTICATE stores in      connection with the closure of under-performing stores announced in      February 2008.                                                                                                                                                                                                                                                                                 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |
| (5)          Includes LANE BRYANT OUTLET stores as follows: 106 in Fiscal 2009, 101 in      Fiscal 2008, and 82 in Fiscal 2007.                                                                                                                                                                                                                                                                                                                                                                                                                |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |
| (6)          Includes 4 PETITE SOPHISTICATE stores.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |

|                                                                                                                                                                                                                                                                                                                                                                         |   | Openings |   |   | Closings(1) |   |   | Relocations |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|--------|--------|-------------|--------|--------|-------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                         |   |     |   |   |        |   |   |        |   |
| FASHION      BUG                                                           |   |     | 0      |   |        |   | 45     |        |   |   | 3 |   |
| LANE      BRYANT                                                           |   |     | 6      |   |        |   | 30     |        |   |   | 9 |   |
| CATHERINES                                                                 |   |     | 0      |   |        |   | 13     |        |   |   | 0 |   |
| PETITE      SOPHISTICATE OUTLET                                                                                                                                                                                                                                                                                                                                              |   |     | 0      |   |        |   | 12     |        |   |   | 0 |   |
| Total                                                                      |   |     | 6      |   |        |   | 100    |        |   |   | 12 |   |
| ____________________                                                                                                                                                                                                                                                                                                                                                         |   |     |   |   |        |   |   |        |   |   |   |   |
| (1)          Closure      of under-performing stores announced in November 2008.                                                                                                                                                                                                                                                                    |   |

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DIRECT-TO-CONSUMER SEGMENT

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AVAILABLE INFORMATION

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Item 1A.  Risk Factors

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| ● | political      instability;                                                                |
|---------|--------------------------------------------------------------------------------------------|
|    |                                                                                       |
| ● | increased      security requirements applicable to imported goods;                         |
|    |                                                                                       |
| ● | trade      restrictions;                                                                   |
|    |                                                                                       |
| ● | imposition      of or changes in duties, quotas, taxes, and other charges on      imports; |
|    |                                                                                       |
| ● | currency      and exchange risks;                                                          |
|    |                                                                                       |
| ● | issues      relating to compliance with domestic or international labor      standards;    |
|    |                                                                                       |
| ● | concerns      over anti-dumping;                                                           |
|    |                                                                                       |
| ● | delays      in shipping; or                                                                |
|    |                                                                                       |
| ● | increased      costs of transportation.                                                    |

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| ● | do      not permit cumulative voting;                                                                                                                                                       |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ● | permit      our board to issue "blank check" preferred stock without shareholder      approval;                                                                                             |
| ● | require      certain advance notice procedures with regard to the nomination of      candidates for election as directors, other than nominations by or at the      direction of our board; |
| ● | prevent      our directors from being removed without cause except upon super-majority      shareholder approval; and                                                                       |
| ● | prevent      a holder of 20% or more of our common stock from taking certain actions      without certain approvals.                                                                        |

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Item 2.  Properties

| Period                                              | Number      ofLeases Expiring |
|-----------------------------------------------------|-------------------------------|
|                                                |                          |
| 2009                                                |         126(1)      |
| 2010      – 2014                              | 652                           |
| 2015      – 2019                              | 512                           |
| 2020      – 2024                              | 650                           |
| 2025      – 2029                              | 304                           |
| 2030      – 2034                              | 42                            |
| Thereafter                                          | 12                            |
| ____________________                                |
|                                                |
| (1)Includes      70 stores on month-to-monthleases. |

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| Size      in                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                    | Leased/ |                                                                                                                                            |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------|
| Sq. Feet                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Location                | Owned   | Description                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                    |    |                                                                                                                                            |
| 1,040,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Greencastle,      IN    | Owned   | FASHION      BUG, LANE BRYANT OUTLET, and PETITE SOPHISTICATE OUTLET distribution      center                                                   |
| 513,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | White      Marsh, MD    | Owned   | LANE      BRYANT and CATHERINES distribution center                                                                                             |
| 288,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Tucson,      AZ         | Leased  | Crosstown      Traders transitional distribution center(1)                                                                                      |
| 240,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Wilmington,      NC     | Leased  | Crosstown      Traders transitional distribution center(1)                                                                                      |
| 145,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Bensalem,      PA       | Owned   | Corporate      headquarters, technology center, and administrative  offices                                                                     |
| 142,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Bensalem,      PA       | Leased  | FASHION      BUG, CATHERINES,(2)      LANE BRYANT OUTLET, and PETITE SOPHISTICATE OUTLET home offices and      corporate administrative offices |
| 135,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Columbus,      OH       | Leased  | LANE      BRYANT home office                                                                                                                    |
| 125,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Marshfield,      WI     | Owned   | FIGI’S      distribution center                                                                                                           |
| 122,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Stevens      Point, WI  | Leased  | FIGI’S      distribution and call centers                                                                                                 |
| 108,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Tucson,      AZ         | Leased  | Crosstown      Traders transitional distribution center(1)                                                                                      |
| 71,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Marshfield,      WI     | Owned   | FIGI’S      warehouse                                                                                                                     |
| 64,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Marshfield,      WI     | Owned   | FIGI’S      administrative offices and call center                                                                                        |
| 63,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Memphis,      TN        | Owned   | Currently      idle(2)                                                                                                                          |
| 52,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Tucson,      AZ         | Leased  | Crosstown      Traders transitional offices(1)                                                                                                  |
| 46,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Neillsville,      WI    | Owned   | FIGI’S      catalog distribution center                                                                                                   |
| 40,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Marshfield,      WI     | Owned   | FIGI’S      warehouse                                                                                                                     |
| 36,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Tucson,      AZ         | Leased  | Crosstown      Traders transitional offices(1)                                                                                                  |
| 30,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Miami      Township, OH | Leased  | Spirit      of America National Bank (our wholly-owned credit card bank subsidiary)      and credit operations                                  |
| 23,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Hong      Kong, PRC     | Owned   | International      sourcing offices                                                                                                             |
| 17,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | New      York, NY       | Leased  | e-commerce      operations (through March 2009)                                                                                                 |
| 16,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Marshfield,      WI     | Owned   | FIGI’S      manufacturing facility                                                                                                        |
| 15,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Tucson,      AZ         | Leased  | Crosstown      Traders transitional offices(1)                                                                                                  |
| 11,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Hangzhou,      PRC      | Leased  | International      sourcing offices                                                                                                             |
| 7,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | New      Delhi, India   | Leased  | International      sourcing offices                                                                                                             |
| ____________________                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| (1)          In September 2008 we sold our Crosstown Traders non-core misses apparel      catalogs to an affiliate of Orchard Brands.  In connection with      the sale we retained certain components of their infrastructure and      entered into transitional service agreements with an affiliate of Orchard      Brands.  See “Item 1. Business;      DIRECT-TO-CONSUMER SEGMENT” above for additional      information. |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| (2)          During Fiscal 2009 we relocated our CATHERINES operations from Memphis,      Tennessee to Bensalem, Pennsylvania in connection with the consolidation      of a number of our operatingfunctions.                                                                                                                                                                                                                                                 |

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Additional Part I Information –Executive Officers of theRegistrant

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PARTII

Item 5.  Market for the Registrant’s CommonEquity, Related Stockholder Matters, and Issuer Purchases of EquitySecurities

|                                                                                                                                                                                                 |   | Fiscal 2009 |   |   | Fiscal 2008 |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|--------|--------|-------------|--------|
|                                                                                                                                                                                                 |   | High        |   |   | Low         |   |   | High |   |   | Low |   |
|                                                                                                                                                                                                 |   |        |   |   |        |   |   |   |   |   |   |   |
| 1st      Quarter                                    |   | $           | 6.83   |   |        | $      | 4.26 |   |   | $ | 13.38 |   |   | $ | 11.33 |   |
| 2nd      Quarter                                    |   |        | 6.20   |   |        |   | 4.14 |   |   |   | 12.92 |   |   |   | 9.16 |   |
| 3rd      Quarter                                    |   |        | 6.35   |   |        |   | 1.01 |   |   |   | 9.72 |   |   |   | 6.79 |   |
| 4th      Quarter                               |   |        | 2.88   |   |        |   | 0.57 |   |   |   | 7.34 |   |   |   | 4.01 |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |           |   |   |            |   |   | Total                 |   |   | Maximum              |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|--------|--------|-----------------|--------|--------|-----------------------|--------|--------|----------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |           |   |   |            |   |   | Number                |   |   | Number      of       |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |           |   |   |            |   |   | of      Shares        |   |   | Shares      that     |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | Total          |   |   |            |   |   | Purchased      as     |   |   | May      Yet be      |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | Number         |   |   | Average         |   |   | Part      of Publicly |   |   | Purchased            |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | of      Shares |   |   | Price      Paid |   |   | Announced      Plans  |   |   | Under      the Plans |   |
| Period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | Purchased      |   |   | per Share       |   |   | or Programs(2)        |   |   | or Programs(2)       |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |           |   |   |            |   |   |                  |   |   |                 |   |
| November      2, 2008 through                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |           |   |   |            |   |   |                  |   |   |                 |   |
| November 29,    2008                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |           | 6,926  | (1)    |            | $      | 1.29   |                  |   |   | –              |   |   |   |   |
| November      30, 2008 through                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |           |   |   |            |   |   |                  |   |   |                 |   |   |   |   |
| January 3, 2009                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |           | 39     | (1)    |            |   | 1.60   |                  |   |   | –              |   |   |   |   |
| January      4, 2009 through                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |           |   |   |            |   |   |                  |   |   |                 |   |   |   |   |
| January 31,2009                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |           | 2,214  | (1)    |            |   | 1.28   |                  |   |   | –              |   |   |   |   |
| Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |           | 9,179  |   |            | $      | 1.29   |                  |   |   | –              |   |   |   | (2) |   |
| ____________________                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |           |   |   |            |   |   |                  |   |   |                 |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
| (1)          Shares withheld for the payment of payroll taxes on employee stock awards      that vested during the period.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
| (2)          On November 8, 2007 we publicly announced that our Board of Directors      granted authority to repurchase shares of our common stock up to an      aggregate value of $200 million. Shares may be purchased in the open      market or through privately-negotiated transactions, as market conditions      allow. As of February 2, 2008 no shares had been purchased under this      plan. During the period from February 3, 2008 through May 3, 2008 we      repurchased a total of 505,406 shares of stock ($5.21 average price paid      per share) in the open market under this program. During the period      from May 4, 2008 through January 31, 2009 no shares were purchased under      this plan. As of January 31, 2009, $197,364,592 was available for      future repurchases under this program. This repurchase program has no      expiration date. |   |

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|                                                |   | 1/31/04 |   |   | 1/29/05 |   |   | 1/28/06 |   |   | 2/3/07 |   |   | 2/2/08 |   |   | 1/31/09 |   |
|-----------------------------------------------------|--------|---------|--------|--------|---------|--------|--------|---------|--------|--------|--------|--------|--------|--------|--------|--------|---------|--------|
| Charming      Shoppes, Inc.                         |   | $       | 100    |   |    | $      | 137    |    |   | $      | 214    |   |   | $      | 225    |   |    | $      | 117 |   |   | $ | 18 |   |
| Russell      2000 Composite Index              |   |    | 100    |   |    |   | 107    |    |   |   | 129    |   |   |   | 144    |   |    |   | 132 |   |   |   | 81 |   |
| Dow      Jones U.S. Retailers – Apparel Index |   |    | 100    |   |    |   | 121    |    |   |   | 138    |   |   |   | 167    |   |    |   | 132 |   |   |   | 69 |   |

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Table of Contents

Item 6.  Selected FinancialData

|                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | Year      Ended |      |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------|-----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | Jan.      31,   |      |   | Feb.      2, |   |   | Feb.      3, |   |   | Jan.      28, |   |   | Jan.      29, |   |
| (Dollars      in thousands, except per share amounts)                                                                                                                                                                                                                                                                                                                                                                                       |   | 2009            |      |   | 2008 |   |   | 2007(1) |   |   | 2006 |   |   | 2005 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating      Statement Data:                                                                                                                                                                                                                                                                                                                                                                                                              |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      sales                                                                                                   |   | $               | 2,474,898 |   |   | $ | 2,722,462 |   |   | $ | 2,751,845 |   |   | $ | 2,553,645 |   |   | $ | 2,334,736 |   |
| Cost      of goods sold, buying, catalog, and                                                                                                                                                                                                                                                                                                                                                                                               |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| occupancy      expenses                                                                                                                        |   |            | 1,846,954 |   |   |   | 1,954,495 |   |   |   | 1,890,565 |   |   |   | 1,763,693 |   |   |   | 1,642,650 |   |
| Selling,      general, and administrative expenses                                                                                                                                                                                                                                                                                                                                                                                          |   |            | 692,110   |   |   |   | 719,107 |   |   |   | 699,009 |   |   |   | 638,403 |   |   |   | 577,301 |   |
| Impairment      of store assets, goodwill, and trademarks                                                                                                                                                                                                                                                                                                                                                                                   |   |            | 81,498    | (2) |   |   | 27,197 | (2) |   |   | 0 |   |   |   | 0 |   |   |   | 0 |   |
| Restructuring      and other      charges                                                                        |   |            | 33,145    | (3) |   |   | 5,332 | (3) |   |   | 0 |   |   |   | 0 |   |   |   | 605 | (4) |
| Total      operating      expenses                                                                               |   |            | 2,653,707 |   |   |   | 2,706,131 |   |   |   | 2,589,574 |   |   |   | 2,402,096 |   |   |   | 2,220,556 |   |
| Income/(loss)      from      operations                                                                          |   |            | (178,809  | ) |   |   | 16,331 |   |   |   | 162,271 |   |   |   | 151,549 |   |   |   | 114,180 |   |
| Other      income                                                                                                |   |            | 4,430     |   |   |   | 8,793 |   |   |   | 8,273 |   |   |   | 7,474 |   |   |   | 3,098 |   |
| Interest      expense                                                                                            |   |            | (8,795    | ) |   |   | (10,552 | ) |   |   | (14,746 | ) |   |   | (17,885 | ) |   |   | (15,610 | ) |
| Income/(loss)      from continuing operations                                                                                                                                                                                                                                                                                                                                                                                               |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| before income taxes and      extraordinary item                                                                                                                                                                                                                                                                                                                                                                                             |   |            | (183,174  | ) |   |   | 14,572 |   |   |   | 155,798 |   |   |   | 141,138 |   |   |   | 101,668 |   |
| Income      tax      provision/(benefit)                                                                         |   |            | (13,885   | ) |   |   | 13,858 |   |   |   | 53,839 |   |   |   | 48,718 |   |   |   | 37,142 |   |
| Income/(loss)      from continuing operations                                                                                                                                                                                                                                                                                                                                                                                               |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| before extraordinary      item                                                                                                                 |   |            | (169,289  | ) |   |   | 714 |   |   |   | 101,959 |   |   |   | 92,420 |   |   |   | 64,526 |   |
| Income/(loss)      from discontinued operations, net of income                                                                                                                                                                                                                                                                                                                                                                              |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| taxes(5)                                                                                                                                       |   |            | (74,922   | ) |   |   | (85,039 | ) |   |   | 6,964 |   |   |   | 6,971 |   |   |   | 0 |   |
| Extraordinary      item, net of income      taxes                                                                |   |            | 0         |   |   |   | 912 |   |   |   | 0 |   |   |   | 0 |   |   |   | 0 |   |
| Net      income/(loss)                                                                                           |   | $               | (244,211  | ) |   | $ | (83,413 | ) |   | $ | 108,923 |   |   | $ | 99,391 |   |   | $ | 64,526 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic      income/(loss) per share:                                                                                                                                                                                                                                                                                                                                                                                                         |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Continuing      operations before extraordinary item                                                                                                                                                                                                                                                                                                                                                                                        |   | $               | (1.48     | ) |   | $ | .01 |   |   | $ | .83 |   |   | $ | .77 |   |   | $ | .56 |   |
| Discontinued      operations, net of income taxes(5)                                                                                                                                                                                                                                                                                                                                                                                        |   |            | (.65      | ) |   |   | (.70 | ) |   |   | .06 |   |   |   | .06 |   |   |   | .00 |   |
| Net      income/(loss)(6)                                                                                        |   | $               | (2.13     | ) |   | $ | (.69 | ) |   | $ | .89 |   |   | $ | .83 |   |   | $ | .56 |   |
| Basic      weighted average common shares outstanding                                                                                                                                                                                                                                                                                                                                                                                       |   |            | 114,690   |   |   |   | 121,160 |   |   |   | 122,388 |   |   |   | 119,831 |   |   |   | 116,196 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted      income/(loss) per share:                                                                                                                                                                                                                                                                                                                                                                                                       |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Continuing      operations before extraordinary item                                                                                                                                                                                                                                                                                                                                                                                        |   | $               | (1.48     | ) |   | $ | .01 |   |   | $ | .76 |   |   | $ | .71 |   |   | $ | .52 |   |
| Discontinued      operations, net of income taxes(5)                                                                                                                                                                                                                                                                                                                                                                                        |   |            | (.65      | ) |   |   | (.69 | ) |   |   | .05 |   |   |   | .05 |   |   |   | .00 |   |
| Net      income/(loss)(6)                                                                                        |   | $               | (2.13     | ) |   | $ | (.68 | ) |   | $ | .81 |   |   | $ | .76 |   |   | $ | .52 |   |
| Diluted      weighted average common shares and                                                                                                                                                                                                                                                                                                                                                                                             |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| equivalents      outstanding                                                                                                                   |   |            | 114,690   |   |   |   | 122,426 |   |   |   | 139,763 |   |   |   | 137,064 |   |   |   | 133,174 |   |
| _______________________                                                                                                                                                                                                                                                                                                                                                                                                                     |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
| (1)          Fiscal 2007 consisted of 53 weeks.                                                                                                                                                                                                                                                                                                                                                                         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
| (2)          See “Item 8. Financial      Statements and Supplementary Data; Notes to Consolidated Financial      Statements; NOTE      13. IMPAIRMENT OF STORE ASSETS, GOODWILL, AND TRADEMARKS” below.                                                                                                                                                                                           |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
| (3)          See “Item 8. Financial      Statements and Supplementary Data; Notes to Consolidated Financial      Statements;“NOTE 14. RESTRUCTURING AND      OTHER CHARGES”      below.                                                                                                                                                                                                          |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
| (4)          Additional lease termination costs related to a cost reduction plan      implemented and substantially completed during Fiscal2004.                                                                                                                                                                                                                                                                        |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
| (5)          See “Item 8. Financial      Statements and Supplementary Data; Notes to Consolidated Financial      Statements; NOTE      2. DISCONTINUED OPERATIONS” below.                                                                                                                                                                                                                              |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
| (6)          Results may not add due to rounding.                                                                                                                                                                                                                                                                                                                                                                       |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | Year      Ended |      |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------|-----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | Jan.      31,   |      |   | Feb.      2, |   |   | Feb.      3, |   |   | Jan.      28, |   |   | Jan.      29, |   |
| (Dollars      in thousands, except per share amounts)                                                                                                                                                                                                                                                                                                                                                                                      |   | 2009            |      |   | 2008 |   |   | 2007(2) |   |   | 2006 |   |   | 2005 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Performance      Data(1):                                                                                                                                                                                                                                                                                                                                                                                                                  |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      return on average stockholders’ equity                                                                                                                                                                                                                                                                                                                                                                                      |   |            | (28.3     | )% |   |   | 0.1 | % |   |   | 11.6 | % |   |   | 12.3 | % |   |   | 10.1 | % |
| Net      return on average total      assets                                                                    |   |            | (12.2     | ) |   |   | 0.0 |   |   |   | 6.2 |   |   |   | 6.5 |   |   |   | 5.2 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | As      Of      |      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | Jan.      31,   |      |   | Feb.      2, |   |   | Feb.      3, |   |   | Jan.      28, |   |   | Jan.      29, |   |
| (Dollars      in thousands)                                                                                                                                                                                                                                                                                                                                                                                                                |   | 2009            |      |   | 2008(3) |   |   | 2007(3) |   |   | 2006(3) |   |   | 2005 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance      Sheet Data:                                                                                                                                                                                                                                                                                                                                                                                                                   |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      assets                                                                                               |   | $               | 1,279,692 |   |   | $ | 1,613,304 |   |   | $ | 1,705,723 |   |   | $ | 1,572,583 |   |   | $ | 1,303,771 |   |
| Current      portion – long-term      debt                                                                |   |            | 6,746     |   |   |   | 8,827 |   |   |   | 10,887 |   |   |   | 14,765 |   |   |   | 16,419 |   |
| Long-term      debt                                                                                             |   |            | 305,635   |   |   |   | 306,169 |   |   |   | 181,124 |   |   |   | 191,979 |   |   |   | 208,645 |   |
| Working      capital                                                                                            |   |            | 382,651   |   |   |   | 495,096 |   |   |   | 460,620 |   |   |   | 344,229 |   |   |   | 413,989 |   |
| Stockholders’      equity                                                                                 |   |            | 465,866   |   |   |   | 730,444 |   |   |   | 947,538 |   |   |   | 814,348 |   |   |   | 694,464 |   |
| ____________________                                                                                                                                                                                                                                                                                                                                                                                                                       |   |            |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |
| (1)           Based on net income/(loss) from continuing operations.                                                                                                                                                                                                                                                                                                                                              |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |
| (2)           Fiscal 2007 consisted of 53 weeks.                                                                                                                                                                                                                                                                                                                                                                  |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |
| (3)          Includes      discontinued operations (see “Item      8. Financial Statements and Supplementary Data; Notes to Consolidated      Financial Statements; NOTE 2.      DISCONTINUED OPERATIONS”      below).                                                                                                                                                                                |   |

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| ● | Our      business is dependent upon our ability to accurately predict rapidly      changing fashion trends, customer preferences, and other fashion-related      factors, which we may not be able to successfully accomplish in the      future.                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| ● | The      women’s specialty retail apparel and direct-to-consumer markets are highly      competitive and we may be unable to compete successfully against existing      or future competitors.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| ● | We      cannot assure the successful implementation of our business plan for      increased profitability and growth in our Retail Stores or      Direct-to-Consumer segments and we may be unable to successfully implement      our plan to improve merchandise assortments.  Recent changes in      management may fail to achieve improvement in our operating      results.                                                                                                                                                                                                                                                                                                                            |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| ● | A      continuing slowdown in the United States economy, an uncertain economic      outlook, and fluctuating energy costs could lead to reduced consumer      demand for our products in the future.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| ● | Our      inability to successfully manage labor costs, occupancy costs, or other      operating costs, or our inability to take advantage of opportunities to      reduce operating costs, could adversely affect our operating margins and      our results of operations.  We cannot assure the successful      implementation of our planned cost reduction and capital budget reduction      plans or the realization of our anticipated annualized expense savings      from our restructuring programs.  We may be unable to obtain      adequate insurance for our operations at a reasonable  cost.                                                                                       |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| ● | We      are subject to the Fair Labor Standards Act and various state and Federal      laws and regulations governing such matters as minimum wages, exempt      status classification, overtime, and employee benefits.  Changes      in Federal or state laws or regulations regarding minimum wages,      unionization, or other employee benefits could cause us to incur      additional wage and benefit costs, which could adversely affect our      results of operations.  Changes in legislation limiting interest      rates and other credit card charges that can be billed on credit card      accounts could negatively impact the operating margins of our credit      operation. |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| ● | We      depend on the availability of credit for our working capital needs,      including credit we receive from our suppliers and their agents, and on      our credit card securitization facilities.  The current global      financial crisis could adversely affect our ability or the ability of our      vendors to secure adequate credit financing.  If we or our      vendors are unable to obtain sufficient financing at an affordable cost,      our ability to merchandise our retail stores or e-commerce businesses      could be adversely affected.                                                                                                                            |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |

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| ● | We      plan to refinance our maturing credit card term securitization series with      our credit conduit facilities, which are renewed annually, or through the      issuance of a new term series.  To the extent that our conduit      facilities are not renewed they would begin to amortize and we would      finance this amortization using our committed revolving credit facilities      to the extent available.  There is no assurance that we can      refinance or renew our conduit facilities on terms comparable to our      existing facilities or that there would be sufficient availability under      our revolving credit facilities for such financing.  Without      adequate liquidity, our ability to offer our credit program to our      customers and consequently our financial condition and results of      operations, would be adversely affected. |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| ● | Our      Retail Stores and Direct-to-Consumer segments experience seasonal      fluctuations in net sales and operating income.  Any decrease in      sales or margins during our peak sales periods or in the availability of      working capital during the months preceding such periods could have a      material adverse effect on our business.  In addition, extreme      or unseasonable weather conditions may have a negative impact on our      sales.                                                                                                                                                                                                                                                                                                                                                                                                                              |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| ● | We      cannot assure the successful implementation of our business plan for the      development of our core brands and transformation to a vertical store      model, that we will realize increased profitability through operating      under a vertical store model, or that we will achieve our objectives as      quickly or as effectively as we hope.  We cannot assure the      successful sale of our FIGI’S catalog.                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| ● | We      depend on the efforts and abilities of our executive officers and their      management teams and we may not be able to retain or replace these      employees or recruit additional qualified personnel.  The      inability to find a suitable permanent replacement for our Interim Chief      Executive Officer within a reasonable time period could have a material      adverse affect on our business.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| ● | Our      business plan is largely dependent upon continued growth in the plus-size      women’s apparel market, which may not occur.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| ● | We      depend on our distribution and fulfillment centers and third-party freight      consolidators and service providers, and could incur significantly higher      costs and longer lead times associated with distributing our products to      our stores and shipping our products to our e-commerce and catalog      customers if operations at any of these locations were to be disrupted for      any reason.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| ● | Natural      disasters, as well as war, acts of terrorism, or other armed conflict, or      the threat of any such event may negatively impact availability of      merchandise and customer traffic to our stores, or otherwise adversely      affect our business.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| ● | Successful      operation of our e-commerce websites and our catalog business is dependent      on our ability to maintain efficient and uninterrupted customer service      and fulfillment operations.  We cannot assure the successful      implementation of our new and upgraded e-commerce platform and the      consolidation of our e-commerce business at our Bensalem, Pennsylvania      headquarters.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| ● | We      rely significantly on foreign sources of production and face a variety of      risks generally associated with doing business in foreign markets and      importing merchandise from abroad.  Such risks include (but are      not necessarily limited to) political instability; imposition of or      changes in duties or quotas; trade restrictions; increased security      requirements applicable to imports; delays in shipping; increased costs of      transportation; and issues relating to compliance with domestic or      international labor standards.                                                                                                                                                                                                                                                                                                                            |

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| ● | Our      manufacturers may be unable to manufacture and deliver merchandise to us      in a timely manner or to meet our quality standards.  In      addition, if any one of our manufacturers or vendors fails to operate in      compliance with applicable laws and regulations, is perceived by the      public as failing to meet certain labor standards in the United States, or      employs unfair labor practices, our business could be adversely      affected.                                                                                                                                                                                                                                                                                                                                                                                                              |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| ● | Our      long-term growth plan depends on our ability to open and profitably      operate new retail stores, to convert, where applicable, the formats of      existing stores on a profitable basis, and continue to expand our outlet      distribution channel.  Our retail stores depend upon a high      volume of traffic in the strip centers and malls in which our stores are      located, and our future retail store growth is dependent upon the      availability of suitable locations for new stores.  In addition,      we will need to identify, hire, and retain a sufficient number of      qualified personnel to work in our stores.  We cannot assure      that desirable store locations will continue to be available, or that we      will be able to hire and retain a sufficient number of suitable sales      associates at our stores. |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| ● | We      may be unable to protect our trademarks and other intellectual property      rights, which are important to our success and our competitive      position.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| ● | Inadequate      systems capacity, a disruption or slowdown in telecommunications services,      changes in technology, changes in government regulations, systems issues,      security breaches, a failure to integrate order management systems, or      customer privacy issues could result in reduced sales or increases in      operating expenses as a result of our efforts or our inability to remedy      such issues.                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| ● | We      continually evaluate our portfolio of businesses and may decide to acquire      or divest businesses or enter into joint venture or strategic      alliances.  If we fail to integrate and manage acquired      businesses successfully or fail to manage the risks associated with      divestitures, joint ventures, or other alliances, our business, financial      condition, and operating results could be materially and adversely      affected.                                                                                                                                                                                                                                                                                                                                                                                                                        |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| ● | Pursuant      to Section 404 of the Sarbanes-Oxley Act of 2002, we are required to      include our assessment of the effectiveness of our internal control over      financial reporting in our annual reports.  Our independent      registered public accounting firm is also required to report on whether or      not they believe that we maintained, in all material respects, effective      internal control over financial reporting.  If we are unable to      maintain effective internal control over financial reporting we could be      subject to regulatory sanctions and a possible loss of public confidence      in the reliability of our financial reporting.  Such a failure      could result in our inability to provide timely and/or reliable financial      information and could adversely affect our business.                        |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| ● | The      holders of our 1.125% Senior Convertible Notes due May 1, 2014 (the 1.125%      Notes) could require us to repurchase the principal amount of the notes      for cash before maturity of the notes upon the occurrence of a      “fundamental change” as defined in the prospectus filed in connection with      the 1.125% Notes.  Such a repurchase would require significant      amounts of cash, would be subject to important limitations on our ability      to repurchase, such as the risk of our inability to obtain funds for such      repurchase, and could adversely affect our financial      condition.                                                                                                                                                                                                                                             |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

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| ● | If      the minimum closing bid price of our common stock fails to meet NASDAQ’s      minimum closing bid price requirement of $1.00 per share for a consecutive      30-day period, NASDAQ may take steps to de-list our common      stock.  On March 23, 2009, NASDAQ suspended the $1.00 per share      minimum closing bid price requirement through at least July 20,      2009.  We can provide no assurance, however, that NASDAQ will      extend this rule suspension period beyond July 20, 2009. Such a de-listing      would likely have an adverse impact on our common stock.  We may      seek to avoid this by requesting shareholder approval for a reverse stock      split.  However, we can give no assurance that such action would      stabilize the market price, improve the liquidity of our common stock, or      would prevent our common stock from dropping below the NASDAQ minimum bid      price requirement in the future.  Such consequences may however      be mitigated by our dual-listing on the Chicago Stock      Exchange. Holders      of our 1.125% Notes have the right to require us to repurchase their notes      for cash prior to maturity upon a “fundamental change,” which is deemed to      have occurred if, among other events, our common stock at any time is not      listed for trading on a U.S. national or regional securities      exchange.  Due to the above risk that we could be subject to      de-listing from the NASDAQ Global Select Market, we applied for      dual-listing on the Chicago Stock Exchange (“CHX”) and began trading on      March 26, 2009.  The CHX does not have a $1.00 minimum stock      price requirement for listing. |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| ● | Changes      to existing accounting rules or the adoption of new rules could have an      adverse impact on our reported results of operations.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| ● | We      make certain significant assumptions, estimates, and projections related      to the useful lives and valuation of our property, plant, and equipment      and the valuation of goodwill and other intangible assets related to      acquisitions.  The carrying amount and/or useful life of these      assets are subject to periodic and/or annual valuation tests for      impairment.  Impairment results when the carrying value of an      asset exceeds the undiscounted (or for goodwill and indefinite-lived      intangible assets the discounted) future cash flows associated with the      asset.  If actual experience were to differ materially from the      assumptions, estimates, and projections used to determine useful lives or      the valuation of property, plant, equipment, or intangible assets, a      write-down for impairment of the carrying value of the assets, or      acceleration of depreciation or amortization of the assets, could      result.  Such a write-down or acceleration of depreciation or      amortization could have an adverse impact on our reported results of      operations.  See “CRITICAL ACCOUNTING POLICIES;      Impairment      of Property, Plant, and Equipment, Intangible Assets, and Goodwill”      and “Item 8.  Financial      Statements and Supplementary Data; Notes to Consolidated Financial      Statements; NOTE      13. IMPAIRMENT OF STORE ASSETS, GOODWILL, AND      TRADEMARKS” below.                                                                                                                                                                                                                                                           |

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| (In      millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | 10% Change |   |   | 20% Change |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------|--------|--------|------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |       |   |   |       |   |
| Assumption:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |       |   |   |       |   |
| Payment      rate                                                                                                                            |   | $          | 1.6    |   |       | $      | 2.8 |   |
| Residual      cash flows discount      rate                                                                                                  |   |       | 0.1    |   |       |   | 0.1 |   |
| Credit      loss      percentage                                                                                                             |   |       | 1.6    |   |       |   | 3.2 |   |

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OVERVIEW

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| ● | Refocus      on our core retail brands.                                       |
|---------|-------------------------------------------------------------------------------|
|    |                                                                          |
| ● | Divest      non-core assets.                                                  |
|    |                                                                          |
| ● | Substantially      reduce operating expenses and streamline operations.       |
|    |                                                                          |
| ● | Maintain      and protect our strong balance sheet and liquidity    position. |

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| ● | Corporate      and Brand overhead; |
|---------|------------------------------------|
|    |                               |
| ● | Non-merchandise      expense;      |
|    |                               |
| ● | Occupancy      expense;            |
|    |                               |
| ● | Supply      chain; and             |
|    |                               |
| ● | Store      operations.             |

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|                                                                  |                            |            |    | Percentage      Increase |
|-----------------------------------------------------------------------|---------------------------------|-----------------|---------|--------------------------|
|                                                                  |                            |            |    | (Decrease)               |
|                                                                  | Percentage of Net      Sales(1) | From Prior Year |
|                                                                  | Fiscal                          | Fiscal          | Fiscal  | Fiscal                   | Fiscal |
|                                                                  | 2009                            | 2008            | 2007(2) | 2009-2008                | 2008-2007(2) |
|                                                                  |                            |            |    |                     |   |
| Net      sales                                                        | 100.0%                          | 100.0%          | 100.0%  | (9.1)%                   | (1.1)% |
| Cost      of goods sold, buying, catalog, and                         |                            |            |    |                     |   |
| occupancy    expenses                                                 | 74.6                            | 71.8            | 68.7    | (5.5)                    | 3.4 |
| Selling,      general, and administrative expenses                    | 28.0                            | 26.4            | 25.4    | (3.8)                    | 2.9 |
| Impairment      of store assets, goodwill, and trademarks             | 3.3                             | 1.0             | – | 199.7                    | – |
| Restructuring      and other charges                                  | 1.3                             | 0.2             | – | 521.6                    | – |
| Income/(loss)      from operations                                    | (7.2)                           | 0.6             | 5.9     | **                       | (89.9) |
| Other      income                                                     | 0.2                             | 0.3             | 0.3     | (49.6)                   | 6.3 |
| Interest      expense                                                 | 0.4                             | 0.4             | 0.5     | (16.7)                   | (28.4) |
| Income      tax (benefit)/provision                                   | (0.6)                           | 0.5             | 2.0     | (200.2)                  | (74.3) |
| Income/(loss)      from continuing operations                         | (6.8)                           | 0.0             | 3.7     | **                       | (99.3) |
| Income/(loss)      from discontinued operations, net of taxes         | (3.0)                           | (3.1)           | 0.3     | (11.9)                   | ** |
| Net      income/(loss)                                                | (9.9)                           | (3.1)           | 4.0     | (192.8)                  | (176.6) |
| ____________________                                                  |                            |            |    |                     |   |
|                                                                  |
| (1)          Results may not add due to rounding. |
|                                                                  |
| (2)          Fiscal 2007 consisted of 53 weeks.   |
|                                                                  |
| **          Results notmeaningful.                |

|                                                                                                                                                                                                                                                                                                                                              |   | Year      Ended  |    |   | Year      Ended  |   |   | Year      Ended     |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|---------|--------|------------------|--------|--------|---------------------|--------|
|                                                                                                                                                                                                                                                                                                                                              |   | January 31, 2009 |    |   | February 2, 2008 |   |   | February 3, 2007(1) |   |
|                                                                                                                                                                                                                                                                                                                                              |   | Fiscal           |    |   | Fourth           |   |   | Fiscal              |   |   | Fourth |   |   | Fiscal |   |   | Fourth |   |
| (In      millions)                                                                                                                                                                                                                                                                                                                                |   | Year             |    |   | Quarter          |   |   | Year                |   |   | Quarter |   |   | Year |   |   | Quarter |   |
|                                                                                                                                                                                                                                                                                                                                              |   |             |    |   |             |   |   |                |   |   |   |   |   |   |   |   |   |   |
| LANE      BRYANT(2)                                                                     |   | $                | 1,111.9 |   |             | $      | 273.0  |                |   | $ | 1,237.6 |   |   | $ | 323.6 |   |   | $ | 1,202.3 |   |   | $ | 357.1 |   |
| FASHION      BUG                                                                        |   |             | 843.8   |   |             |   | 183.8  |                |   |   | 984.1 |   |   |   | 225.8 |   |   |   | 1,058.3 |   |   |   | 269.1 |   |
| CATHERINES                                                                              |   |             | 312.1   |   |             |   | 68.1   |                |   |   | 353.2 |   |   |   | 76.8 |   |   |   | 367.7 |   |   |   | 91.5 |   |
| Other      retail stores(3)                                                             |   |             | 24.3    |   |             |   | 5.5    |                |   |   | 15.8 |   |   |   | 5.7 |   |   |   | 8.1 |   |   |   | 6.2 |   |
| Total      Retail Stores      segment                                                   |   |             | 2,292.1 |   |             |   | 530.4  |                |   |   | 2,590.7 |   |   |   | 631.9 |   |   |   | 2,636.4 |   |   |   | 723.9 |   |
| Total      Direct-to-Consumer segment                                                                                                                                                                                                                                                                                                             |   |             | 167.5   |   |             |   | 96.7   |                |   |   | 120.6 |   |   |   | 95.9 |   |   |   | 112.1 |   |   |   | 94.9 |   |
| Corporate      and other(4)                                                             |   |             | 15.3    |   |             |   | 4.8    |                |   |   | 11.2 |   |   |   | 4.0 |   |   |   | 3.3 |   |   |   | 1.9 |   |
| Total      net      sales                                                               |   | $                | 2,474.9 |   |             | $      | 631.9  |                |   | $ | 2,722.5 |   |   | $ | 731.8 |   |   | $ | 2,751.8 |   |   | $ | 820.7 |   |
| ____________________                                                                                                                                                                                                                                                                                                                              |   |             |    |   |             |   |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                              |   |
| (1)          Fiscal Year 2007 and Fourth Quarter 2007 consisted of 53 weeks and 14      weeks, respectively.                                                                                                                                                                                                                  |   |
|                                                                                                                                                                                                                                                                                                                                              |   |
| (2)          Includes LANE BRYANT OUTLET stores.                                                                                                                                                                                                                                                                              |   |
|                                                                                                                                                                                                                                                                                                                                              |   |
| (3)          Includes PETITE SOPHISTICATE OUTLET stores, which began operations in      September 2006, and PETITE SOPHISTICATE stores, which began operations in      October 2007 and were closed in August 2008.                                                                                                           |   |
|                                                                                                                                                                                                                                                                                                                                              |   |
| (4)          Primarily revenue related to loyalty card fees.                                                                                                                                                                                                                                                                  |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | Year      Ended         | Year      Ended         |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------|-------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | January 31, 2009        | February 2, 2008(1)     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | Fiscal                  | Fourth                  | Fiscal | Fourth |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | Year                    | Quarter                 | Year | Quarter |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                    |                    |   |   |
| Retail      Stores segment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                    |                    |   |   |
| Increase/(decrease)      in comparable store sales:(2)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                    |                    |   |   |
| Consolidated retail      stores                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |         (12)% |         (15)% |         (5)% |         (9)% |
| LANE BRYANT(4)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | (12)                    | (17)                    | (6) | (9) |
| FASHION      BUG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | (11)                    | (14)                    | (4) | (8) |
| CATHERINES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (13)                    | (11)                    | (3) | (11) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                    |                    |   |   |
| Sales      from new stores as a percentage of total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                    |                    |   |   |
| consolidated prior-period net      sales:(3)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                    |                    |   |   |
| LANE BRYANT(4)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 4                       | 3                       | 6 | 3 |
| FASHION      BUG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 1                       | 0                       | 1 | 1 |
| CATHERINES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 0                       | 0                       | 0 | 0 |
| Other retail stores(5)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 0                       | 0                       | 0 | 2 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                    |                    |   |   |
| Prior-period      sales from closed stores as a percentage                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                    |                    |   |   |
| of total consolidated      prior-period net sales:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                    |                    |   |   |
| LANE BRYANT(4)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | (3)                     | (3)                     | (1) | (1) |
| FASHION      BUG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | (2)                     | (2)                     | (1) | (1) |
| CATHERINES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 0                       | 0                       | 0 | 0 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                    |                    |   |   |
| Decrease      in Retail Stores segment      sales                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (12)                    | (16)                    | (2) | (13) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                    |                    |   |   |
| Direct-to-Consumer      segment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                    |                    |   |   |
| Increase      in Direct-to-Consumer segment      sales                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 39(6)                   | 1(6)                    | 8 | (1) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                    |                    |   |   |
| Decrease      in consolidated total net      sales                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | (9)                     | (14)                    | (1) | (11) |
| ____________________                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                    |                    |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| (1)          Fiscal Year 2007 consisted of 53 weeks and Fourth Quarter 2007 consisted      of 14 weeks.  Comparable store sales and changes in sales from      new stores and closed stores are based on equivalent 52-week and 13-week      periods.  The decrease in Retail Stores segment sales,      increase/(decrease) in Direct-to-Consumer segment sales, and decrease in      consolidated net sales are based on the 52-week and 13-week periods for      Fiscal 2008 and the 53-week and 14-week periods for Fiscal      2007.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| (2)          “Comparable store sales” is not a measure that has been defined under      generally accepted accounting principles.  The method of      calculating comparable store sales varies across the retail industry and,      therefore, our calculation of comparable store sales is not necessarily      comparable to similarly-titled measures reported by other      companies.  We define comparable store sales as sales from      stores operating in both the current and prior-year      periods.  New stores are added to the comparable store sales      base 13 months after their open date.  Sales from stores that      are relocated within the same mall or strip-center, remodeled, or have a      legal square footage change of less than 20% are included in the      calculation of comparable store sales.  Sales from stores that      are relocated outside the existing mall or strip-center, or have a legal      square footage change of 20% or more, are excluded from the calculation of      comparable store sales until 13 months after the relocated store is      opened.  Stores that are temporarily closed for a period of 4      weeks or more are excluded from the calculation of comparable store sales      for the applicable periods in the year of closure and the subsequent      year.  Non-store sales, such as catalog and internet sales, are      excluded from the calculation of comparable storesales. |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| (3)          Includes incremental Retail Stores segment e-commerce    sales.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| (4)          Includes LANE BRYANT OUTLET stores.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| (5)          Includes PETITE SOPHISTICATE stores, which were closed in August 2008, and      PETITE SOPHISTICATE OUTLET stores.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| (6)          Primarily due to LANE BRYANT WOMAN catalog, which began operations in the      latter half of Fiscal 2008.  During the third quarter of Fiscal      2009 we decided to discontinue the LANE BRYANT WOMAN catalog during the      first quarter of Fiscal2010.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |

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|                                                                                                                                                                                                                                                                                                        |   | FASHION |   |   | LANE   |   |   |       |   |   |     |   |   |   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------|--------|--------|--------|--------|--------|------------|--------|--------|----------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                        |   | BUG     |   |   | BRYANT |   |   | CATHERINES |   |   | Other(1) |   |   | Total  |   |
|                                                                                                                                                                                                                                                                                                        |   |    |   |   |   |   |   |       |   |   |     |   |   |   |   |
| Fiscal      2009:                                                                                                                                                                                                                                                                                           |   |    |   |   |   |   |   |       |   |   |     |   |   |   |   |
| Stores      at February 2, 2008                                                                                                                                                                                                                                                                             |   |    | 989    |   |   |   | 896    |       |   |   | 468      |   |   |   | 56     |   |   |   | 2,409 |   |
|                                                                                                                                                                                                                                                                                                        |   |    |   |   |   |   |   |       |   |   |     |   |   |   |   |   |   |   |   |   |
| Stores      opened                                                              |   |    | 5      |   |   |   | 32     | (2)        |   |   | 7        |   |   |   | 4      |   |   |   | 48 |   |
| Stores      closed(3)                                                           |   |    | (97    | )      |   |   | (36    | )          |   |   | (12      | )      |   |   | (11    | ) |   |   | (156 | ) |
| Net      change in      stores                                                  |   |    | (92    | )      |   |   | (4     | )          |   |   | (5       | )      |   |   | (7     | ) |   |   | (108 | ) |
|                                                                                                                                                                                                                                                                                                        |   |    |   |   |   |   |   |       |   |   |     |   |   |   |   |   |   |   |   |   |
| Stores      at January 31, 2009                                                                                                                                                                                                                                                                             |   |    | 897    |   |   |   | 892    |       |   |   | 463      |   |   |   | 49     |   |   |   | 2,301 |   |
|                                                                                                                                                                                                                                                                                                        |   |    |   |   |   |   |   |       |   |   |     |   |   |   |   |   |   |   |   |   |
| Stores      relocated during period                                                                                                                                                                                                                                                                         |   |    | 10     |   |   |   | 36     |       |   |   | 6        |   |   |   | 0      |   |   |   | 52 |   |
|                                                                                                                                                                                                                                                                                                        |   |    |   |   |   |   |   |       |   |   |     |   |   |   |   |   |   |   |   |   |
| Fiscal      2010                                                                                                                                                                                                                                                                                            |   |    |   |   |   |   |   |       |   |   |     |   |   |   |   |   |   |   |   |   |
| Planned      store      openings                                                |   |    | 0      |   |   |   | 6      |       |   |   | 0        |   |   |   | 0      |   |   |   | 6 |   |
| Planned      store closings(4)                                                  |   |    | 45     |   |   |   | 30     | (5)        |   |   | 13       |   |   |   | 12     | (6) |   |   | 100 |   |
| Planned      store      relocations                                             |   |    | 3      |   |   |   | 9      |       |   |   | 0        |   |   |   | 0      |   |   |   | 12 |   |
| ____________________                                                                                                                                                                                                                                                                                        |   |
|                                                                                                                                                                                                                                                                                                        |   |
| (1)          Includes PETITE SOPHISTICATE and PETITE SOPHISTICATE OUTLET      stores.                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                        |   |
| (2)          Includes 7 LANE BRYANT OUTLET stores.                                                                                                                                                                                                                                      |   |
|                                                                                                                                                                                                                                                                                                        |   |
| (3)          Includes 78 FASHION BUG, 10 CATHERINES, 21 LANE BRYANT, 2 LANE BRYANT      OUTLET, 1 PETITE SOPHISTICATE OUTLET and 4 PETITE SOPHISTICATE stores      closed as part of the streamlining initiatives announced in February      2008.                                      |   |
|                                                                                                                                                                                                                                                                                                        |   |
| (4)          Includes approximately 100 under-performing stores to be closed as      announced in November 2008.                                                                                                                                                                        |   |
|                                                                                                                                                                                                                                                                                                        |   |
| (5)          Includes 1 LANE BRYANT OUTLET store.                                                                                                                                                                                                                                       |   |
|                                                                                                                                                                                                                                                                                                        |   |
| (6)          PETITE SOPHISTICATE OUTLET stores.                                                                                                                                                                                                                                         |   |

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| ● | $13.3      million for severance, retention, and related costs (including $9.4      million of severance costs in connection with the resignation of our      former Chief Executive Officer, Dorrit J. Bern, in July    2008). |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                            |
| ● | $10.5      million for lease termination costs, non-cash accelerated depreciation,      and severance and retention related to initiatives announced during the      fourth quarter of Fiscal 2008.                             |
|    |                                                                                                                                                                                                                            |
| ● | $2.5      million for severance and non-cash accelerated depreciation for the      planned shutdown of the LANE BRYANT WOMAN catalog    operations.                                                                             |
|    |                                                                                                                                                                                                                            |
| ● | $3.4      million for accelerated depreciation and asset write-downs related to      fixed assets retained from the sale of the non-core misses apparel catalog      business.                                                  |
|    |                                                                                                                                                                                                                            |
| ● | $3.4      million for costs related to other business transformation      initiatives.                                                                                                                                          |

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| ● | $2.7      million for costs related to the transformation of our      operations  into a vertical specialty store    model.                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                           |
| ● | $2.4      million for accelerated depreciation and asset write-downs related to      fixed assets retained from the sale of the non-core misses apparel catalog      business. |
|    |                                                                                                                                                                           |
| ● | $2.0      million for severance, retention, and related costs.                                                                                                                 |
|    |                                                                                                                                                                           |
| ● | $1.3      million for severance and non-cash accelerated depreciation for the      planned shutdown of the LANE BRYANT CATALOG operations.                                     |
|    |                                                                                                                                                                           |
| ● | $(0.2)      million credit related to a reduction of a lease termination      liability.                                                                                       |

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FINANCIAL CONDITION

|                                       |   | Fiscal |    |   | Fiscal |   |    | Fiscal |   |
|--------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
| (Dollars      in thousands)                |   | 2009   |    |   | 2008   |   |    | 2007   |   |
|                                       |   |   |    |   |   |   |    |   |   |
| Cash      and cash equivalents             |   | $      | 93,759  |   |   | $      | 60,978  |   |   | $ | 143,349 |   |
| Available-for-sale      securities         |   |   | 6,398   |   |   |   | 13,364  |   |   |   | 1,997 |   |
| Cash      provided by operating activities |   |   | 49,566  |   |   |   | 159,845 |   |   |   | 186,954 |   |
| Working      capital                       |   |   | 382,651 |   |   |   | 495,096 |   |   |   | 410,193 |   |
| Current      ratio                         |   |   | 2.4     |   |   |   | 2.4     |   |   |   | 2.2 |   |
| Long-term      debt to equity ratio        |   |   | 65.6    | %      |   |   | 41.9    | %      |   |   | 19.1 | % |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Payments      Due by Period |    |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                        |    |   |   |   |   | One      to |   |   | Three |   |   | More |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                        |    |   | Less      Than |   |   | Three |   |   | To      Five |   |   | than      Five |   |
| (In      millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | Total                       |    |   | One Year |   |   | Years |   |   | Years |   |   | Years |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                        |    |   |   |   |   |   |   |   |   |   |   |   |   |
| Long-term      debt, including current portion(1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | $                           | 316.4   |   |   | $ | 7.6 |   |   | $ | 19.5 |   |   | $ | 282.6 |   |   | $ | 6.7 |   |
| Capital      leases                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                        | 15.7    |   |   |   | 4.4 |   |   |   | 7.8 |   |   |   | 3.5 |   |   |   | 0.0 |   |
| Operating      leases(2)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                        | 932.5   |   |   |   | 227.9 |   |   |   | 336.3 |   |   |   | 194.1 |   |   |   | 174.2 |   |
| Revolving      credit facility(3)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                        | 0.0     |   |   |   | 0.0 |   |   |   | 0.0 |   |   |   | 0.0 |   |   |   | 0.0 |   |
| Letters      of credit(3)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                        | 0.2     |   |   |   | 0.2 |   |   |   | 0.0 |   |   |   | 0.0 |   |   |   | 0.0 |   |
| Stand-by      letters of credit(3)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                        | 15.7    |   |   |   | 15.7 |   |   |   | 0.0 |   |   |   | 0.0 |   |   |   | 0.0 |   |
| Long-term      deferred compensation(4)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                        | 0.7     |   |   |   | 0.4 |   |   |   | 0.2 |   |   |   | 0.0 |   |   |   | 0.1 |   |
| Unrecognized      tax benefits(5)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                        | 1.3     |   |   |   | 1.3 |   |   |   | – |   |   |   | – |   |   |   | – |   |
| Split-dollar      life insurance premiums(6)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                        | 19.3    |   |   |   | 1.5 |   |   |   | 2.9 |   |   |   | 2.7 |   |   |   | 12.2 |   |
| Purchase      commitments(7)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                        | 384.1   |   |   |   | 384.1 |   |   |   | 0.0 |   |   |   | 0.0 |   |   |   | 0.0 |   |
| Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | $                           | 1,685.9 |   |   | $ | 643.1 |   |   | $ | 366.7 |   |   | $ | 482.9 |   |   | $ | 193.2 |   |
| ____________________                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                        |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
| (1)          Amounts represent the expected cash payments (including interest) of our      long-term debt (including our convertible debt through maturity and      excluding capital leases) and do not include any fair value adjustments,      bond premiums, discounts, or revolving credit facilities.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
| (2)          Commitments under operating leases include $3.6 million payable under the      LANE BRYANT master sublease with Limited Brands, Inc., which we have      guaranteed.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
| (3)          We currently have a $375 million revolving credit facility that expires on      July 28, 2010, which provides for cash borrowings and the ability to issue      up to $300 million of letters of credit. As of January 31, 2009,      there were no borrowings outstanding under this facility.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
| (4)          Includes our non-qualified deferred compensation plan and supplemental      retirement plan. We have estimated the projected payment      obligations for participant planned in-service distributions of the      deferred compensation plan liability as of January 31, 2009. The      above estimate excludes $17.4 million of benefit distribution      obligations because the value of the obligations and the timing of      payments may vary annually due to changes in the fair value of the plan      assets and/or assumptions for participant retirement/termination.                       We terminated our supplemental retirement plan as of December 31,      2008. Effective December 31, 2008 we will cease making retirement      credits to the plan, the interest rate to be credited on participants’      accounts will be reduced, and participants’ accounts will become fully      vested. Participants may elect to receive a distribution of their      accounts according to a fixed distribution schedule, which extends over      one to three years based on the account balance. The interest rate      reduction, distribution elections, and accelerated vesting only apply to      participants who are currently active employees. |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
| (5)          In accordance with FIN No. 48 (see “CRITICAL ACCOUNTING POLICIES;      Income Taxes” above) we have recorded liabilities for unrecognized      tax benefits of $29.2 million and accrued interest and penalties of $12.7      as of January 31, 2009. These liabilities are included in “Other      long-term liabilities” on our consolidated balance sheet. With the      exception of $1.3 million of unrecognized tax benefits that are reasonably      possible of being recognized within 12 months, we have excluded these      liabilities from this table because we cannot make reasonably reliable      estimates of the amounts and/or periods that we expect to pay or settle      these liabilities.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
| (6)          Amounts represent insurance premiums related to split-dollar life      insurance agreements with former executive employees.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
| (7)          Purchase commitments include agreements to purchase goods or services in      the ordinary course of business.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |

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| (Dollars      in millions)                                                                                                                                                                                                                                                                                                                                                                     | Series 1999-2          | Series 2004-VFC        | Series 2004-1       | Series 2007-1       |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------|------------------------|---------------------|---------------------|
|                                                                                                                                                                                                                                                                                                                                                                                           |                   |                   |                |                |
| Date      of      facility                                                                                                                          | May      1999          | January      2004      | August      2004    | October      2007   |
| Type      of      facility                                                                                                                          | Conduit                | Conduit                | Term                | Term                |
| Maximum      funding                                                                                                                                | $50.0                  | $105.0(1)              | $180.0              | $320.0              |
| Funding      as of January 31, 2009                                                                                                                                                                                                                                                                                                                                                            | $42.0                  | $0.0                   | $180.0              | $320.0              |
| First      scheduled principal payment                                                                                                                                                                                                                                                                                                                                                         | Not      applicable    | Not      applicable    | April      2009     | April      2012     |
| Expected      final principal payment                                                                                                                                                                                                                                                                                                                                                          | Not      applicable(2) | Not      applicable(2) | March      2010     | March      2013     |
| Next      renewal      date                                                                                                                         | March      2009(3)     | January      2010      | Not      applicable | Not      applicable |
| ____________________                                                                                                                                                                                                                                                                                                                                                                           |
|                                                                                                                                                                                                                                                                                                                                                                                           |
| (1)          The maximum funding capacity of Series 2004-VFC was increased from $50.0      million to $105.0 million on November 14, 2008.                                                                                                                                                                                                                                 |
|                                                                                                                                                                                                                                                                                                                                                                                           |
| (2)          Series 1999-2 and Series 2004-VFC have scheduled final payment dates that      occur in the twelfth month following the month in which the series begins      amortizing.  These series begin amortizing on the next renewal      date subject to the further extension of the renewal date as a result of      renewal of the purchase commitment. |
|                                                                                                                                                                                                                                                                                                                                                                                           |
| (3)          Subsequent to January 31, 2009 the Series 1999-2 facility was renewed      through March 30,2010.                                                                                                                                                                                                                                                             |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | Year      Ended  |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | January      31, |   |   | February      2, |   |   | February      3, |   |
| (In      millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | 2009             |   |   | 2008 |   |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |             |   |   |   |   |   |   |   |
| Net      securitization excess spread      revenues                                                                                     |   | $                | 98.5   |   |   | $ | 79.0 |   |   | $ | 69.8 |   |
| Net      additions to the I/O strip and servicing liability                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             | (4.0   | ) |   |   | 6.4 |   |   |   | 1.0 |   |
| Other      credit card revenues, net(1)                                                                                                 |   |             | 12.3   |   |   |   | 11.2 |   |   |   | 9.4 |   |
| Total      credit card      revenues                                                                                                    |   |             | 106.8  |   |   |   | 96.6 |   |   |   | 80.2 |   |
| Less      total credit card program      expenses                                                                                       |   |             | 68.3   |   |   |   | 58.5 |   |   |   | 44.0 |   |
| Total      credit      contribution                                                                                                     |   | $                | 38.5   |   |   | $ | 38.1 |   |   | $ | 36.2 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |             |   |   |   |   |   |   |   |   |   |   |
| ____________________                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |             |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
| (1)          Excludes inter-company merchant fees between our credit entities and      our retail entities.                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | Year      Ended  |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | January      31, |   |   | February      2, |   |   | February      3, |   |
| (In      millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 2009             |   |   | 2008 |   |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |             |   |   |   |   |   |   |   |
| Average      managed receivables      outstanding                                                                                     |   | $                | 579.3  |   |   | $ | 427.4 |   |   | $ | 363.5 |   |
| Ending      managed receivables      outstanding                                                                                      |   | $                | 535.9  |   |   | $ | 613.2 |   |   | $ | 366.7 |   |

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Item 8.  Financial Statements andSupplementary Data

MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIALREPORTING

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMON INTERNAL

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|   | /S/      ERNST & YOUNG LLP |
|--------|--------------------------------|

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTINGFIRM

|   | /S/      ERNST & YOUNG LLP |
|--------|--------------------------------|

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CHARMING SHOPPES, INC. AND SUBSIDIARIES

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | January      31, |      |   | February      2, |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|-----------|--------|------------------|--------|
| (In      thousands, except share amounts)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 2009             |      |   | 2008             |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |             |      |   |             |   |
| ASSETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |             |      |   |             |   |
| Current      assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |             |      |   |             |   |
| Cash      and cash      equivalents                                                                                                                        |   | $                | 93,759    |   |             | $      | 60,978 |   |
| Available-for-sale      securities                                                                                                                         |   |             | 6,398     |   |             |   | 13,364 |   |
| Accounts      receivable, net of allowances of $6,018 and $6,262                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |             | 33,300    |   |             |   | 33,535 |   |
| Investment      in asset-backed      securities                                                                                                            |   |             | 94,453    |   |             |   | 115,912 |   |
| Merchandise      inventories                                                                                                                               |   |             | 268,142   |   |             |   | 330,224 |   |
| Deferred      taxes                                                                                                                                        |   |             | 4,066     |   |             |   | 9,686 |   |
| Prepayments      and      other                                                                                                                            |   |             | 155,430   |   |             |   | 155,997 |   |
| Current      assets of discontinued      operations                                                                                                        |   |             | 0         |   |             |   | 121,695 |   |
| Total current      assets                                                                                                                                                                |   |             | 655,548   |   |             |   | 841,391 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |             |      |   |             |   |   |   |
| Property,      equipment, and leasehold improvements – at cost                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |             | 1,076,972 |   |             |   | 1,117,559 |   |
| Less      accumulated depreciation and      amortization                                                                                                   |   |             | 693,796   |   |             |   | 658,410 |   |
| Net property, equipment, and      leasehold improvements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |             | 383,176   |   |             |   | 459,149 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |             |      |   |             |   |   |   |
| Trademarks      and other intangible      assets                                                                                                           |   |             | 187,365   |   |             |   | 189,562 |   |
| Goodwill                                                                                                                                                   |   |             | 23,436    |   |             |   | 66,666 |   |
| Other      assets                                                                                                                                          |   |             | 30,167    |   |             |   | 56,536 |   |
| Total      assets                                                                                                                                          |   | $                | 1,279,692 |   |             | $      | 1,613,304 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |             |      |   |             |   |   |   |
| LIABILITIES      AND STOCKHOLDERS’ EQUITY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |             |      |   |             |   |   |   |
| Current      liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |             |      |   |             |   |   |   |
| Accounts      payable                                                                                                                                      |   | $                | 99,520    |   |             | $      | 130,061 |   |
| Accrued      expenses                                                                                                                                      |   |             | 166,631   |   |             |   | 161,476 |   |
| Current      liabilities of discontinued      operations                                                                                                   |   |             | 0         |   |             |   | 45,931 |   |
| Current      portion – long-term      debt                                                                                                           |   |             | 6,746     |   |             |   | 8,827 |   |
| Total current      liabilities                                                                                                                                                           |   |             | 272,897   |   |             |   | 346,295 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |             |      |   |             |   |   |   |
| Deferred      taxes                                                                                                                                        |   |             | 46,824    |   |             |   | 37,942 |   |
| Other      non-current      liabilities                                                                                                                    |   |             | 188,470   |   |             |   | 192,454 |   |
| Long-term      debt                                                                                                                                        |   |             | 305,635   |   |             |   | 306,169 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |             |      |   |             |   |   |   |
| Stockholders’      equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |             |      |   |             |   |   |   |
| Common      stock $.10 par value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |             |      |   |             |   |   |   |
| Authorized – 300,000,000      shares                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             |      |   |             |   |   |   |
| Issued –153,482,368 shares and      151,569,850      shares                                                                                                                        |   |             | 15,348    |   |             |   | 15,157 |   |
| Additional      paid-in      capital                                                                                                                       |   |             | 411,623   |   |             |   | 407,499 |   |
| Treasury      stock at cost – 38,482,213 shares and 36,477,246 shares                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |             | (347,730  | )      |             |   | (336,761 | ) |
| Accumulated      other comprehensive      income                                                                                                           |   |             | 5         |   |             |   | 22 |   |
| Retained      earnings                                                                                                                                     |   |             | 386,620   |   |             |   | 644,527 |   |
| Total stockholders’      equity                                                                                                                                                    |   |             | 465,866   |   |             |   | 730,444 |   |
| Total      liabilities and stockholders’      equity                                                                                                 |   | $                | 1,279,692 |   |             | $      | 1,613,304 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |             |      |   |             |   |   |   |
| Certain      prior-year amounts have been reclassified to conform to the current-year      presentation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |
| See      Notes to Consolidated Financial Statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |

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CHARMING SHOPPES, INC. AND SUBSIDIARIES

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | Year      Ended  |      |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|-----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | January      31, |      |   | February      2, |   |   | February      3, |   |
| (In      thousands, except per share amounts)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | 2009             |      |   | 2008 |   |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             |      |   |   |   |   |   |   |
| Net      sales                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | $                | 2,474,898 |   |   | $ | 2,722,462 |   |   | $ | 2,751,845 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             |      |   |   |   |   |   |   |   |   |   |
| Cost      of goods sold, buying, catalog, and occupancy expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |             | 1,846,954 |   |   |   | 1,954,495 |   |   |   | 1,890,565 |   |
| Selling,      general, and administrative expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |             | 692,110   |   |   |   | 719,107 |   |   |   | 699,009 |   |
| Impairment      of store assets, goodwill, and      trademarks                                                                                          |   |             | 81,498    |   |   |   | 27,197 |   |   |   | 0 |   |
| Restructuring      and other      charges                                                                                                               |   |             | 33,145    |   |   |   | 5,332 |   |   |   | 0 |   |
| Total      operating expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |             | 2,653,707 |   |   |   | 2,706,131 |   |   |   | 2,589,574 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             |      |   |   |   |   |   |   |   |   |   |
| Income/(loss)      from operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |             | (178,809  | ) |   |   | 16,331 |   |   |   | 162,271 |   |
| Other      income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |             | 4,430     |   |   |   | 8,793 |   |   |   | 8,273 |   |
| Interest      expense                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |             | (8,795    | ) |   |   | (10,552 | ) |   |   | (14,746 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             |      |   |   |   |   |   |   |   |   |   |
| Income/(loss)      from continuing operations before income taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |             |      |   |   |   |   |   |   |   |   |   |
| and extraordinary      item                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |             | (183,174  | ) |   |   | 14,572 |   |   |   | 155,798 |   |
| Income      tax (benefit)/provision                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |             | (13,885   | ) |   |   | 13,858 |   |   |   | 53,839 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             |      |   |   |   |   |   |   |   |   |   |
| Income/(loss)      from continuing operations before extraordinary item                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |             | (169,289  | ) |   |   | 714 |   |   |   | 101,959 |   |
| Income/(loss)      from discontinued operations, net of income tax                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |             |      |   |   |   |   |   |   |   |   |   |
| benefit/(expense) of $10,241      in 2008 and $(3,361) in 2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |             | (74,922   | ) |   |   | (85,039 | ) |   |   | 6,964 |   |
| Extraordinary      item, net of income tax provision of $582                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |             | 0         |   |   |   | 912 |   |   |   | 0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             |      |   |   |   |   |   |   |   |   |   |
| Net      income/(loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |             | (244,211  | ) |   |   | (83,413 | ) |   |   | 108,923 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             |      |   |   |   |   |   |   |   |   |   |
| Other      comprehensive income/(loss), net of tax:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |             |      |   |   |   |   |   |   |   |   |   |
| Unrealized      gains/(losses) on available-for-sale securities,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |             |      |   |   |   |   |   |   |   |   |   |
| net of income tax      provision/(benefit) of $(10) in 2009,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |             |      |   |   |   |   |   |   |   |   |   |
| $14 in 2008, and $3 in      2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |             | (17       | ) |   |   | 21 |   |   |   | 4 |   |
| Total      other comprehensive income/(loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |             | (17       | ) |   |   | 21 |   |   |   | 4 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             |      |   |   |   |   |   |   |   |   |   |
| Comprehensive      income/(loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $                | (244,228  | ) |   | $ | (83,392 | ) |   | $ | 108,927 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             |      |   |   |   |   |   |   |   |   |   |
| Basic      net income/(loss) per share:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |             |      |   |   |   |   |   |   |   |   |   |
| Income/(loss)      from continuing operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | $                | (1.48     | ) |   | $ | .01 |   |   | $ | .83 |   |
| Income/(loss)      from discontinued operations, net of income taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             | (.65      | ) |   |   | (.70 | ) |   |   | .06 |   |
| Extraordinary      item, net of income taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |             | .00       |   |   |   | .01 |   |   |   | .00 |   |
| Net      income/(loss) per share(1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | $                | (2.13     | ) |   | $ | (.69 | ) |   | $ | .89 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             |      |   |   |   |   |   |   |   |   |   |
| Diluted      net income/(loss) per share:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |             |      |   |   |   |   |   |   |   |   |   |
| Income/(loss)      from continuing operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | $                | (1.48     | ) |   | $ | .01 |   |   | $ | .76 |   |
| Income/(loss)      from discontinued operations, net of income taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             | (.65      | ) |   |   | (.69 | ) |   |   | .05 |   |
| Extraordinary      item, net of income taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |             | .00       |   |   |   | .01 |   |   |   | .00 |   |
| Net      income/(loss) per share(1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | $                | (2.13     | ) |   | $ | (.68 | ) |   | $ | .81 |   |
| ____________________                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             |      |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| (1)         Results may not add due to rounding.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| See      Notes to Consolidated Financial Statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |

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CHARMING SHOPPES, INC. AND SUBSIDIARIES

|                                                                                                                                                                                                                                                                                                                                                                           |   |         |        |   |    |   |   | Additional     |   |   |    |   |   |   |        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|-------------|--------|---------|--------|--------|----------------|--------|--------|---------|--------|--------|--------|-------------|
|                                                                                                                                                                                                                                                                                                                                                                           |   | Common Stock |        |   | Paid-in |   |   | Treasury Stock |   |
| (Dollars      in thousands)                                                                                                                                                                                                                                                                                                                                                    |   | Shares       |        |   | Amount  |   |   | Capital        |   |   | Shares  |   |   | Amount |        |
|                                                                                                                                                                                                                                                                                                                                                                           |   |         |        |   |    |   |   |           |   |   |    |   |   |   |        |
| Balance,      January 28,      2006                                                              |   |         | 133,954,852 |   |    | $      | 13,395 |           |   | $      | 261,077 |   |   |   | (12,265,993 | ) |   | $ | (84,136 | ) |
| Issued      to employees,      net                                                               |   |         | 361,477     |   |    |   | 36     |           |   |   | 783     |   |   |   |        |   |   |   |   |   |
| Exercise      of stock      options                                                              |   |         | 1,536,580   |   |    |   | 154    |           |   |   | 9,011   |   |   |   |        |   |   |   |   |   |
| Withheld      for payment of employee                                                                                                                                                                                                                                                                                                                                          |   |         |        |   |    |   |   |           |   |   |    |   |   |   |        |   |   |   |   |   |
| payroll taxes due on shares      issued                                                                                                                                                                                                                                                                                                                                        |   |         |        |   |    |   |   |           |   |   |    |   |   |   |        |   |   |   |   |   |
| under employee stock      plans                                                                                                |   |         | (90,378     | )      |    |   | (9     | )              |   |   | (1,217  | )      |   |   |        |   |   |   |   |   |
| Stock-based      compensation      expense                                                       |   |         |        |   |    |   |   |           |   |   | 10,386  |   |   |   |        |   |   |   |   |   |
| Tax      benefit – employee stock programs                                                                                                                                                                                                                                                                                                                               |   |         |        |   |    |   |   |           |   |   | 5,119   |   |   |   |        |   |   |   |   |   |
| Balance,      February 3,      2007                                                              |   |         | 135,762,531 |   |    |   | 13,576 |           |   |   | 285,159 |   |   |   | (12,265,993 | ) |   |   | (84,136 | ) |
| Issued      to employees,      net                                                               |   |         | 462,724     |   |    |   | 46     |           |   |   | 163     |   |   |   |        |   |   |   |   |   |
| Exercise      of stock      options                                                              |   |         | 304,120     |   |    |   | 30     |           |   |   | 1,412   |   |   |   |        |   |   |   |   |   |
| Withheld      for payment of employee                                                                                                                                                                                                                                                                                                                                          |   |         |        |   |    |   |   |           |   |   |    |   |   |   |        |   |   |   |   |   |
| payroll taxes due on shares      issued                                                                                                                                                                                                                                                                                                                                        |   |         |        |   |    |   |   |           |   |   |    |   |   |   |        |   |   |   |   |   |
| under employee stock      plans                                                                                                |   |         | (105,081    | )      |    |   | (10    | )              |   |   | (1,183  | )      |   |   |        |   |   |   |   |   |
| Issued      for redemption of convertible notes                                                                                                                                                                                                                                                                                                                                |   |         | 15,145,556  |   |    |   | 1,515  |           |   |   | 148,049 |   |   |   |        |   |   |   |   |   |
| Sale      of common stock      warrants                                                          |   |         |        |   |    |   |   |           |   |   | 53,955  |   |   |   |        |   |   |   |   |   |
| Purchase      of common stock call options                                                                                                                                                                                                                                                                                                                                     |   |         |        |   |    |   |   |           |   |   | (90,475 | )      |   |   |        |   |   |   |   |   |
| Tax      benefit – call      options                                                       |   |         |        |   |    |   |   |           |   |   | 2,705   |   |   |   |        |   |   |   |   |   |
| Stock-based      compensation      expense                                                       |   |         |        |   |    |   |   |           |   |   | 7,101   |   |   |   |        |   |   |   |   |   |
| Tax      benefit – employee stock programs                                                                                                                                                                                                                                                                                                                               |   |         |        |   |    |   |   |           |   |   | 613     |   |   |   |        |   |   |   |   |   |
| Purchases      of treasury      stock                                                            |   |         |        |   |    |   |   |           |   |   |    |   |   |   | (24,211,253 | ) |   |   | (252,625 | ) |
| Balance,      February 2,      2008                                                              |   |         | 151,569,850 |   |    |   | 15,157 |           |   |   | 407,499 |   |   |   | (36,477,246 | ) |   |   | (336,761 | ) |
| Issued      to employees,      net                                                               |   |         | 2,035,360   |   |    |   | 204    |           |   |   | 484     |   |   |   |        |   |   |   |   |   |
| Exercise      of stock      options                                                              |   |         | 232,898     |   |    |   | 23     |           |   |   | 911     |   |   |   |        |   |   |   |   |   |
| Withheld      for payment of employee                                                                                                                                                                                                                                                                                                                                          |   |         |        |   |    |   |   |           |   |   |    |   |   |   |        |   |   |   |   |   |
| payroll taxes due on shares      issued                                                                                                                                                                                                                                                                                                                                        |   |         |        |   |    |   |   |           |   |   |    |   |   |   |        |   |   |   |   |   |
| under employee stock      plans                                                                                                |   |         | (355,740    | )      |    |   | (36    | )              |   |   | (1,420  | )      |   |   |        |   |   |   |   |   |
| Tax      benefit – call      options                                                       |   |         |        |   |    |   |   |           |   |   | 0       |   |   |   |        |   |   |   |   |   |
| Stock-based      compensation      expense                                                       |   |         |        |   |    |   |   |           |   |   | 5,576   |   |   |   |        |   |   |   |   |   |
| Write-down      of deferred taxes –                                                                                                                                                                                                                                                                                                                                      |   |         |        |   |    |   |   |           |   |   |    |   |   |   |        |   |   |   |   |   |
| employee stock      programs                                                                                                   |   |         |        |   |    |   |   |           |   |   | (1,427  | )      |   |   |        |   |   |   |   |   |
| Purchases      of treasury      stock                                                            |   |         |        |   |    |   |   |           |   |   |    |   |   |   | (2,004,967  | ) |   |   | (10,969 | ) |
| Balance,      January 31,      2009                                                              |   |         | 153,482,368 |   |    | $      | 15,348 |           |   | $      | 411,623 |   |   |   | (38,482,213 | ) |   | $ | (347,730 | ) |
|                                                                                                                                                                                                                                                                                                                                                                           |   |         |        |   |    |   |   |           |   |   |    |   |   |   |        |   |   |   |   |   |

|                                                                                                                                                                                                                                                                                                                                                                    |   | Accumulated   |   |   |     |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|--------|--------|----------|--------|
|                                                                                                                                                                                                                                                                                                                                                                    |   | Other         |   |   |     |   |
|                                                                                                                                                                                                                                                                                                                                                                    |   | Comprehensive |   |   | Retained |   |
|                                                                                                                                                                                                                                                                                                                                                                    |   | Income        |   |   | Earnings |   |
|                                                                                                                                                                                                                                                                                                                                                                    |   |          |   |   |     |   |
| Balance,      January 28,      2006                                                       |   | $             | (3     | )      |     | $      | 624,015 |   |
| Unrealized      gains, net of income taxes of $(3)                                                                                                                                                                                                                                                                                                                      |   |          | 4      |   |     |   |   |   |
| Net      income                                                                           |   |          |   |   |     |   | 108,923 |   |
| Balance,      February 3,      2007                                                       |   |          | 1      |   |     |   | 732,938 |   |
| Cumulative      effect of adoption of FIN No. 48                                                                                                                                                                                                                                                                                                                        |   |          |   |   |     |   | (4,998 | ) |
| Unrealized      gains, net of income taxes of $(14)                                                                                                                                                                                                                                                                                                                     |   |          | 21     |   |     |   |   |   |
| Net      loss                                                                             |   |          |   |   |     |   | (83,413 | ) |
| Balance,      February 2,      2008                                                       |   |          | 22     |   |     |   | 644,527 |   |
| Cumulative      effect of adoption of                                                                                                                                                                                                                                                                                                                                   |   |          |   |   |     |   |   |   |
| EITF Issue      06-4                                                                                                    |   |          |   |   |     |   | (13,696 | ) |
| Unrealized      losses, net of income taxes of $10                                                                                                                                                                                                                                                                                                                      |   |          | (17    | )      |     |   |   |   |
| Net      loss                                                                             |   |          |   |   |     |   | (244,211 | ) |
| Balance,      January 31,      2009                                                       |   | $             | 5      |   |     | $      | 386,620 |   |
|                                                                                                                                                                                                                                                                                                                                                                    |   |          |   |   |     |   |   |   |
| See      Notes to Consolidated Financial Statements.                                                                                                                                                                                                                                                                                                                    |   |

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CHARMING SHOPPES, INC. AND SUBSIDIARIES

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | Year      Ended  |     |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | January      31, |     |   | February      2, |   |   | February      3, |   |
| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 2009             |     |   | 2008 |   |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |             |     |   |   |   |   |   |   |
| Operating      activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |             |     |   |   |   |   |   |   |
| Net      income/(loss)                                                                                                                                              |   | $                | (244,211 | ) |   | $ | (83,413 | ) |   | $ | 108,923 |   |
| Adjustments      to reconcile net income/(loss) to net cash provided by operating      activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |             |     |   |   |   |   |   |   |   |   |   |
| Depreciation and      amortization                                                                                                                                                           |   |             | 95,219   |   |   |   | 97,249 |   |   |   | 91,244 |   |
| Loss on disposition of      discontinued operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |             | 46,736   |   |   |   | 0 |   |   |   | 0 |   |
| Impairment of store assets,      goodwill, and      trademarks                                                                                                                               |   |             | 81,498   |   |   |   | 98,219 |   |   |   | 0 |   |
| Deferred income      taxes                                                                                                                                                                   |   |             | 13,719   |   |   |   | (4,933 | ) |   |   | 20,719 |   |
| Stock-based      compensation                                                                                                                                                                |   |             | 5,576    |   |   |   | 7,101 |   |   |   | 10,386 |   |
| Excess tax benefits related to      stock-based      compensation                                                                                                                            |   |             | 0        |   |   |   | (613 | ) |   |   | (5,119 | ) |
| Write-down of deferred taxes      related to stock-based compensation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |             | (1,427   | ) |   |   | 0 |   |   |   | 0 |   |
| Write-down of capital      assets                                                                                                                                                            |   |             | 6,105    |   |   |   | 11,325 |   |   |   | 0 |   |
| Net (gain)/loss from      disposition of capital      assets                                                                                                                                 |   |             | (559     | ) |   |   | 2,147 |   |   |   | 1,618 |   |
| Net loss/(gain) from      securitization      activities                                                                                                                                     |   |             | 3,969    |   |   |   | (6,445 | ) |   |   | (1,012 | ) |
| Extraordinary item, net of      income      taxes                                                                                                                                            |   |             | 0        |   |   |   | (912 | ) |   |   | 0 |   |
| Changes in operating assets and      liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |             |     |   |   |   |   |   |   |   |   |   |
| Accounts receivable,      net                                                                                                                                                                                              |   |             | 235      |   |   |   | (169 | ) |   |   | 5,237 |   |
| Merchandise      inventories                                                                                                                                                                                               |   |             | 72,530   |   |   |   | 37,906 |   |   |   | (53,024 | ) |
| Accounts      payable                                                                                                                                                                                                      |   |             | (34,733  | ) |   |   | (38,076 | ) |   |   | 45,393 |   |
| Prepayments and      other                                                                                                                                                                                                 |   |             | 13,655   |   |   |   | (514 | ) |   |   | (55,506 | ) |
| Income taxes      payable                                                                                                                                                                                                  |   |             | 0        |   |   |   | 0 |   |   |   | 3,376 |   |
| Accrued expenses and      other                                                                                                                                                                                            |   |             | (21,201  | ) |   |   | 40,973 |   |   |   | 14,719 |   |
| Proceeds      from sale of Crosstown Traders credit card receivables      portfolio                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |             | 12,455   |   |   |   | 0 |   |   |   | 0 |   |
| Purchase      of Lane Bryant credit card receivables      portfolio                                                                                                 |   |             | 0        |   |   |   | (230,975 | ) |   |   | 0 |   |
| Securitization      of Lane Bryant credit card receivables      portfolio                                                                                           |   |             | 0        |   |   |   | 230,975 |   |   |   | 0 |   |
| Net      cash provided by operating      activities                                                                                                                 |   |             | 49,566   |   |   |   | 159,845 |   |   |   | 186,954 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |             |     |   |   |   |   |   |   |   |   |   |
| Investing      activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |             |     |   |   |   |   |   |   |   |   |   |
| Investment      in capital      assets                                                                                                                              |   |             | (55,800  | ) |   |   | (137,709 | ) |   |   | (133,156 | ) |
| Proceeds      from sales of capital      assets                                                                                                                     |   |             | 4,813    |   |   |   | 0 |   |   |   | 0 |   |
| Gross      purchases of      securities                                                                                                                             |   |             | (3,143   | ) |   |   | (84,665 | ) |   |   | (37,022 | ) |
| Proceeds      from sales of      securities                                                                                                                         |   |             | 10,367   |   |   |   | 22,335 |   |   |   | 62,185 |   |
| Net      proceeds from sale of discontinued      operations                                                                                                         |   |             | 34,440   |   |   |   | 0 |   |   |   | 0 |   |
| Proceeds      from eminent domain settlement, net of      taxes                                                                                                     |   |             | 0        |   |   |   | 912 |   |   |   | 0 |   |
| (Increase)/decrease      in other      assets                                                                                                                       |   |             | 11,099   |   |   |   | (11,502 | ) |   |   | (14,399 | ) |
| Net      cash provided/(used) by investing      activities                                                                                                          |   |             | 1,776    |   |   |   | (210,629 | ) |   |   | (122,392 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |             |     |   |   |   |   |   |   |   |   |   |
| Financing      activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |             |     |   |   |   |   |   |   |   |   |   |
| Repayments      of short-term      borrowings                                                                                                                       |   |             | 0        |   |   |   | 0 |   |   |   | (50,000 | ) |
| Proceeds      from issuance of senior convertible      notes                                                                                                        |   |             | 0        |   |   |   | 275,000 |   |   |   | 0 |   |
| Proceeds      from long-term      borrowings                                                                                                                        |   |             | 108      |   |   |   | 1,316 |   |   |   | 0 |   |
| Repayments      of long-term      borrowings                                                                                                                        |   |             | (8,682   | ) |   |   | (11,814 | ) |   |   | (14,733 | ) |
| Payments      of deferred financing      costs                                                                                                                      |   |             | (48      | ) |   |   | (7,640 | ) |   |   | 0 |   |
| Excess      tax benefits related to stock-based      compensation                                                                                                   |   |             | 0        |   |   |   | 613 |   |   |   | 5,119 |   |
| Purchase      of hedge on senior convertible      notes                                                                                                             |   |             | 0        |   |   |   | (90,475 | ) |   |   | 0 |   |
| Sale      of common stock      warrants                                                                                                                             |   |             | 0        |   |   |   | 53,955 |   |   |   | 0 |   |
| Purchases      of treasury      stock                                                                                                                               |   |             | (10,969  | ) |   |   | (252,625 | ) |   |   |   |   |
| Net      proceeds from shares issued under employee stock      plans                                                                                                |   |             | 166      |   |   |   | 458 |   |   |   | 8,758 |   |
| Net      cash used by financing      activities                                                                                                                     |   |             | (19,425  | ) |   |   | (31,212 | ) |   |   | (50,856 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |             |     |   |   |   |   |   |   |   |   |   |
| Increase/(decrease)      in cash and cash      equivalents                                                                                                          |   |             | 31,917   |   |   |   | (81,996 | ) |   |   | 13,706 |   |
| Cash      and cash equivalents, beginning of      year                                                                                                              |   |             | 61,842   |   |   |   | 143,838 |   |   |   | 130,132 |   |
| Cash      and cash equivalents, end of      year                                                                                                                    |   | $                | 93,759   |   |   | $ | 61,842 |   |   | $ | 143,838 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |             |     |   |   |   |   |   |   |   |   |   |
| Certain      prior-year amounts have been reclassified to conform to the current-year      presentation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
| (Continued      on next page)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | Year      Ended  |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | January      31, |   |   | February      2, |   |   | February      3, |   |
| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 2009             |   |   | 2008 |   |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |             |   |   |   |   |   |   |   |
| Non-cash      financing and investing activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |             |   |   |   |   |   |   |   |
| Common      stock issued on conversion of      debentures                                                                                           |   | $                | 0      |   |   | $ | 149,564 |   |   | $ | 0 |   |
| Assets      acquired through capital      leases                                                                                                    |   | $                | 5,959  |   |   | $ | 8,047 |   |   | $ | 0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |             |   |   |   |   |   |   |   |   |   |   |
| See      Notes to Consolidated Financial Statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |

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|                                                                                                                                                                                                                                                                                                                                            |   | Year      Ended  |          |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|---------------|
|                                                                                                                                                                                                                                                                                                                                            |   | January      31, |          |   | February      2, |   |   | February      3, |   |
| (In      thousands)                                                                                                                                                                                                                                                                                                                             |   | 2009(1)          |          |   | 2008 |   |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                                                            |   |             |          |   |   |   |   |   |   |
| Net      sales                                                                                                                                                                                                                                                                                                                                  |   | $                | 155,811       |   |   | $ | 287,491 |   |   | $ | 315,672 |   |
|                                                                                                                                                                                                                                                                                                                                            |   |             |          |   |   |   |   |   |   |   |   |   |
| Income/(loss)      from discontinued operations                                                                                                                                                                                                                                                                                                 |   | $                | (74,922       | )(2) |   | $ | (95,280 | )(4) |   | $ | 10,325 |   |
| Income      tax (benefit)/provision                                                                                                                                                                                                                                                                                                             |   |             |   0 | (3) |   |   |  (10,241 | ) |   |   | 3,361 |   |
| Income/(loss)      from discontinued operations,                                                                                                                                                                                                                                                                                                |   |             |          |   |   |   |   |   |   |   |   |   |
| net of income tax      benefit                                                                                                                                                                                                                                                                                                                  |   | $                | (74,922       | ) |   | $ | (85,039 | ) |   | $ | 6,964 |   |
| ____________________                                                                                                                                                                                                                                                                                                                            |   |
|                                                                                                                                                                                                                                                                                                                                            |   |
| (1)          Through September 18, 2008 (the date of sale).                                                                                                                                                                                                                                                                 |   |
|                                                                                                                                                                                                                                                                                                                                            |   |
| (2)          Includes $28,186,000 of losses from operations and a $46,736,000 loss on      disposition.                                                                                                                                                                                                                     |   |
|                                                                                                                                                                                                                                                                                                                                            |   |
| (3)          During Fiscal 2009 we established a valuation allowance against our      deferred tax assets (see “NOTE 7. INCOME      TAXES” below). As a result of the valuation allowance we did      not recognize an income tax benefit for the Fiscal 2009 loss from      discontinued operations. |   |
|                                                                                                                                                                                                                                                                                                                                            |   |
| (4)          Includes impairment of goodwill and trademarks of $80,047 and losses from      operations of $15,233.                                                                                                                                                                                                          |   |

|                                                |   | September      18, |               |   | February      2, |   |
|-----------------------------------------------------|--------|--------------------|--------------------|--------|------------------|--------|
| (In      thousands)                                 |   | 2008               |               |   | 2008             |   |
|                                                |   |               |               |   |             |   |
| Current      assets:                                |   |               |               |   |             |   |
| Merchandise      inventories                        |   | $                  | 50,855             |   |             | $      | 61,303 |   |
| Deferred      advertising and other, net            |   |               | 13,594             |   |             |   | 14,995 |   |
| Intangible      assets                              |   |               | 44,758             |   |             |   | 45,397 |   |
| Current      assets of discontinued operations      |   | $                  | 109,207            |   |             | $      | 121,695 |   |
|                                                |   |               |               |   |             |   |   |   |
| Current      liabilities:                           |   |               |               |   |             |   |   |   |
| Accounts      payable                               |   | $                  | 6,300              |   |             | $      | 10,492 |   |
| Accrued      expenses                               |   |               | 13,111             |   |             |   | 17,981 |   |
| Deferred      taxes                                 |   |               |   18,820 |   |             |   | 17,458 |   |
| Current      liabilities of discontinued operations |   | $                  |  38,231       |   |             | $      | 45,931 |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   |   |   | Estimated  |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|------------|--------|
| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | Cost   |   |   | Fair Value |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   |   |   |       |   |
| January      31, 2009                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |       |   |
| U.S.      Treasury      Bills                                                                                                  |   | $      | 5,990  |   |       | $      | 5,998 |   |
| Other                                                                                                                          |   |   | 400    |   |       |   | 400 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | $      | 6,390  |   |       | $      | 6,398 |   |
| February      2, 2008                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   |   |   |       |   |   |   |
| U.S.      Treasury      Bills                                                                                                  |   | $      | 12,929 |   |       | $      | 12,964 |   |
| Other                                                                                                                          |   |   | 400    |   |       |   | 400 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | $      | 13,329 |   |       | $      | 13,364 |   |

| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 2009   |   |   | 2008   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |   |   |   |   |
| Due      from      customers                                                                                                                      |   | $      | 39,318 |   |   | $      | 39,797 |   |
| Allowance      for doubtful      accounts                                                                                                         |   |   | (6,018 | )      |   |   | (6,262 | ) |
| Net      accounts      receivable                                                                                                                 |   | $      | 33,300 |   |   | $      | 33,535 |   |

|                                                |   | Year      Ended  |   |
|-----------------------------------------------------|--------|------------------|--------|
|                                                |   | January      31, |   |   | February      2, |   |   | February      3, |   |
|                                                |   | 2009             |   |   | 2008 |   |   | 2007 |   |
|                                                |   |             |   |   |   |   |   |   |   |
| Beginning      balance                              |   | $                | (6,262 | ) |   | $ | (5,083 | ) |   | $ | (6,588 | ) |
| Provision      for doubtful accounts                |   |             | (6,145 | ) |   |   | (6,327 | ) |   |   | (4,924 | ) |
| Collections      of accounts previously written off |   |             | (833   | ) |   |   | (994 | ) |   |   | (1,274 | ) |
| Accounts      written off                           |   |             | 7,222  |   |   |   | 6,142 |   |   |   | 7,703 |   |
| Ending      balance                                 |   | $                | (6,018 | ) |   | $ | (6,262 | ) |   | $ | (5,083 | ) |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | Lives         |         |   |   |    |      |   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|--------------|--------|--------|---------|-----------|--------|--------|
| (Dollars      in thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | (Years)       |         |   | 2009   |    |      | 2008   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |          |         |   |   |    |      |   |   |
| Land                                                                                                                              |   |          |         |   | $      | 5,829   |      |   | $      | 5,829 |   |
| Buildings      and      improvements                                                                                              |   | 10      to 40 |         |   |   | 72,532  |      |   |   | 79,805 |   |
| Store      fixtures                                                                                                               |   | 5      to 10  |         |   |   | 160,881 |      |   |   | 185,934 |   |
| Equipment                                                                                                                         |   | 3      to 10  |         |   |   | 288,387 |      |   |   | 276,381 |   |
| Equipment      acquired under capital      leases                                                                                 |   |          | 7            |   |   |    | 60,928    |   |   |   | 57,215 |   |
| Leasehold      improvements                                                                                                       |   |          |   10(1) |   |   |    | 488,160   |   |   |   | 500,324 |   |
| Construction      in      progress                                                                                                |   |          | –      |   |   |    | 255       |   |   |   | 12,071 |   |
| Total      at      cost                                                                                                           |   |          |         |   |   |    | 1,076,972 |   |   |   | 1,117,559 |   |
| Less:Accumulated      depreciation and amortization                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |          |         |   |   |    | 654,421   |   |   |   | 622,832 |   |
| Accumulated amortization of      capital lease assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |          |         |   |   |    | 39,375    |   |   |   | 35,578 |   |
| Total      accumulated depreciation and amortization                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |          |         |   |   |    | 693,796   |   |   |   | 658,410 |   |
| Net      property, equipment, and leasehold improvements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |          |         |   |   | $       | 383,176   |   |   | $ | 459,149 |   |
| ____________________                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |          |         |   |   |    |      |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| (1)          Or the life of the lease, if shorter.                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | Life    |   |   |   |    |    |   |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------|--------|--------|--------|---------|---------|--------|--------|
| (Dollars      in thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | (Years) |   |   | 2009   |    |    | 2008   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |    |   |   |   |    |    |   |   |
| Trademarks,      tradenames, and Internet domain names                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |    |   |   | $      | 187,132 |    |   | $      | 188,608 |   |
| Customer      relationships                                                                                                          |   |    | 4      |   |   |    | 2,872   |   |   |   | 2,872 |   |
| Total      at      cost                                                                                                              |   |    |   |   |   |    | 190,004 |   |   |   | 191,480 |   |
| Less      accumulated amortization of customer relationships                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |    |   |   |   |    | 2,639   |   |   |   | 1,918 |   |
| Net      trademarks and other intangible      assets                                                                                 |   |    |   |   |   | $       | 187,365 |   |   | $ | 189,562 |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | January      31, |   |   | February      2, |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|--------|--------|------------------|--------|
| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | 2009             |   |   | 2008             |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |             |   |   |             |   |
| Retail      Stores:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |             |   |   |             |   |
| LANE      BRYANT                                                                                                    |   | $                | 23,436 |   |             | $      | 23,436 |   |
| CATHERINES                                                                                                          |   |             | 0      |   |             |   | 43,230 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | $                | 23,436 |   |             | $      | 66,666 |   |

| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 2009   |     |   | 2008   |   |   | 2007   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|----------|--------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |     |   |   |   |   |   |   |
| Domestic                                                                           |   | $      | (194,426 | )      |   | $      | (667   | )      |   | $ | 143,700 |   |
| Foreign                                                                            |   |   | 11,252   |   |   |   | 15,239 |   |   |   | 12,098 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | $      | (183,174 | )      |   | $      | 14,572 |   |   | $ | 155,798 |   |

| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | 2009   |    |   | 2008   |   |   | 2007   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   |    |   |   |   |   |   |   |
| Current:                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |    |   |   |   |   |   |   |
| Federal                                                                           |   | $      | (33,800 | )      |   | $      | 2,538  |   |   | $ | 34,603 |   |
| State                                                                             |   |   | 3,277   |   |   |   | 4,979  |   |   |   | 4,899 |   |
| Foreign                                                                           |   |   | 1,426   |   |   |   | 2,092  |   |   |   | 1,649 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | (29,097 | )      |   |   | 9,609  |   |   |   | 41,151 |   |
| Deferred:                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |    |   |   |   |   |   |   |   |   |   |
| Federal                                                                           |   |   | 16,052  |   |   |   | 3,546  |   |   |   | 13,012 |   |
| State                                                                             |   |   | (840    | )      |   |   | 703    |   |   |   | (324 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | 15,212  |   |   |   | 4,249  |   |   |   | 12,688 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | $      | (13,885 | )      |   | $      | 13,858 |   |   | $ | 53,839 |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 2009                  | 2008(1) | 2007        |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------|---------|-------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                  |    |        |
| Statutory      Federal income tax      rate                                                                                     | (35.0)%               | 35.0%   | 35.0%       |
| State      income tax, net of Federal income      tax                                                                           | 0.0                   | 34.5    | 2.9         |
| Foreign      income                                                                                                             | (1.4)                 | (22.2)  | (1.6)       |
| Employee      benefits                                                                                                          | (0.7)                 | (7.1)   | (0.4)       |
| Impairment      of      goodwill                                                                                                | 8.3                   | 43.6    | 0.0         |
| Charitable      contributions                                                                                                   | (0.1)                 | (1.1)   | (0.1)       |
| Valuation      allowance                                                                                                        | 21.0                  | 0.0     | 0.0         |
| Other,      net                                                                                                                 |    0.3 | 12.4    |  (1.2) |
| Effective      tax      rate                                                                                                    |   (7.6)%    | 95.1%   | 34.6%       |
| ____________________                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                  |    |        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| (1)          Percentages are based on a low pre-tax income from continuing operations      and are not necessarily comparable to other fiscal  years.                                                                                                                                                                                                                                                                                                                                         |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | January      31, |    |   | February      2, |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|---------|--------|------------------|--------|
| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 2009             |    |   | 2008             |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |             |    |   |             |   |
| Deferred      tax assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |             |    |   |             |   |
| Tax      credit and net operating loss      carryforwards                                                                                         |   | $                | 42,245  |   |             | $      | 14,399 |   |
| Prepaid      and accrued      expenses                                                                                                            |   |             | 7,924   |   |             |   | 0 |   |
| Inventory                                                                                                                                         |   |             | 2,954   |   |             |   | 831 |   |
| Deferred      compensation                                                                                                                        |   |             | 12,233  |   |             |   | 18,026 |   |
| Property,      equipment, and leasehold      improvements                                                                                         |   |             | 7,115   |   |             |   | 0 |   |
| Accrued      restructuring      expense                                                                                                           |   |             | 5,368   |   |             |   | 0 |   |
| Deferred      rent                                                                                                                                |   |             | 0       |   |             |   | 6,752 |   |
| Other                                                                                                                                             |   |             | 13,570  |   |             |   | 12,102 |   |
| Total deferred tax      assets                                                                                                                                                  |   |             | 91,409  |   |             |   | 52,110 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |             |    |   |             |   |   |   |
| Deferred      tax liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |             |    |   |             |   |   |   |
| Property,      equipment, and leasehold      improvements                                                                                         |   |             | 0       |   |             |   | (14,166 | ) |
| Accounts      receivable                                                                                                                          |   |             | (3,583  | )      |             |   | (6,098 | ) |
| Prepaid      and accrued      expenses                                                                                                            |   |             | 0       |   |             |   | (3,337 | ) |
| Goodwill      and intangible      assets                                                                                                          |   |             | (43,026 | )      |             |   | (39,329 | ) |
| Deferred      rent                                                                                                                                |   |             | (4,255  | )      |             |   | 0 |   |
| Credit      card late      fees                                                                                                                   |   |             | (22,070 | )      |             |   | (17,436 | ) |
| Total deferred tax      liabilities                                                                                                                                             |   |             | (72,934 | )      |             |   | (80,366 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |             |    |   |             |   |   |   |
| Valuation      allowance                                                                                                                          |   |             | (61,233 | )      |             |   | 0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |             |    |   |             |   |   |   |
| Net      deferred tax      liability                                                                                                              |   | $                | (42,758 | )      |             | $      | (28,256 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |             |    |   |             |   |   |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | Year      Ended  |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | January      31, |   |   | February      2, |   |
| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | 2009             |   |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |             |   |   |   |   |
| Gross      unrecognized tax benefits, beginning of      year                                                                                                         |   | $                | 26,004 |   |   | $ | 22,474 |   |
| Additions      for tax positions related to prior      years                                                                                                         |   |             | 3,861  |   |   |   | 3,610 |   |
| Additions      for tax positions related to current      year                                                                                                        |   |             | 1,040  |   |   |   | 492 |   |
| Reductions      resulting from lapse of applicable statute of limitations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |             | (1,403 | ) |   |   | (545 | ) |
| Settlements                                                                                                                                                          |   |             | (323   | ) |   |   | (27 | ) |
| Gross      unrecognized tax benefits, end of      year                                                                                                               |   | $                | 29,179 |   |   | $ | 26,004 |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | Year      Ended  |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | January      31, |   |   | February      2, |   |
| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | 2009             |   |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |             |   |   |   |   |
| Accrued      interest and penalties, beginning of      year                                                                                                         |   | $                | 12,575 |   |   | $ | 9,488 |   |
| Interest      and penalties recognized during      year                                                                                                             |   |             | 156    |   |   |   | 3,087 |   |
| Accrued      interest and penalties, end of      year                                                                                                               |   | $                | 12,731 |   |   | $ | 12,575 |   |

| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 2009   |    |   | 2008   |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |    |   |   |   |
| 1.125%      Senior Convertible Notes due May      2014                                                                                                         |   | $      | 275,000 |   |   | $      | 275,000 |   |
| Capital      lease      obligations                                                                                                                            |   |   | 14,041  |   |   |   | 13,698 |   |
| 6.07%      mortgage note, due October      2014                                                                                                                |   |   | 10,419  |   |   |   | 11,078 |   |
| 6.53%      mortgage note, due November      2012                                                                                                               |   |   | 5,250   |   |   |   | 6,650 |   |
| 7.77%      mortgage note due December      2011                                                                                                                |   |   | 7,249   |   |   |   | 7,897 |   |
| Other      long-term      debt                                                                                                                                 |   |   | 422     |   |   |   | 673 |   |
| Total      long-term      debt                                                                                                                                 |   |   | 312,381 |   |   |   | 314,996 |   |
| Less      current      portion                                                                                                                                 |   |   | 6,746   |   |   |   | 8,827 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | $      | 305,635 |   |   | $      | 306,169 |   |

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| (In      thousands)            |   | 2010   |   |   | 2011   |   |   | 2012   |   |   | 2013   |   |   | 2014   |   |
|--------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Capital      lease obligations |   | $      | 3,687  |   |   | $      | 3,462  |   |   | $      | 3,569  |   |   | $      | 2,206  |   |   | $ | 1,118 |   |
| Mortgage      notes            |   |   | 2,801  |   |   |   | 2,901  |   |   |   | 7,984  |   |   |   | 1,893  |   |   |   | 896 |   |
| Other      long-term debt      |   |   | 258    |   |   |   | 120    |   |   |   | 15     |   |   |   | 16     |   |   |   | 275,013 |   |
|                           |   | $      | 6,746  |   |   | $      | 6,483  |   |   | $      | 11,568 |   |   | $      | 4,115  |   |   | $ | 277,027 |   |

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|   | · | 1,000,000      shares of Series Participating Preferred Stock, $1.00 par value, of which      500,000 shares of Participating Series A Junior Preferred Stock, $1.00 par      value, have been authorized; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | 300,000,000      shares of common stock, $.10 parvalue. |
|--------|--------|---------------------------------------------------------|

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | 2009   |      |   | 2008   |   |      | 2007   |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|-----------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |      |   |   |   |      |   |   |
| Restricted      stock awards/RSUs      granted                                                                         |   |   | 824,879   |   |   |   | 1,035,422 |   |   |   | 926,346 |   |
| Weighted      average market price at date of grant                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | $5.05     |   |   |   | $11.98    |   |   |   | $13.21 |   |
| Stock      awards/RSUs vested with issuance deferred                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   | 0         |   |   |   | 240,979   |   |   |   | 305,250 |   |
| Shares      issued under stock awards/RSUs                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   | 601,005   |   |   |   | 64,196    |   |   |   | 17,312 |   |
| Cancellations      of stock      awards/RSUs                                                                           |   |   | 938,333   |   |   |   | 720,795   |   |   |   | 11,131 |   |
| Restricted      awards/RSUs outstanding at year-end                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | 1,086,192 |   |   |   | 1,800,651 |   |   |   | 1,791,199 |   |
| SARs      exercisable at      year-end                                                                                 |   |   | 231,660   |   |   |   | –   |   |   |   | – |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | 2009   |    |   | 2008   |   |    | 2007   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |    |   |   |   |    |   |   |
| One-time      restricted stock awards granted                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | 0       |   |   |   | 0       |   |   |   | 10,000 |   |
| Weighted      average market price at date of grant                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   | – |   |   |   | – |   |   |   | $13.84 |   |
| RSUs      granted                                                                                                    |   |   | 33,000  |   |   |   | 80,703  |   |   |   | 61,233 |   |
| Weighted      average market price at date of grant                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   | $4.58   |   |   |   | $11.71  |   |   |   | $11.33 |   |
| Shares      issued under stock awards/RSUs                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   | 58,920  |   |   |   | 24,999  |   |   |   | 8,482 |   |
| RSUs      vested with issuance      deferred                                                                         |   |   | 46,116  |   |   |   | 42,536  |   |   |   | 37,500 |   |
| Cancellations      of restricted stock awards/RSUs                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   | 0       |   |   |   | 9,131   |   |   |   | 0 |   |
| Restricted      awards/RSUs outstanding at year-end                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   | 15,334  |   |   |   | 87,370  |   |   |   | 83,333 |   |
| Options      exercisable at      year-end                                                                            |   |   | 331,158 |   |   |   | 341,587 |   |   |   | 283,140 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 2009   |    |   | 2008   |   |    | 2007   |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |    |   |   |   |    |   |   |
| Shares      issued under stock      awards                                                                         |   |   | 123,630 |   |   |   | 158,420 |   |   |   | 57,815 |   |
| Cancellations      of restricted stock awards                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   | 15,900  |   |   |   | 17,990  |   |   |   | 91,950 |   |
| Restricted      awards outstanding at year-end                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | 58,560  |   |   |   | 198,090 |   |   |   | 374,500 |   |
| Options      exercisable at      year-end                                                                          |   |   | 528,720 |   |   |   | 659,759 |   |   |   | 750,857 |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 2009   |    |   | 2008   |   |    | 2007   |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |    |   |   |   |    |   |   |
| Shares      issued under stock      awards                                                                         |   |   | 200,850 |   |   |   | 160,060 |   |   |   | 160,960 |   |
| Stock      awards vested with issuance deferred                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | 0       |   |   |   | 0       |   |   |   | 0 |   |
| Cancellations      of restricted stock awards                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   | 2,000   |   |   |   | 0       |   |   |   | 0 |   |
| Restricted      awards outstanding at year-end                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | 73,440  |   |   |   | 276,290 |   |   |   | 436,350 |   |
| Options      exercisable at      year-end                                                                          |   |   | 498,640 |   |   |   | 724,640 |   |   |   | 932,540 |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |       |   | Average |   |   |               |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|---------|--------|--------|--------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | Option |       |   | Option  |   |   | Option      Prices |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | Shares |       |   | Price   |   |   | Per Share          |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |       |   |    |   |   |               |   |
| Outstanding      at January 28,      2006                                                                         |   |   | 3,672,108  |   |    | $      | 5.819  |               |   | $ | 1.00 |   |   |   | – |   |   | $ | 12.48 |   |
| Granted – option price equal to      market price                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   | 61,233     |   |    |   | 11.332 |               |   |   | 11.28 |   |   |   | – |   |   |   | 13.84 |   |
| Granted – option price less than      market price                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | 31,600     |   |    |   | 1.000  |               |   |   | 1.00 |   |   |   | – |   |   |   | 1.00 |   |
| Canceled/forfeited                                                                                                |   |   | (10,571    | )      |    |   | 1.502  |               |   |   | 1.00 |   |   |   | – |   |   |   | 6.65 |   |
| Exercised                                                                                                         |   |   | (1,536,580 | )      |    |   | 5.965  |               |   |   | 1.00 |   |   |   | – |   |   |   | 9.10 |   |
| Outstanding      at February 3,      2007                                                                         |   |   | 2,217,790  |   |    |   | 5.822  |               |   |   | 1.00 |   |   |   | – |   |   |   | 13.84 |   |
| Granted – option price less than      market price                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | 18,000     |   |    |   | 1.000  |               |   |   | 1.00 |   |   |   | – |   |   |   | 1.00 |   |
| Canceled/forfeited                                                                                                |   |   | (36,796    | )      |    |   | 5.724  |               |   |   | 1.00 |   |   |   | – |   |   |   | 11.28 |   |
| Exercised                                                                                                         |   |   | (304,120   | )      |    |   | 4.741  |               |   |   | 1.00 |   |   |   | – |   |   |   | 8.46 |   |
| Outstanding      at February 2,      2008                                                                         |   |   | 1,894,874  |   |    |   | 5.952  |               |   |   | 1.00 |   |   |   | – |   |   |   | 13.84 |   |
| Granted – option price equal to      market price                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   | 3,475,674  |   |    |   | 4.569  |               |   |   | 1.13 |   |   |   | – |   |   |   | 5.64 |   |
| Granted – option price less than      market price                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | 14,000     |   |    |   | 1.000  |               |   |   | 1.00 |   |   |   | – |   |   |   | 1.00 |   |
| Canceled/forfeited                                                                                                |   |   | (1,857,665 | )      |    |   | 5.097  |               |   |   | 1.00 |   |   |   | – |   |   |   | 12.48 |   |
| Exercised                                                                                                         |   |   | (234,498   | )      |    |   | 4.016  |               |   |   | 1.00 |   |   |   | – |   |   |   | 5.47 |   |
| Outstanding      at January 31,      2009                                                                         |   |   | 3,292,385  |   |    | $      | 5.091  |               |   | $ | 1.00 |   |   |   | – |   |   | $ | 13.84 |   |

|                                                                                                                                                                                                                                                                                                                           |   |   |      |   |     |   |   | Weighted  |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------|--------|----------|--------|--------|-----------|--------|
|                                                                                                                                                                                                                                                                                                                           |   |   |      |   | Weighted |   |   | Average   |   |
|                                                                                                                                                                                                                                                                                                                           |   |   |      |   | Average  |   |   | Remaining |   |
|                                                                                                                                                                                                                                                                                                                           |   | Option |      |   | Option   |   |   | Life      |   |
| Ranges of Option Prices                                                                                                                                                                                                                                                                                                        |   | Shares |      |   | Price    |   |   | (Years)   |   |
|                                                                                                                                                                                                                                                                                                                           |   |   |      |   |     |   |   |      |   |
| $0.00 – $1.00:                                                                                                                                                                                                                                                                                                      |   |   |      |   |     |   |   |      |   |
| Options      outstanding                                                  |   |   | 65,545    |   |     | $      | 1.000  |      |   |   | 2.2 |   |
| Options      exercisable                                                  |   |   | 20,984    |   |     |   | 1.000  |      |   |   |   |   |
| $1.01 – $5.00:                                                                                                                                                                                                                                                                                                      |   |   |      |   |     |   |   |      |   |   |   |   |
| Options      outstanding                                                  |   |   | 1,819,572 |   |     | $      | 4.022  |      |   |   | 5.7 |   |
| Options      exercisable                                                  |   |   | 436,160   |   |     |   | 4.434  |      |   |   |   |   |
| $5.01 –$10.00:                                                                                                                                                                                                                                                                                                      |   |   |      |   |     |   |   |      |   |   |   |   |
| Options      outstanding                                                  |   |   | 1,353,535 |   |     | $      | 6.479  |      |   |   | 2.6 |   |
| Options      exercisable                                                  |   |   | 1,163,185 |   |     |   | 6.690  |      |   |   |   |   |
| $10.01 –$13.84:                                                                                                                                                                                                                                                                                                     |   |   |      |   |     |   |   |      |   |   |   |   |
| Options      outstanding                                                  |   |   | 53,733    |   |     | $      | 11.339 |      |   |   | 7.4 |   |
| Options      exercisable                                                  |   |   | 53,733    |   |     |   | 11.339 |      |   |   |   |   |

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| (In      thousands)                                                                                             |   | 2009   |   |   | 2008   |   |
|-----------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
|                                                                                                            |   |   |   |   |   |   |
| Aggregate      intrinsic value of options/SARs outstanding at year-end(1)                                       |   | $      | 0      |   |   | $      | 1,777 |   |
| Aggregate      intrinsic value of options/SARs exercisable at year-end(1)                                       |   |   | 0      |   |   |   | 1,422 |   |
| Aggregate      market value of unvested stock awards at year-end                                                |   |   | 1,341  |   |   |   | 16,711 |   |
|                                                                                                            |   |   |   |   |   |   |   |   |
| Aggregate      intrinsic value of options/SARs exercised during the year(2)                                     |   |   | 358    |   |   |   | 1,014 |   |
| Aggregate      market value of stock awards vested during the year                                              |   |   | 5,140  |   |   |   | 6,755 |   |
| ____________________                                                                                            |   |   |   |   |   |   |   |   |
|                                                                                                            |   |
| (1)          Aggregate market value at year-end less aggregate exercise      price.         |   |
|                                                                                                            |   |
| (2)          Aggregate market value on date of exercise less aggregate exercise      price. |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 2009   |   |   | 2008   |   |    | 2007   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|---------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   |   |   |   |   |    |   |   |
| Exercise      price equal to market      price                                                                                     |   | $      | 2.39   |   |   | $      | – |   |   | $ | 5.41 |   |
| Exercise      price less than market      price                                                                                    |   |   | 4.86   |   |   |   | 11.95   |   |   |   | 13.06 |   |

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|                                                                                                                                                                                                                                                                                                                                                                                    |   |             |   |   |                 |   |   |       |   |   | Total            |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|--------|--------|----------------------|--------|--------|------------|--------|--------|------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                    |   | Costs            |   |   | Costs      Incurred  |   |   | Estimated  |   |   | Estimated/       |   |
|                                                                                                                                                                                                                                                                                                                                                                                    |   | Incurred         |   |   | for      Fiscal Year |   |   | Remaining  |   |   | Actual           |   |
|                                                                                                                                                                                                                                                                                                                                                                                    |   | as      of       |   |   | Ended                |   |   | Costs      |   |   | Costs      as of |   |
|                                                                                                                                                                                                                                                                                                                                                                                    |   | February      2, |   |   | January      31,     |   |   | to      be |   |   | January      31, |   |
| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                     |   | 2008             |   |   | 2009                 |   |   | Incurred   |   |   | 2009             |   |
|                                                                                                                                                                                                                                                                                                                                                                                    |   |             |   |   |                 |   |   |       |   |   |             |   |
| Fiscal      2008 Announcements                                                                                                                                                                                                                                                                                                                                                          |   |             |   |   |                 |   |   |       |   |   |             |   |
| Relocation      of CATHERINES operations:                                                                                                                                                                                                                                                                                                                                               |   |             |   |   |                 |   |   |       |   |   |             |   |
| Severance      and retention costs                                                                                                                                                                                                                                                                                                                                                      |   | $                | 1,696  |   |                 | $      | 383    |       |   | $      | 0                |   |   | $ | 2,079 |   |
| Non-cash      write down and accelerated                                                                                                                                                                                                                                                                                                                                                |   |             |   |   |                 |   |   |       |   |   |             |   |   |   |   |   |
| depreciation                                                                                                             |   |             | 2,299  |   |                 |   | 1,509  |       |   |   | 0                |   |   |   | 3,808 |   |
| Relocation      and other charges                                                                                                                                                                                                                                                                                                                                                       |   |             | 241    |   |                 |   | 925    |       |   |   | 0                |   |   |   | 1,166 |   |
|                                                                                                                                                                                                                                                                                                                                                                                    |   |             |   |   |                 |   |   |       |   |   |             |   |   |   |   |   |
| Closing      of under-performing and PETITE SOPHISTICATE      full line stores:                                                                                                                                                                                                                                                                                                         |   |             |   |   |                 |   |   |       |   |   |             |   |   |   |   |   |
| Non-cash      accelerated depreciation                                                                                                                                                                                                                                                                                                                                                  |   |             | 0      |   |                 |   | 691    |       |   |   | 0                |   |   |   | 691 |   |
| Store      lease termination charges                                                                                                                                                                                                                                                                                                                                                    |   |             | 0      |   |                 |   | 6,909  |       |   |   | 740              |   |   |   | 7,649 |   |
|                                                                                                                                                                                                                                                                                                                                                                                    |   |             |   |   |                 |   |   |       |   |   |             |   |   |   |   |   |
| Severance      and retention costs related to the elimination of      positions                                                                                                                                                                                                                                                                                                         |   |             | 1,096  |   |                 |   | 148    |       |   |   | 0                |   |   |   | 1,244 |   |
|                                                                                                                                                                                                                                                                                                                                                                                    |   |             |   |   |                 |   |   |       |   |   |             |   |   |   |   |   |
| Fiscal      2009 Announcements                                                                                                                                                                                                                                                                                                                                                          |   |             |   |   |                 |   |   |       |   |   |             |   |   |   |   |   |
| Severance      for departure of former CEO                                                                                                                                                                                                                                                                                                                                              |   |             | 0      |   |                 |   | 9,446  |       |   |   | 142              |   |   |   | 9,588 |   |
|                                                                                                                                                                                                                                                                                                                                                                                    |   |             |   |   |                 |   |   |       |   |   |             |   |   |   |   |   |
| Shutdown      of LANE BRYANT WOMAN catalog:                                                                                                                                                                                                                                                                                                                                             |   |             |   |   |                 |   |   |       |   |   |             |   |   |   |   |   |
| Severance      and retention      costs                                                         |   |             | 0      |   |                 |   | 1,557  |       |   |   | 639              |   |   |   | 2,196 |   |
| Non-cash      accelerated depreciation                                                                                                                                                                                                                                                                                                                                                  |   |             | 0      |   |                 |   | 934    |       |   |   | 936              |   |   |   | 1,870 |   |
|                                                                                                                                                                                                                                                                                                                                                                                    |   |             |   |   |                 |   |   |       |   |   |             |   |   |   |   |   |
| Severance      and retention costs related to the elimination of      positions                                                                                                                                                                                                                                                                                                         |   |             | 0      |   |                 |   | 3,873  |       |   |   | 0                |   |   |   | 3,873 |   |
|                                                                                                                                                                                                                                                                                                                                                                                    |   |             |   |   |                 |   |   |       |   |   |             |   |   |   |   |   |
| Non-core      misses apparel assets:                                                                                                                                                                                                                                                                                                                                                    |   |             |   |   |                 |   |   |       |   |   |             |   |   |   |   |   |
| Non-cash      accelerated depreciation                                                                                                                                                                                                                                                                                                                                                  |   |             | 0      |   |                 |   | 2,968  |       |   |   | 3,398            |   |   |   | 6,366 |   |
| Other      costs                                                                                |   |             | 0      |   |                 |   | 420    |       |   |   | 7,000            |   |   |   | 7,420 |   |
|                                                                                                                                                                                                                                                                                                                                                                                    |   |             |   |   |                 |   |   |       |   |   |             |   |   |   |   |   |
| Transformational      initiatives                                                               |   |             | 0      |   |                 |   | 2,563  |       |   |   | 5,223            |   |   |   | 7,786 |   |
|                                                                                                                                                                                                                                                                                                                                                                                    |   |             |   |   |                 |   |   |       |   |   |             |   |   |   |   |   |
| figure      magazine shutdown costs                                                                                                                                                                                                                                                                                                                                                     |   |             | 0      |   |                 |   | 819    |       |   |   | 0                |   |   |   | 819 |   |
| Total                                                                                           |   | $                | 5,332  |   |                 | $      | 33,145 |       |   | $      | 18,078           |   |   | $ | 56,555 |   |

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|                                                                                                                                                                                                                                                                                                                                                                              |   |             |   |   | Costs      Incurred  |   |   |        |   |   |             |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|--------|--------|----------------------|--------|--------|-------------|--------|--------|------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                              |   | Accrued          |   |   | for      Fiscal Year |   |   |        |   |   | Accrued          |   |
|                                                                                                                                                                                                                                                                                                                                                                              |   | as      of       |   |   | Ended                |   |   |        |   |   | as      of       |   |
|                                                                                                                                                                                                                                                                                                                                                                              |   | February      2, |   |   | January      31,     |   |   | Payments/   |   |   | January      31, |   |
| (In      thousands)                                                                                                                                                                                                                                                                                                                                                               |   | 2008(1)          |   |   | 2009                 |   |   | Settlements |   |   | 2009(1)          |   |
|                                                                                                                                                                                                                                                                                                                                                                              |   |             |   |   |                 |   |   |        |   |   |             |   |
| Fiscal      2008 Announcements                                                                                                                                                                                                                                                                                                                                                    |   |             |   |   |                 |   |   |        |   |   |             |   |
| Relocation      of CATHERINES operations:                                                                                                                                                                                                                                                                                                                                         |   |             |   |   |                 |   |   |        |   |   |             |   |
| Severance      and retention costs                                                                                                                                                                                                                                                                                                                                                |   | $                | 1,696  |   |                 | $      | 383    |        |   | $      | 2,079            |   |   | $ | 0 |   |
| Relocation      and other charges                                                                                                                                                                                                                                                                                                                                                 |   |             | 0      |   |                 |   | 925    |        |   |   | 925              |   |   |   | 0 |   |
|                                                                                                                                                                                                                                                                                                                                                                              |   |             |   |   |                 |   |   |        |   |   |             |   |   |   |   |   |
| Closing      of under-performing and PETITE SOPHISTICATE      full line stores:                                                                                                                                                                                                                                                                                                   |   |             |   |   |                 |   |   |        |   |   |             |   |   |   |   |   |
| Store      lease termination charges                                                                                                                                                                                                                                                                                                                                              |   |             | 0      |   |                 |   | 6,909  |        |   |   | 5,222            |   |   |   | 1,687 |   |
|                                                                                                                                                                                                                                                                                                                                                                              |   |             |   |   |                 |   |   |        |   |   |             |   |   |   |   |   |
| Severance      and retention costs related to the elimination of      positions                                                                                                                                                                                                                                                                                                   |   |             | 992    |   |                 |   | 148    |        |   |   | 1,140            |   |   |   | 0 |   |
|                                                                                                                                                                                                                                                                                                                                                                              |   |             |   |   |                 |   |   |        |   |   |             |   |   |   |   |   |
| Fiscal      2009 Announcements                                                                                                                                                                                                                                                                                                                                                    |   |             |   |   |                 |   |   |        |   |   |             |   |   |   |   |   |
| Severance      for departure of former CEO                                                                                                                                                                                                                                                                                                                                        |   |             | 0      |   |                 |   | 9,446  |        |   |   | 3,993            |   |   |   | 5,453 |   |
|                                                                                                                                                                                                                                                                                                                                                                              |   |             |   |   |                 |   |   |        |   |   |             |   |   |   |   |   |
| Shutdown      of LANE BRYANT WOMAN Catalog:                                                                                                                                                                                                                                                                                                                                       |   |             |   |   |                 |   |   |        |   |   |             |   |   |   |   |   |
| Severance      and retention costs                                                                                                                                                                                                                                                                                                                                                |   |             | 0      |   |                 |   | 1,557  |        |   |   | 67               |   |   |   | 1,490 |   |
|                                                                                                                                                                                                                                                                                                                                                                              |   |             |   |   |                 |   |   |        |   |   |             |   |   |   |   |   |
| Severance      and retention costs related to the elimination of      positions                                                                                                                                                                                                                                                                                                   |   |             | 0      |   |                 |   | 3,873  |        |   |   | 925              |   |   |   | 2,948 |   |
|                                                                                                                                                                                                                                                                                                                                                                              |   |             |   |   |                 |   |   |        |   |   |             |   |   |   |   |   |
| Non-core      misses apparel assets:                                                                                                                                                                                                                                                                                                                                              |   |             |   |   |                 |   |   |        |   |   |             |   |   |   |   |   |
| Other      costs                                                                                                   |   |             | 0      |   |                 |   | 420    |        |   |   | 0                |   |   |   | 420 |   |
|                                                                                                                                                                                                                                                                                                                                                                              |   |             |   |   |                 |   |   |        |   |   |             |   |   |   |   |   |
| Transformational      initiatives                                                         |   |             | 0      |   |                 |   | 2,563  |        |   |   | 1,184            |   |   |   | 1,379 |   |
|                                                                                                                                                                                                                                                                                                                                                                              |   |             |   |   |                 |   |   |        |   |   |             |   |   |   |   |   |
| figure      magazine shutdown costs                                                                                                                                                                                                                                                                                                                                               |   |             | 0      |   |                 |   | 819    |        |   |   | 0                |   |   |   | 819 |   |
| Total                                                                                                                                                                                                                                                                                                                                                                             |   | $                | 2,688  |   |                 | $      | 27,043 |        |   | $      | 15,535           |   |   | $ | 14,196 |   |
| ____________________                                                                                                                                                                                                                                                                                                                                                              |   |
|                                                                                                                                                                                                                                                                                                                                                                              |   |
| (1)          Included in “Accrued expenses” in the accompanying consolidated balance      sheets.                                                                                                                                                                                                                                                 |   |

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| ● | the      elimination of approximately 150 corporate and field management      positions;                                                                            |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                |
| ● | a      decrease in the capital budget for Fiscal 2009, primarily through a      significant reduction in the number of planned store openings for Fiscal      2009; |
|    |                                                                                                                                                                |
| ● | the      closing of approximately 150 under-performing stores;  and                                                                                                 |
|    |                                                                                                                                                                |
| ● | the      closing of our full-line PETITE SOPHISTICATE  stores.                                                                                                      |

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| ● | Refocus      on our core retail brands.                                                    |
|---------|--------------------------------------------------------------------------------------------|
|    |                                                                                       |
| ● | Simplify      the business by eliminating distractions and divesting non-core      assets. |
|    |                                                                                       |
| ● | Substantially      reduce operating expenses and streamline operations.                    |
|    |                                                                                       |
| ● | Maintain      and protect our strong balance sheet and liquidity    position.              |

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| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | 2009   |     |   | 2008   |   |    | 2007   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|----------|--------|--------|--------|---------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |     |   |   |   |    |   |   |
| Basic      weighted average common shares outstanding                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   | 114,690  |   |   |   | 121,160 |   |   |   | 122,388 |   |
| Dilutive      effect of assumed conversion of 4.75%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   |     |   |   |   |    |   |   |   |   |   |
| Senior Convertible Notes(1)(2)                                                                                                                                             |   |   | 0        |   |   |   | 0       |   |   |   | 15,182 |   |
| Dilutive      effect of stock options, stock appreciation rights, and awards(2)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   | 0        |   |   |   | 1,266   |   |   |   | 2,193 |   |
| Diluted      weighted average common shares and equivalents outstanding                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | 114,690  |   |   |   | 122,426 |   |   |   | 139,763 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |     |   |   |   |    |   |   |   |   |   |
| Income/(loss)      from continuing      operations                                                                                                |   | $      | (169,289 | )      |   | $      | 714     |   |   | $ | 101,959 |   |
| Decrease      in interest expense from assumed conversion                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |     |   |   |   |    |   |   |   |   |   |
| of 4.75% Senior Convertible      Notes, net of income taxes(1)(2)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | 0        |   |   |   | 0       |   |   |   | 4,514 |   |
| Income/(loss)      from continuing operations used to determine                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   |     |   |   |   |    |   |   |   |   |   |
| diluted net income/(loss) per      share                                                                                                                                   |   |   | (169,289 | )      |   |   | 714     |   |   |   | 106,473 |   |
| Income/(loss)      from discontinued operations,      net of income taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |     |   |   |   |    |   |   |   |   |   |
| in 2008 and      2007                                                                                                                                                      |   |   | (74,922  | )      |   |   | (85,039 | )      |   |   | 6,964 |   |
| Extraordinary      item, net of income      taxes                                                                                                 |   |   | 0        |   |   |   | 912     |   |   |   | 0 |   |
| Net      income/(loss) used to determine diluted net income/(loss) per      share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | $      | (244,211 | )      |   | $      | (83,413 | )      |   | $ | 113,437 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |     |   |   |   |    |   |   |   |   |   |
| Options      with weighted average exercise price greater than market      price,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |     |   |   |   |    |   |   |   |   |   |
| excluded from computation of      diluted earnings per share:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   |     |   |   |   |    |   |   |   |   |   |
| Number of shares      (thousands)                                                                                                                                               |   |   | –  | (2)    |   |   | 77      |   |   |   | 1 |   |
| Weighted average exercise price      per      share                                                                                                                             |   |   | –  | (2)    |   | $      | 9.27    |   |   | $ | 13.84 |   |
| ____________________                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
| (1)          The 4.75% Senior Convertible Notes were converted or redeemed on June 4,      2007 (see “NOTE 8.      LONG-TERM DEBT” above).                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
| (2)          The 4.75% Senior Convertible Notes are excluded from the computation of      diluted net loss per share for 2008, and stock options, stock appreciation      rights, and awards are excluded from the computation of diluted net      loss per share for 2009, as their effect would have been      anti-dilutive.                                                                                                                                                                                                                                                                                     |   |

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| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | 2009   |    |   | 2008   |   |    | 2007   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   |    |   |   |   |    |   |   |
| Value      of the I/O strip at beginning of      year                                                                                     |   | $      | 23,259  |   |   | $      | 15,878  |   |   | $ | 15,061 |   |
| Additions      to the I/O      strip                                                                                                      |   |   | 34,353  |   |   |   | 38,129  |   |   |   | 24,125 |   |
| Amortization      of the I/O      strip                                                                                                   |   |   | (38,347 | )      |   |   | (30,643 | )      |   |   | (24,608 | ) |
| Valuation      adjustments                                                                                                                |   |   | 33      |   |   |   | (105    | )      |   |   | 1,300 |   |
| Value      of the I/O strip at end of      year                                                                                           |   | $      | 19,298  |   |   | $      | 23,259  |   |   | $ | 15,878 |   |

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| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 2009   |   |   | 2008   |   |   | 2007   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   |   |   |   |   |   |   |   |
| Value      of the servicing liability at beginning of year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | $      | 3,038  |   |   | $      | 2,103  |   |   | $ | 2,297 |   |
| Additions      to the servicing      liability                                                                                                |   |   | 5,175  |   |   |   | 4,659  |   |   |   | 2,972 |   |
| Amortization      of the servicing      liability                                                                                             |   |   | (5,167 | )      |   |   | (3,724 | )      |   |   | (3,166 | ) |
| Value      of the servicing liability at end of      year                                                                                     |   | $      | 3,046  |   |   | $      | 3,038  |   |   | $ | 2,103 |   |

| (In      thousands)                                                                                                   |   | 2009   |    |   | 2008   |   |    | 2007   |   |
|-----------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
|                                                                                                                  |   |   |    |   |   |   |    |   |   |
| Gain      on sale of receivables to the Trust                                                                         |   | $      | 34,353  |   |   | $      | 38,129  |   |   | $ | 24,125 |   |
| Amortization      of the I/O strip                                                                                    |   |   | (38,347 | )      |   |   | (30,643 | )      |   |   | (24,608 | ) |
| Valuation      adjustments of the I/O strip                                                                           |   |   | 33      |   |   |   | (105    | )      |   |   | 1,300 |   |
| Residual      cash flow earned related to I/O interest(1)                                                             |   |   | 104,750 |   |   |   | 84,085  |   |   |   | 73,899 |   |
| Additions      to the servicing liability                                                                             |   |   | (5,175  | )      |   |   | (4,659  | )      |   |   | (2,972 | ) |
| Amortization      of the servicing liability                                                                          |   |   | 5,167   |   |   |   | 3,724   |   |   |   | 3,166 |   |
| Decrease      in selling, general, and administrative expenses                                                        |   | $      | 100,781 |   |   | $      | 90,531  |   |   | $ | 74,910 |   |
| ____________________                                                                                                  |   |   |    |   |   |   |    |   |   |   |   |   |
|                                                                                                                  |   |
| (1)          Includes servicing fees of $11,258 in 2009, $8,211 in 2008, and $6,981 in      2007. |   |

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| (In      thousands)                                                 |   | 2009   |      |   | 2008   |   |    | 2007   |   |
|---------------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|---------|--------|--------|
|                                                                |   |   |      |   |   |   |    |   |   |
| Proceeds      from sales of new receivables to QSPE                 |   | $      | 861,730   |   |   | $      | 939,888 |   |   | $ | 619,597 |   |
| Collections      reinvested in revolving-period securitizations     |   |   | 1,065,207 |   |   |   | 804,866 |   |   |   | 701,859 |   |
| Cash      flows received on retained interests                      |   |   | 104,750   |   |   |   | 84,085  |   |   |   | 73,899 |   |
| Servicing      fees received                                        |   |   | 11,258    |   |   |   | 8,211   |   |   |   | 6,981 |   |
| Net      credit losses                                              |   |   | 47,669    |   |   |   | 26,838  |   |   |   | 16,822 |   |
| Investor      certificates outstanding at end of year               |   |   | 544,100   |   |   |   | 628,085 |   |   |   | 358,100 |   |
| Credit      card balances 90 or more days delinquent at end of year |   |   | 23,422    |   |   |   | 22,240  |   |   |   | 9,904 |   |

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| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 2008   |    |   | 2007   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |    |   |   |   |
| Net      funding received from sales of LANE BRYANT receivables                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | $      | 256,889 |   |   | $      | 350,270 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |    |   |   |   |   |   |
| Net LANE BRYANT accounts receivable balance held by third      party at end of year(1):                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   | 0       |   |   |   | 233,793 |   |
| ____________________                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |    |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |
| (1)          The LANE BRYANT net accounts receivable balances include amounts allocated      to the use of the LANE BRYANT credit card at our LANE BRYANT stores and      amounts allocated to the use of the LANE BRYANT credit card through a      third-party catalog program. Our purchase of the LANE BRYANT credit      card receivables applied only to the receivables associated with accounts      whose primary use of the credit card was at our LANE BRYANT      stores. |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | January      31,           | February      2,           |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------|----------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 2009                       | 2008                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                       |                       |
| Payment      rate                                                                                                                           | 12.1      – 14.6%    | 12.7      – 16.4%    |
| Residual      cash flows discount      rate                                                                                                 | 15.5      – 16.5%    | 15.5      – 16.5%    |
| Net      credit loss      percentage                                                                                                        | 6.75      – 11.75%   | 4.75      – 13.45%   |
| Average      life of receivables      sold                                                                                                  | 0.6      – 0.7 years | 0.5      – 0.7 years |

| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 10% Change |   |   | 20% Change |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------|--------|--------|------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |       |   |   |       |   |
| Payment      rate                                                                                                                            |   | $          | 1,575  |   |       | $      | 2,850 |   |
| Residual      cash flows discount      rate                                                                                                  |   |       | 74     |   |       |   | 148 |   |
| Credit      loss      percentage                                                                                                             |   |       | 1,593  |   |       |   | 3,174 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | January      31, |   |   | February      2, |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|--------|--------|------------------|--------|
| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | 2009             |   |   | 2008             |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |             |   |   |             |   |
| Trading      securities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |             |   |   |             |   |
| I/O      Strip                                                                                                                                                      |   | $                | 19,298 |   |             | $      | 23,259 |   |
| Retained      interest (primarily collateralized      cash)                                                                                                         |   |             | 23,755 |   |             |   | 40,968 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |             |   |   |             |   |   |   |
| Available-for-sale      securities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |             |   |   |             |   |   |   |
| Ownership      interest                                                                                                                                             |   |             | 51,400 |   |             |   | 51,685 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |             |   |   |             |   |   |   |
| Investment      in asset-backed      securities                                                                                                                     |   | $                | 94,453 |   |             | $      | 115,912 |   |

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| (In      thousands)                                                                                                                                                                                                                                                  |   | 2009   |    |   | 2008   |   |    | 2007   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
|                                                                                                                                                                                                                                                                 |   |   |    |   |   |   |    |   |   |
| Minimum      rent                                            |   | $      | 238,477 |   |   | $      | 243,119 |   |   | $ | 236,839 |   |
| Contingent      rent                                         |   |   | 40,055  |   |   |   | 41,122  |   |   |   | 39,364 |   |
|                                                                                                                                                                                                                                                                 |   | $      | 278,532 |   |   | $      | 284,241 |   |   | $ | 276,203 |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                        |   | Retail |      |   | Direct-to-  |   |    | Corporate |   |   |         |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------|--------|-------------|--------|---------|-----------|--------|--------|--------------|--------|
| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                         |   | Stores |      |   | Consumer(1) |   |    | and Other |   |   | Consolidated |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |      |   |        |   |    |      |   |   |         |   |
| Fiscal      2009                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |      |   |        |   |    |      |   |   |         |   |
| Net      sales                                                                                        |   | $      | 2,292,106 |   |        | $      | 167,547 |      |   | $      | 15,245       |   |   | $ | 2,474,898 |   |
| Depreciation      and      amortization                                                               |   |   | 71,778    |   |        |   | 1,126   |      |   |   | 21,539       |   |   |   | 94,443 | (3) |
| Income/(loss)      before interest and taxes                                                                                                                                                                                                                                                                                                                                                                                |   |   | 38,653    |   |        |   | (6,288  | )         |   |   | (206,744     | )(2)   |   |   | (174,379 | ) |
| Interest      expense                                                                                 |   |   |      |   |        |   |    |      |   |   | (8,795       | )      |   |   | (8,795 | ) |
| Income      tax      benefit                                                                          |   |   |      |   |        |   |    |      |   |   | 13,885       |   |   |   | 13,885 |   |
| Income/(loss)      from continuing operations                                                                                                                                                                                                                                                                                                                                                                               |   |   | 38,653    |   |        |   | (6,288  | )         |   |   | (201,654     | )      |   |   | (169,289 | ) |
| Capital      expenditures                                                                             |   |   | 48,247    |   |        |   | 362     |      |   |   | 6,710        |   |   |   | 55,319 | (3) |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |      |   |        |   |    |      |   |   |         |   |   |   |   |   |
| As      of January 31, 2009                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |      |   |        |   |    |      |   |   |         |   |   |   |   |   |
| Total      assets                                                                                     |   | $      | 734,820   |   |        | $      | 90,450  |      |   | $      | 454,422      |   |   | $ | 1,279,692 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |      |   |        |   |    |      |   |   |         |   |   |   |   |   |
| Fiscal      2008                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |      |   |        |   |    |      |   |   |         |   |   |   |   |   |
| Net      sales                                                                                                       |   | $      | 2,590,715 |   |        | $      | 120,593 |      |   | $      | 11,154       |   |   | $ | 2,722,462 |   |
| Depreciation      and      amortization                                                                              |   |   | 59,440    |   |        |   | 1,142   |      |   |   | 33,844       |   |   |   | 94,426 | (3) |
| Income      before interest and taxes                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 168,307   |   |        |   | 847     |      |   |   | (144,030     | )(4)   |   |   | 25,124 |   |
| Interest      expense                                                                                                |   |   |      |   |        |   |    |      |   |   | (10,552      | )      |   |   | (10,552 | ) |
| Income      tax      provision                                                                                       |   |   |      |   |        |   |    |      |   |   | (13,858      | )      |   |   | (13,858 | ) |
| Extraordinary      item, net of income taxes                                                                                                                                                                                                                                                                                                                                                                                |   |   |      |   |        |   |    |      |   |   | 912          |   |   |   | 912 |   |
| Income      from continuing      operations                                                                          |   |   | 168,307   |   |        |   | 847     |      |   |   | (167,528     | )      |   |   | 1,626 |   |
| Capital      expenditures                                                                                            |   |   | 109,510   |   |        |   | 1,092   |      |   |   | 24,812       |   |   |   | 135,414 | (3) |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |      |   |        |   |    |      |   |   |         |   |   |   |   |   |
| As      of February 2, 2008                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |      |   |        |   |    |      |   |   |         |   |   |   |   |   |
| Total      assets                                                                                                    |   | $      | 887,862   |   |        | $      | 104,509 |      |   | $      | 499,238      |   |   | $ | 1,491,609 | (5) |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |      |   |        |   |    |      |   |   |         |   |   |   |   |   |
| Fiscal      2007 (53 weeks)                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |      |   |        |   |    |      |   |   |         |   |   |   |   |   |
| Net      sales                                                                                                       |   | $      | 2,636,409 |   |        | $      | 112,088 |      |   | $      | 3,348        |   |   | $ | 2,751,845 |   |
| Depreciation      and      amortization                                                                              |   |   | 46,746    |   |        |   | 1,183   |      |   |   | 40,404       |   |   |   | 88,333 | (3) |
| Income      before interest and      taxes                                                                           |   |   | 253,594   |   |        |   | 15,839  |      |   |   | (98,889      | )      |   |   | 170,544 |   |
| Interest      expense                                                                                                |   |   |      |   |        |   |    |      |   |   | (14,746      | )      |   |   | (14,746 | ) |
| Income      tax      provision                                                                                       |   |   |      |   |        |   |    |      |   |   | (53,839      | )      |   |   | (53,839 | ) |
| Income      from continuing      operations                                                                          |   |   | 253,594   |   |        |   | 15,839  |      |   |   | (167,474     | )      |   |   | 101,959 |   |
| Capital      expenditures                                                                                            |   |   | 103,510   |   |        |   | 2,614   |      |   |   | 19,692       |   |   |   | 125,816 | (3) |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |      |   |        |   |    |      |   |   |         |   |   |   |   |   |
| As      of February 3, 2007                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |      |   |        |   |    |      |   |   |         |   |   |   |   |   |
| Total      assets                                                                                                    |   | $      | 869,776   |   |        | $      | 134,007 |      |   | $      | 489,206      |   |   | $ | 1,492,989 | (5) |
| ____________________                                                                                                                                                                                                                                                                                                                                                                                                        |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
| (1)           Fiscal 2009 and Fiscal 2008 includes LANE BRYANT WOMAN      catalog.                                                                                                                                                                                                                                                                                                                 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
| (2)          Includes impairment of store assets goodwill, and trademarks of $81,498      and restructuring and other costs of $33,145(see “NOTE 13. IMPAIRMENT OF      STORE ASSETS, GOODWILL, AND TRADEMARKS” and“NOTE 14. RESTRUCTURING      AND OTHER CHARGES” above).                                                                                            |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
| (3)          Excludes $776 of depreciation and amortization and $481 of capital      expenditures in Fiscal 2009; $2,823 of depreciation and amortization and      $2,295 of capital expenditures in Fiscal 2008; and $2,911 of depreciation      and amortization and $7,340 of capital expenditures in Fiscal 2007 related      to our discontinued operations.                                       |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
| (4)          Includes impairment of goodwill of $18,172 and restructuring charges of      $14,357.                                                                                                                                                                                                                                                                                                      |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
| (5)          Excludes assets related to our discontinued operations of $121,695 in      Fiscal 2008 amd $212,734 in Fiscal 2007.                                                                                                                                                                                                                                                                        |   |

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|                                                                                                                                                                                                                                                          |   | Balance          |   |   |                   |   |   |       |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|--------|--------|------------------------|--------|--------|------------|--------|
|                                                                                                                                                                                                                                                          |   | January      31, |   |   | Fair Value Method Used |   |
| (In      thousands)                                                                                                                                                                                                                                           |   | 2009             |   |   | Level 2                |   |   | Level 3(1) |   |
|                                                                                                                                                                                                                                                          |   |             |   |   |                   |   |   |       |   |
| Assets                                                                                                                                                                                                                                                        |   |             |   |   |                   |   |   |       |   |
| Available-for-sale      securities(2)                                                                                                                                                                                                                         |   | $                | 6,398  |   |                   | $      | 6,398  |       |   |   |   |
| Certificates      and retained interests in securitized receivables                                                                                                                                                                                           |   |             | 94,453 |   |                   |   |   |       |   | $ | 94,453 |   |
|                                                                                                                                                                                                                                                          |   |             |   |   |                   |   |   |       |   |   |   |   |
| Liabilities                                                                                                                                                                                                                                                   |   |             |   |   |                   |   |   |       |   |   |   |   |
| Servicing      liability                                                                                                                                                                                                                                      |   |             | 3,046  |   |                   |   |   |       |   |   | 3,046 |   |
| ____________________                                                                                                                                                                                                                                          |   |
|                                                                                                                                                                                                                                                          |   |
| (1)          Fair value is estimated based on internally-developed models or      methodologies utilizing significant inputs that are unobservable from      objective sources.                                                           |   |
|                                                                                                                                                                                                                                                          |   |
| (2)          Unrealized gains and losses on our available-for-sale securities are      included in stockholders’ equity until realized and realized gains and      losses are recognized in income when the securities are    sold. |   |

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|                                                                |   | Retained  |    |   | Servicing |   |
|---------------------------------------------------------------------|--------|-----------|---------|--------|-----------|--------|
| (In      thousands)                                                 |   | Interests |    |   | Liability |   |
|                                                                |   |      |    |   |      |   |
| Balance,      February 2, 2008                                      |   | $         | 115,912 |   |      | $      | 3,038 |   |
| Additions      to I/O strip and servicing liability                 |   |      | 34,353  |   |      |   | 5,175 |   |
| Net      reductions to other retained interests                     |   |      | (17,213 | )      |      |   | – |   |
| Reductions      and maturities of QSPE certificates                 |   |      | (285    | )      |      |   | – |   |
| Amortization      of the I/O strip and servicing liability          |   |      | (38,347 | )      |      |   | (5,167 | ) |
| Valuation      adjustments to the I/O strip and servicing liability |   |      | 33      |   |      |   | 0 |   |
| Balance,      January 31, 2009                                      |   | $         | 94,453  |   |      | $      | 3,046 |   |

|                                          |   | January 31, 2009 |    |   | February 2, 2008 |   |
|-----------------------------------------------|--------|------------------|---------|--------|------------------|--------|
|                                          |   | Carrying         |    |   | Fair             |   |   | Carrying |   |   | Fair |   |
| (In      thousands)                           |   | Amount           |    |   | Value            |   |   | Amount |   |   | Value |   |
|                                          |   |             |    |   |             |   |   |   |   |   |   |   |
| Assets:                                       |   |             |    |   |             |   |   |   |   |   |   |   |
| Cash      and cash equivalents                |   | $                | 93,759  |   |             | $      | 93,759 |   |   | $ | 60,978 |   |   | $ | 60,978 |   |
| Available-for-sale      securities            |   |             | 6,398   |   |             |   | 6,398 |   |   |   | 13,364 |   |   |   | 13,364 |   |
| Investment      in asset-backed securities    |   |             | 94,453  |   |             |   | 94,453 |   |   |   | 115,912 |   |   |   | 115,912 |   |
|                                          |   |             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Liabilities:                                  |   |             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| 1.125%      Senior Convertible Notes due 2014 |   |             | 275,000 |   |             |   | 75,295 |   |   |   | 275,000 |   |   |   | 196,676 |   |
| 6.07%      mortgage note, due October 2014    |   |             | 10,419  |   |             |   | 11,330 |   |   |   | 11,078 |   |   |   | 11,626 |   |
| 6.53%      mortgage note, due November 2012   |   |             | 5,250   |   |             |   | 5,493 |   |   |   | 6,650 |   |   |   | 6,863 |   |
| 7.77%      mortgage note, due December 2011   |   |             | 7,249   |   |             |   | 7,959 |   |   |   | 7,897 |   |   |   | 8,585 |   |
| Other      long-term debt                     |   |             | 422     |   |             |   | 414 |   |   |   | 673 |   |   |   | 651 |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | First         |      |   | Second        |   |    | Third         |   |   | Fourth  |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|-----------|--------|---------------|--------|---------|---------------|--------|--------|---------|--------|
| (In      thousands, except per share amounts)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Quarter       |      |   | Quarter       |   |    | Quarter       |   |   | Quarter |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | (Restated)(5) |      |   | (Restated)(5) |   |    | (Restated)(5) |   |   |    |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |          |      |   |          |   |    |          |   |   |    |   |
| Fiscal      2009                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |          |      |   |          |   |    |          |   |   |    |   |
| Net      sales                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | $             | 641,346   |   |          | $      | 648,616 |          |   | $      | 553,066 |   |   | $ | 631,870 |   |
| Gross      profit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |          | 194,163   |   |          |   | 174,748 |          |   |   | 124,728 |   |   |   | 134,305 |   |
| Income/(loss)      from continuing operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |          | 657       | (1)    |          |   | (3,710  | )(2)          |   |   | (57,785 | )(3)   |   |   | (108,451 | )(4) |
| Loss      from discontinued operations(5)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |          | (45,894   | )      |          |   | (5,153  | )             |   |   | (23,875 | )      |   |   | 0 |   |
| Net      loss(5)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |          | (45,237   | )(1)   |          |   | (8,863  | )(2)          |   |   | (81,660 | )(3)   |   |   | (108,451 | )(4) |
| Basic      net income/(loss) per share:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |          |      |   |          |   |    |          |   |   |    |   |   |   |   |   |
| Continuing      operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | $             |  .01 | (1)    |          | $      | (.03    | )(2)          |   | $      | (.50    | )(3)   |   | $ | (.94 | )(4) |
| Discontinued operations(5)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |          | (.40      | )      |          |   | (.05    | )             |   |   | (.21    | )      |   |   | .00 |   |
| Net loss(5)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |          | (.39      | )(1)   |          |   | (.08    | )(2)          |   |   | (.71    | )(3)   |   |   | (.94 | )(4) |
| Diluted      net income/(loss) per share:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |          |      |   |          |   |    |          |   |   |    |   |   |   |   |   |
| Continuing      operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |          | .01       | (1)    |          |   | (.03    | )(2)          |   |   | (.50    | )(3)   |   |   | (.94 | )(4) |
| Discontinued operations(5)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |          | (.40      | )      |          |   | (.05    | )             |   |   | (.21    | )      |   |   | .00 |   |
| Net loss(5)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |          | (.39      | )(1)   |          |   | (.08    | )(2)          |   |   | (.71    | )(3)   |   |   | (.94 | )(4) |
| ____________________                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| (1)          Includes restructuring charges of $3,611 ($2,257 after tax or $(.02) per      diluted share). See “NOTE 14. RESTRUCTURING      AND OTHER CHARGES” above.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| (2)          Includes restructuring and other charges of $14,945 ($9,341after tax or      $(.08) per diluted share). See “NOTE 14. RESTRUCTURING      AND OTHER CHARGES” above.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| (3)          Includes store impairment charges of $20,216 ($(.18) per diluted share)      and restructuring and other charges of $6,391 ($(.06) per diluted      share). See “NOTE      13. IMPAIRMENT OF STORE ASSETS, GOODWILL, AND TRADEMARKS” and      “NOTE      14. RESTRUCTURING AND OTHER CHARGES” above.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| (4)          Includes store impairment charges of $16,576 ($(.14) per diluted share),      goodwill and trademark impairment charges of $44,706 ($(.39) per diluted      share), and restructuring charges of $8,198 ($(.07) per diluted      share). See “NOTE      13. IMPAIRMENT OF STORE ASSETS, GOODWILL, AND TRADEMAR,S” and      “NOTE      14. RESTRUCTURING AND OTHER CHARGES” above.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| (5)          Loss from discontinued operations and net loss and the related per-share      amounts as previously reported for the first three quarters have been      restated for excess tax benefits related to discontinued operations of      $10,780 ($(.09) per diluted share) recognized in the first quarter and      $526 ($(.01) per diluted share) recognized in the second quarter that were      reversed in the third quarter of $11,306 ($.10 per diluted share) as a      result of the correction of an error. The error was identified as      part of the finalization of the sale of the discontinued operations during      the Fiscal 2009 Third Quarter, and was related to our treatment of      deferred tax balances in calculating the estimated loss on      disposal. In determining the net book value used to calculate the      estimated pre-tax loss on disposal, we included the balance of the net      deferred tax liability relating to temporary differences of the assets and      liabilities to be disposed. We then included the reversal of the same      net deferred tax liability in our calculation of the tax benefit      associated with the pre-tax loss, thereby double-counting the impact of      the net deferred tax liability. The loss from discontinued operations      for the first quarter included an estimated loss on disposition of $39,170      ($(.34) per diluted share), net of a tax benefit of$6,081. |   |

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Table of Contents

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | First   |    |   | Second  |   |    | Third   |   |   | Fourth  |       |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------|---------|--------|---------|--------|---------|---------|--------|--------|---------|------------|
| (In      thousands, except per share amounts)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Quarter |    |   | Quarter |   |    | Quarter |   |   | Quarter |       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |    |    |   |    |   |    |    |   |   |    |       |
| Fiscal      2008                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |    |    |   |    |   |    |    |   |   |    |       |
| Net      sales                                                                                                                                                                                                                                                                                                                                                                                         |   | $       | 696,614 |   |    | $      | 694,359 |    |   | $      | 599,665 |       |   | $ | 731,824 |   |
| Gross      profit                                                                                                                                                                                                                                                                                                                                                                                      |   |    | 224,365 |   |    |   | 209,941 |    |   |   | 170,569 |       |   |   | 163,092 |   |
| Income/(loss)      from continuing operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |    | 26,466  |   |    |   | 20,894  |    |   |   | (1,740  | )      (1) |   |   | (44,906 | )(2) |
| Income/(loss)      from discontinued operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |    | (168    | )      |    |   | (2,615  | )       |   |   | (1,828  | )          |   |   | (80,428 | )(2) |
| Income/(loss)      before extraordinary item                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |    | 26,298  |   |    |   | 18,279  |    |   |   | (3,568  | )          |   |   | (125,334 | )(2) |
| Net      income/(loss)                                                                                                                                                                                                                                                                                                                                                                                 |   |    | 26,298  |   |    |   | 18,279  |    |   |   | (3,568  | )(1)       |   |   | (124,422 | )(2) |
| Basic      net income/(loss) per share:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |    |    |   |    |   |    |    |   |   |    |       |   |   |   |   |
| Continuing      operations                                                                                                                                                                                                                                                                                                                                                                                                      |   | $       | .22     |   |    | $      | .17     |    |   | $      | (.01    | )          |   | $ | (.39 | )(2) |
| Discontinued      operations                                                                                                                                                                                                                                                                                                                                                                                                    |   |    | .00     |   |    |   | (.02    | )       |   |   | (.02    | )          |   |   | (.69 | )(2) |
| Extraordinary      item                                                                                                                                                                                                                                                                                                                                                                                                         |   |    | .00     |   |    |   | .00     |    |   |   | .00     |       |   |   | .01 |   |
| Net income/(loss)(3)                                                                                                                                                                                                                                                                                                                                                                                                            |   |    | .21     |   |    |   | .15     |    |   |   | (.03    | )          |   |   | (1.07 | )(2) |
| Diluted      net income/(loss) per share:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |    |    |   |    |   |    |    |   |   |    |       |   |   |   |   |
| Continuing      operations                                                                                                                                                                                                                                                                                                                                                                                                      |   |    | .20     |   |    |   | .16     |    |   |   | (.01    | )          |   |   | (.39 | )(2) |
| Discontinued      operations                                                                                                                                                                                                                                                                                                                                                                                                    |   |    | .00     |   |    |   | (.02    | )       |   |   | (.02    | )          |   |   | (.69 | )(2) |
| Extraordinary      item                                                                                                                                                                                                                                                                                                                                                                                                         |   |    | .00     |   |    |   | .00     |    |   |   | .00     |       |   |   | .01 |   |
| Net income/(loss)(3)                                                                                                                                                                                                                                                                                                                                                                                                            |   |    | .20     |   |    |   | .14     |    |   |   | (.03    | )          |   |   | (1.07 | )(2) |
| ____________________                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| (1)         Includes pre-tax gain of $6,830 from the purchase and subsequent      securitization of the LANE BRYANT credit card portfolio. See “NOTE 17. ASSET      SECURITIZATION” above.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| (2)         Loss from continuing operations includes impairment of goodwill of      $18,172 ($(.16) per diluted share), impairment of store assets of $9,025      ($5,596 after tax or $(.05) per diluted share), and restructuring charges      of $5,332 ($3,306 after tax or $(.03) per diluted share. Loss from      discontinued operations includes impairment of goodwill and trademarks of      $80,047 ($75,740 after tax or $(.65) per diluted share. See “NOTE 2. DISCONTINUED      OPERATIONS,” “NOTE 13. IMPAIRMENT OF STORE ASSETS, GOODWILL AND      TRADEMARKS,” and “NOTE 14. RESTRUCTURING      AND OTHER CHARGES” above. |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
| (3)         Results may not add due to rounding.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |

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Item 9.  Changes In and Disagreements WithAccountants on Accounting and Financial Disclosure

Item 9A.  Controls andProcedures

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Table of Contents

PARTIII

Item 10.  Directors, Executive Officers, andCorporate Governance

Item 11.  ExecutiveCompensation

Item 12.  Security Ownership of CertainBeneficial Owners and Management and Related StockholderMatters

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Table of Contents

Item 13.  Certain Relationships and RelatedTransactions, and Director Independence

Item 14.  Principal Accountant Fees andServices

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Table of Contents

PARTIV

Item 15.  Exhibits and Financial StatementSchedules

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Page   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| (a)(1)  Financial      Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
| Management’s Report on      Internal Control over Financial      Reporting                                                                                                                                                 | 67     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
| Report of      Independent Registered Public Accounting Firm on Internal Control                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
| Over Financial      Reporting                                                                                                                                                                                                    | 68-69  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
| Report of Independent      Registered Public Accounting      Firm                                                                                                                                                                | 70     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
| Consolidated Balance      Sheets – January 31,      2009 and February 2, 2008                                                                                                                                         | 71     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
| Consolidated Statements      of Operations and Comprehensive Income –                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
| Years Ended January 31, 2009, February 2, 2008, and      February 3, 2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 72     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
| Consolidated      Statements of Stockholders’ Equity – Years      Ended                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| January 31, 2009,      February 2, 2008,      and February 3, 2007                                                                                                                                                               | 73     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
| Consolidated Statements of      Cash Flows – Years Ended                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
| January 31, 2009, February      2, 2008,      and February 3,      2007                                                                                                                                                     | 74     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
| Notes to      Consolidated Financial      Statements                                                                                                                                                                             | 76     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
| (a)(2)  Financial      Statement Schedules                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
| Schedule      II.  Valuation and Qualifying Accounts and      Reserves                                                                                                                                                 | 167    |

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Table of Contents

| 2.1    | Covenant      Agreement, dated as of August 16, 2001, between Charming Shoppes, Inc. and      Limited Brands, Inc., incorporated by reference to Form 8-K of the      Registrant dated August 16, 2001, filed on August 31, 2001 (File No.      000-07258, Exhibit 2.3).                                                                                                                                                                                                     |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 2.2    | Master      Sublease, dated as of August 16, 2001, between Limited Brands, Inc. and      Lane Bryant, Inc., incorporated by reference to Form 8-K of the Registrant      dated August 16, 2001, filed on August 31, 2001 (File No. 000-07258,      Exhibit 2.4).                                                                                                                                                                                                             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 2.3    | Stock      Purchase Agreement dated May 19, 2005 by and among Chestnut Acquisition      Sub, Inc., Crosstown Traders, Inc., the Securityholders of Crosstown      Traders, Inc. whose names are set forth on the signature pages thereto and      J.P. Morgan Partners (BHCA), L.P., as the Sellers’ Representative,      incorporated by reference to Form 8-K of the Registrant dated June 2,      2005, filed on June 8, 2005 (File No. 000-07258, Exhibit    2.1). |

| 3.1    | Restated      Articles of Incorporation, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended ended August 2, 2008 (File No. 000-07258,      Exhibit 3.1). |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                      |
| 3.2    | By-Laws, as Amended and      Restated.                                                                                                                                                    |

| 4.1    | Amended      and Restated Rights Agreement, dated as of February 1, 2001, between      Charming Shoppes, Inc. and American Stock Transfer & Trust Company, as      Rights Agent, incorporated by reference to Form 10-K of the Registrant for      the fiscal year ended February 3, 2001 (File No. 000-07258, Exhibit      4.1). |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                  |
| 4.2    | Registration      Agreement, dated as of August 16, 2001, between Charming Shoppes, Inc. and      Limited Brands, Inc., incorporated by reference to Form 8-K of the      Registrant dated August 16, 2001, filed on August 31, 2001 (File No.      000-07258, Exhibit 4.1).                                                          |
|   |                                                                                                                                                                                                                                                                                                                                  |

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Table of Contents

| 4.3    | Second      Amended and Restated Loan and Security Agreement, dated July 28, 2005, by      and among Charming Shoppes, Inc., Charming Shoppes of Delaware, Inc., CSI      Industries, Inc., FB Apparel, Inc., Catherines Stores Corporation, Lane      Bryant, Inc., and Crosstown Traders, Inc. as borrowers; a syndicate of      banks and other financial institutions as lenders, including Wachovia      Bank, National Association as agent for the lenders; and certain of the      Company’s subsidiaries as guarantors, incorporated by reference to Form      8-K of the Registrant dated July 28, 2005, filed on August 3, 2005 (File      No. 000-07258, Exhibit 10.1).                                            |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 4.4    | Amendment      No. 1, dated as of May 17, 2006, to Second Amended and Restated Loan and      Security Agreement, dated July 28, 2005, by and among Charming Shoppes,      Inc., Charming Shoppes of Delaware, Inc., CSI Industries, Inc., FB      Apparel, Inc., Catherines Stores Corporation, Lane Bryant, Inc., and      Crosstown Traders, Inc. as borrowers; a syndicate of banks and other      financial institutions as lenders, including Wachovia Bank, National      Association as agent for the lenders; and certain of the Company’s      subsidiaries as guarantors, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended July 29, 2006 (File No. 000-07258,      Exhibit 99.1). |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 4.5    | Indenture      between the Company and Wells Fargo Bank, National Association, dated as      of April 30, 2007, incorporated by reference to Form 8-K of the Registrant      dated April 30, 2007, filed on May 3, 2007 (File No. 000-07258, Exhibit      4.1).                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 4.6    | Form      of 1.125% Senior Convertible Note due 2012 (included in Exhibit      4.5).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

| 10.1.1 | Second      Amended and Restated Pooling and Servicing Agreement, dated as of November      25, 1997, as amended on July 22, 1999, among Charming Shoppes Receivables      Corp., as Seller, Spirit of America, Inc., as Servicer, and First Union      National Bank as Trustee, incorporated by reference to Form 8-K of      Charming Shoppes Master Trust and Charming Shoppes Receivables Corp.,      dated July 22, 1999 (File No. 333-71757, Exhibit No.  4.1).                                                                                             |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.1.2 | Fourth      Amendment, dated as of August 5, 2004, to Second Amended and Restated      Pooling and Servicing Agreement, dated as of November 25, 1997, as amended      on July 22, 1999 and on May 8, 2001, among Charming Shoppes Receivables      Corp., as Seller, Spirit of America, Inc., as Servicer, and Wachovia Bank,      National Association (formerly known as First Union National Bank) as      Trustee, incorporated by reference to Form 10-Q of the Registrant for the      quarter ended July 31, 2004 (File No. 000-07258, Exhibit      10.4). |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

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Table of Contents

| 10.1.3  | Amendment,      dated as of March 18, 2005, to Second Amended and Restated Pooling and      Servicing Agreement, dated as of November 25, 1997, as amended on July 22,      1999, May 8, 2001, and August 5, 2004, among Charming Shoppes Receivables      Corp., as Seller, Spirit of America, Inc., as Servicer, and Wachovia Bank,      National Association, as Trustee, incorporated by reference to Form 10-K      of the Registrant for the fiscal year ended January 29, 2005 (File No.      000-07258, Exhibit 10.1.3).                                                                                                    |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.1.4  | Amendment      dated as of October 17, 2007 to Second Amended and Restated Pooling and      Servicing Agreement dated as of November 25, 1997 and heretofore amended      among Charming Shoppes Receivables Corp. (“CSRC”), Spirit of America, Inc.      (“SOAI”), and U.S. Bank National Association, as Trustee (“Trustee”),      incorporated by reference to Form 8-K of the Registrant dated October 17,      2007, filed on October 22, 2007 (File No. 000-07258, Exhibit      10.1).                                                                                                    |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.1.5  | Series      1999-1 Supplement, dated as of July 22, 1999, to Second Amended and      Restated Pooling and Service Agreement, dated as of November 25, 1997, as      amended on July 22, 1999, among Charming Shoppes Receivables Corp., as      Seller, Spirit of America, Inc., as Servicer, and First Union National      Bank, as Trustee, for $150,000,000 Charming Shoppes Master Trust      Asset-Backed Certificates Series 1999-1, incorporated by reference to Form      8-K of Charming Shoppes Master Trust and Charming Shoppes Receivables      Corp., dated July 22, 1999 (File No. 333-71757, Exhibit No.      4.2). |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.1.6  | Receivables      Purchase Agreement, dated as of May 28, 1999, among Charming Shoppes      Seller, Inc. as Seller, Spirit of America, Inc., as Servicer, Clipper      Receivables Corporation, as Purchaser, State Street Capital Corporation,      as Administrator, and State Street Bank & Trust Company, as      Relationship Bank, incorporated by reference to Form 10-K of the      Registrant for the fiscal year ended February 2, 2002 (File No. 000-07258,      Exhibit 10.1.4).                                                                                                                                     |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.1.7  | Series      1999-2 Supplement, dated as of May 28, 1999, to Second Amended and      Restated Pooling and Service Agreement, dated as of November 25, 1997, as      amended on July 22, 1999, among Charming Shoppes Receivables Corp., as      Seller, Spirit of America, Inc., as Servicer, and First Union National      Bank, as Trustee, for $55,750,000 Charming Shoppes Master Trust      Asset-Backed Certificates Series 1999-2, incorporated by reference to Form      10-K of the Registrant for the fiscal year ended January 29, 2000 (File      No. 000-07258, Exhibit 10.1.23).                                       |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.1.8  | Letter Agreement, dated as of March 13, 2009      to Certificate Purchase Agreement, dated as of May 28, 1999 (as amended),      among Charming Shoppes Receivables Corp., as Seller and Class B Purchaser,      Spirit of America, Inc. as Servicer, Clipper Receivables Company, LLC as      Class A Purchaser, and State Street Global Markets, LLC, as Administrator      for the Class A Purchaser.                                                                                                                                                                                                                            |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.1.9  | Series      2000-VFC Supplement, dated as of November 9, 2000, to Second Amended and      Restated Pooling and Service Agreement, dated as of November 25, 1997,      among Charming Shoppes Receivables Corp., as Seller, Spirit of America,      Inc., as Servicer, and First Union National Bank, as Trustee, on behalf of      the Series 2000-VFC Certificateholders, for up to $60,122,700 Charming      Shoppes Master Trust Series 2000-VFC, incorporated by reference to Form      10-K of the Registrant for the fiscal year ended February 3, 2001 (File      No. 000-07258, Exhibit 10.1.16).                           |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.1.10 | Certificate      Purchase Agreement, dated as of November 9, 2000, among Charming Shoppes      Receivables Corp. as Seller and as the Class B Purchaser, Spirit of      America, Inc. as Servicer, Monte Rosa Capital Corporation as the Conduit      Purchaser, and ING Baring (U.S.) Capital Markets LLC as Administrator for      the Conduit Purchaser, incorporated by reference to Form 10-K of the      Registrant for the fiscal year ended February 3, 2001 (File No. 000-07258,      Exhibit 10.1.17).                                                                                                                    |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |

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| 10.1.11 | Purchase      Agreement dated as of March 14, 2005 between Citibank USA, N.A., Spirit of      America National Bank and Catherines, Inc., incorporated by reference to      Form 8-K of the Registrant dated March 18, 2005, filed on March 22, 2005      (File No. 000-07258, Exhibit 99).                                                                                                                                                                                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.12 | Credit      Card Processing Agreement, among World Financial Network National Bank,      Lane Bryant, Inc., and Sierra Nevada Factoring, Inc., dated as of January      31, 1996, incorporated by reference to Form 10-K of the Registrant for the      fiscal year ended February 2, 2002 (File No. 000-07258, Exhibit      10.1.9).                                                                                                                                                                                                                                                                                     |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.13 | Amendment      to Credit Card Processing Agreement, among World Financial Network      National Bank, Lane Bryant, Inc., and Sierra Nevada Factoring, Inc., dated      as of January 28, 2005, incorporated by reference to Form 10-K of the      Registrant for the fiscal year ended January 29, 2005 (File No. 000-07258,      Exhibit 10.1.12).                                                                                                                                                                                                                                                                       |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.14 | Purchase      Agreement dated as of October 31, 2007 between World Financial Network      National Bank, Spirit of America National Bank, Lane Bryant, Inc., Sierra      Nevada Factoring, Inc., and Charming Shoppes Outlet Stores, LLC,      incorporated by reference to Form 8-K of the Registrant dated October 31,      2007, filed on November 5, 2007 (File No. 000-07258, Exhibit      99.1).                                                                                                                                                                                                                    |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.15 | Purchase      and Sale Agreement, among Spirit of America National Bank, as Seller, and      Charming Shoppes Receivables Corp., as Purchaser, dated as of November 25,      1997, incorporated by reference to Form S-1/A of Charming Shoppes      Receivables Corp. (File No. 333-71757, Exhibit10.1(a)).                                                                                                                                                                                                                                                                                                               |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.16 | First      Amendment to Purchase and Sale Agreement, among Spirit of America National      Bank, as Seller, and Charming Shoppes Receivables Corp., as Purchaser,      dated as of July 22, 1999, incorporated by reference to Form 8-K of      Charming Shoppes Receivables Corp. (File No. 333-71757, Exhibit      10.1).                                                                                                                                                                                                                                                                                               |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.17 | Series      2002-1 Supplement, dated as of November 20, 2002, to Second Amended and      Restated Pooling and Service Agreement, dated as of November 25, 1997, as      amended on July 22, 1999 and on May 8, 2001, among Charming Shoppes      Receivables Corp., as Seller, Spirit of America, Inc., as Servicer, and      Wachovia Bank, National Association, as Trustee, for $100,000,000 Charming      Shoppes Master Trust Asset-Backed Certificates Series 2002-1, incorporated      by reference to Form 10-Q of the Registrant for the quarter ended November      2, 2002 (File No. 000-07258, Exhibit 10.1). |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.18 | Charming      Shoppes Master Trust $63,500,000 Fixed Rate Class A Asset Backed      Certificates, Series 2002-1 and $16,500,000 Fixed Rate Class B Asset      Backed Certificates, Series 2002-1 Certificate Purchase Agreement, dated      as of November 22, 2002, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended November 2, 2002 (File No. 000-07258,      Exhibit 10.2).                                                                                                                                                                                                        |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.19 | Certificate      Purchase Agreement, dated as of November 22, 2002, among Wachovia Bank,      National Association, as Trustee, Charming Shoppes Receivables Corp., as      Seller, Spirit of America, Inc., as Servicer, and The Class C Holders      described therein, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended November 2, 2002 (File No. 000-07258,      Exhibit 10.3).                                                                                                                                                                                                   |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.20 | Certificate      Purchase Agreement, dated as of November 22, 2002, among Wachovia Bank,      National Association, as Trustee, Charming Shoppes Receivables Corp., as      Seller, Spirit of America, Inc., as Servicer, and The Class D Holders      described therein, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended November 2, 2002 (File No. 000-07258,      Exhibit 10.4).                                                                                                                                                                                                   |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |

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| 10.1.21 | $14,000,000      Promissory Note, dated October 2002, between White Marsh Distribution,      LLC, as Borrower, and General Electric Capital Business Asset Funding      Corporation, as Payee and Holder, incorporated by reference to Form 10-Q      of the Registrant for the quarter ended November 2, 2002 (File No.      000-07258, Exhibit 10.5).                                                                                                                                                                                                                                                                                                                                                  |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.1.22 | Commercial      Deed of Trust, Security Agreement, Assignment of Leases and Rents, and      Fixture Filing, made as of October 2002, among the Grantor, White Marsh      Distribution, LLC, as Borrower, in favor of James M. Smith, as Trustee,      for the benefit of the Beneficiary, General Electric Capital Business      Asset Funding Corporation, as Lender, incorporated by reference to Form      10-Q of the Registrant for the quarter ended November 2, 2002 (File No.      000-07258, Exhibit 10.6).                                                                                                                                                                                     |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.1.23 | Certificate      Purchase Agreement, dated as of January 21, 2004, among Charming Shoppes      Receivables Corp., as Seller and as the Class B Purchaser, Spirit of      America, Inc., as Servicer, Sheffield Receivables Corporation, as the      Conduit Purchaser, and Barclay’s Bank PLC as Administrator for the Conduit      Purchaser, incorporated by reference to Form 10-K of the Registrant for      the fiscal year ended January 31, 2004 (File No. 000-07258, Exhibit      10.1.17).                                                                                                                                                                                                |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.1.24 | Series      2004-VFC Supplement, dated as of January 21, 2004, to Second Amended and      Restated Pooling and Service Agreement, dated as of November 25, 1997 and      amended as of July 22, 1999 and as of May 8, 2001, among Charming Shoppes      Receivables Corp., as Seller, Spirit of America, Inc., as Servicer, and      Wachovia Bank, National Association, as Trustee on behalf of the Series      2004-VFC Certificateholders, for up to $132,000,000 Charming Shoppes      Master Trust Asset-Backed Certificates Series 2004-VFC, incorporated by      reference to Form 10-K of the Registrant for the fiscal year ended January      31, 2004 (File No. 000-07258, Exhibit 10.1.18). |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.1.25 | Series      2004-1 Supplement, dated as of August 5, 2004, to Second Amended and      Restated Pooling and Service Agreement, dated as of November 25, 1997 (as      amended on July 22, 1999, on May 8, 2001 and on August 5, 2004), among      Charming Shoppes Receivables Corp., as Seller, Spirit of America, Inc., as      Servicer, and Wachovia Bank, National Association, as Trustee, on behalf      of the Series 2004-1 Certificateholders, for $180,000,000 Charming Shoppes      Master Trust Series 2004-1, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended July 31, 2004 (File No. 000-07258,      Exhibit 10.5).                                    |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.1.26 | Second      Amendment dated as of November 14, 2008 to Series 2004-VFC Supplement,      dated as of January 21, 2004, among Charming Shoppes Receivables Corp, as      Seller, Spirit of America, Inc., as Servicer, and U.S. Bank National      Association, as successor in interest to Wachovia Bank, National      Association, as Trustee, and consented to by Barclays Bank, PLC.,      incorporated by reference to Form 10-Q of the Registrant for the quarter      ended November 1, 2008 (File No. 000-07258, Exhibit  10.23).                                                                                                                                                                 |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.1.27 | Certificate      Purchase Agreement, dated as of July 21, 2004, among Charming Shoppes      Receivables Corp., Fashion Service Corp., Spirit of America, Inc., and      Barclay’s Capital Inc. (as representative of the Initial Purchasers),      incorporated by reference to Form 10-Q of the Registrant for the quarter      ended July 31, 2004 (File No. 000-07258, Exhibit 10.6).                                                                                                                                                                                                                                                                                                           |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.1.28 | Certificate      Purchase Agreement, dated as of August 5, 2004, among Wachovia Bank,      National Association as Trustee, Charming Shoppes Receivables Corp. as      Seller, Spirit of America, Inc. as Servicer, and Clipper Receivables      Company LLC as Initial Class C Holder, incorporated by reference to Form      10-Q of the Registrant for the quarter ended July 31, 2004 (File No.      000-07258, Exhibit 10.7).                                                                                                                                                                                                                                                                       |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |

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| 10.1.29 | Mortgage,      Assignment of Leases and Rents and Security Agreement, dated as of October      6, 2004, between FB Distro Distribution Center, LLC, as Mortgagor, and      BankAtlantic Commercial Mortgage Capital, LLC, as Mortgagee, incorporated      by reference to Form 10-Q of the Registrant for the quarter ended October      30, 2004 (File No. 000-07258, Exhibit 10.9).                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.1.30 | $13,000,000      Mortgage Note, dated October 6, 2004, between FB Distro Distribution      Center, LLC, as Maker, and BankAtlantic Commercial Mortgage Capital, LLC,      as Payee, incorporated by reference to Form 10-Q of the Registrant for the      quarter ended October 30, 2004 (File No. 000-07258, Exhibit      10.10).                                                                                                                                                                              |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.1.31 | Guaranty,      executed as of October 6, 2004, by Charming Shoppes, Inc., as Guarantor,      for the benefit of BankAtlantic Commercial Mortgage Capital, LLC, as      Lender, incorporated by reference to Form 10-Q of the Registrant for the      quarter ended October 30, 2004 (File No. 000-07258, Exhibit      10.11).                                                                                                                                                                                   |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.1.32 | Hazardous      Substances Indemnity Agreement, dated October 6, 2004, by FB Distro      Distribution Center, LLC and by Charming Shoppes, Inc., jointly and      severally as Indemnitors, in favor of BankAtlantic Commercial Mortgage      Capital, LLC, as Holder, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended October 30, 2004 (File No. 000-07258,      Exhibit 10.12).                                                                                            |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.1.33 | Amended      and Restated Class D Certificate Purchase Agreement, dated as of August      25, 2004, among Wachovia Bank, National Association as Trustee, Charming      Shoppes Receivables Corp. as Seller and as Initial Class D-1 Holder,      Spirit of America, Inc. as Servicer, and Clipper Receivables Company LLC,      as the Class D-1 Holder, incorporated by reference to Form 8-K of the      Registrant dated August 24, 2004, filed on August 27, 2004 (File No.      000-07258, Exhibit 99.1). |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.1.34 | Amended      and Restated Certificate Purchase Agreement, dated as of November 22, 2004      and Amended and Restated as of November 18, 2004, among Wachovia Bank,      National Association as Trustee, Charming Shoppes Receivables Corp. as      Seller, Spirit of America, Inc. as Servicer, and the Class D-2      Certificateholders Described Herein, incorporated by reference to Form      10-Q of the Registrant for the quarter ended October 30, 2004 (File No.      000-07258, Exhibit 10.13).    |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.1.35 | Series      2007-1 Supplement dated as of October 17, 2007 to the Second Amended and      Restated Pooling and Servicing Agreement dated as of November 25, 1997 and      heretofore amended among CSRC, SOAI and Trustee, incorporated by reference      to Form 8-K of the Registrant dated October 17, 2007, filed on October 22,      2007 (File No. 000-07258, Exhibit 10.2).                                                                                                                              |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.1.36 | Class      A, Class M, and Class B Certificate Purchase Agreement dated as of October      10, 2007 among CSRC, SOAI, Barclays Capital, Inc. and Fashion Service      Corp, incorporated by reference to Form 8-K of the Registrant dated      October 17, 2007, filed on October 22, 2007 (File No. 000-07258, Exhibit      10.3).                                                                                                                                                                             |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.1.37 | Class      C Purchase Agreement dated as of October 17, 2007 among CSRC, SOAI,      Trustee, Galleon Capital, LLC, and Clipper Receivables Company, LLC,      incorporated by reference to Form 8-K of the Registrant dated October 17,      2007, filed on October 22, 2007 (File No. 000-07258, Exhibit      10.4).                                                                                                                                                                                           |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.1.38 | Amended      and Restated Receivables Purchase Agreement, dated as of June 2, 2005,      among Catalog Receivables LLC as Seller, Spirit of America, Inc. as      Servicer, Sheffield Receivables Corporation as Purchaser, and Barclays      Bank PLC as Administrator, incorporated by reference to Form 10-K of the      Registrant for the fiscal year ended January 28, 2006 (File No. 000-07258,      Exhibit 10.1.31).                                                                                   |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |

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| 10.1.39 | Amendment,      dated as of May 15, 2008, to Amended and Restated Receivables Purchase      Agreement dated as of June 2, 2005, by and among Catalog Receivables LLC      as seller; Spirit of America, Inc. as servicer; Sheffield Receivables      Corporation as Purchaser; and Barclays Bank PLC as administrator for the      Purchaser, incorporated by reference to Form 10-Q of the Registrant for      the quarter ended May 3, 2008 (File No. 000-07258, Exhibit      10.10).                                                                     |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.40 | Letter      Agreement, dated as of May 16, 2008, to Certificate Purchase Agreement,      dated as of May 28, 1999, as amended, among Charming Shoppes Receivables      Corp., as Seller and Class B Purchaser; Spirit of America, Inc., as      Servicer; Clipper Receivables Company, LLC, as Class A Purchaser; and      State Street Global Markets, LLC, as Administrator for the Class A      Purchaser, incorporated by reference to Form 10-Q of the Registrant for      the quarter ended May 3, 2008 (File No. 000-07258, Exhibit      10.11).     |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.41 | Letter      Agreement, dated as of June 20, 2008, to Certificate Purchase Agreement,      dated as of May 28, 1999, as amended, among Charming Shoppes Receivables      Corp., as Seller and Class B Purchaser; Spirit of America, Inc., as      Servicer; Clipper Receivables Company, LLC, as Class A Purchaser; and      State Street Global Markets, LLC, as Administrator for the Class A      Purchaser, incorporated by reference to Form 10-Q of the Registrant for      the quarter ended August 2, 2008 (File No. 000-07258, Exhibit      10.12). |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.42 | Registration      Rights Agreement among the Company and Banc of America Securities LLC and      J.P. Morgan Securities Inc., dated as of April 30, 2007, incorporated by      reference to Form 8-K of the Registrant dated April 30, 2007, filed on May      3, 2007 (File No. 000-07258, Exhibit 10.1).                                                                                                                                                                                                                                                  |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.43 | Convertible      Bond Hedge Transaction Confirmation entered into by and between the      Company and Bank of America, N.A., dated April 24, 2007, incorporated by      reference to Form 8-K of the Registrant dated April 25, 2007, filed on May      1, 2007 (File No. 000-07258, Exhibit 10.1).                                                                                                                                                                                                                                                         |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.44 | Convertible      Bond Hedge Transaction Confirmation entered into by and between the      Company and JPMorgan Chase Bank, National Association, dated April 24,      2007, incorporated by reference to Form 8-K of the Registrant dated April      25, 2007, filed on May 1, 2007 (File No. 000-07258, Exhibit      10.2).                                                                                                                                                                                                                                |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.45 | Convertible      Bond Hedge Transaction Confirmation entered into by and between the      Company and Wachovia Bank, National Association, dated April 24, 2007,      incorporated by reference to Form 8-K of the Registrant dated April 25,      2007, filed on May 1, 2007 (File No. 000-07258, Exhibit    10.3).                                                                                                                                                                                                                                        |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.46 | Issuer      Warrant Transaction Confirmation entered into by and between the Company      and Bank of America, N.A., dated April 24, 2007, incorporated by reference      to Form 8-K of the Registrant dated April 25, 2007, filed on May 1, 2007      (File No. 000-07258, Exhibit 10.4).                                                                                                                                                                                                                                                                 |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.47 | Issuer      Warrant Transaction Confirmation entered into by and between the Company      and JPMorgan Chase Bank, National Association, dated April 24, 2007,      incorporated by reference to Form 8-K of the Registrant dated April 25,      2007, filed on May 1, 2007 (File No. 000-07258, Exhibit    10.5).                                                                                                                                                                                                                                          |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.48 | Issuer      Warrant Transaction Confirmation entered into by and between the Company      and Wachovia Bank, National Association, dated April 24, 2007,      incorporated by reference to Form 8-K of the Registrant dated April 25,      2007, filed on May 1, 2007 (File No. 000-07258, Exhibit    10.6).                                                                                                                                                                                                                                                |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.49 | Settlement      Agreement by and between Charming Shoppes, Inc. and The Charming Shoppes      Full Value Committee dated as of May 8, 2008, incorporated by reference to      Form 8-K of the Registrant dated May 8, 2008, filed on May 9, 2008 (File      No. 000-07258, Exhibit 10.1).                                                                                                                                                                                                                                                                   |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |

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| 10.1.50                                                                                                                 | Stock      Purchase Agreement dated as of August 25, 2008 by and between Crosstown      Traders, Inc., Norm Thompson Outfitters, Inc., Charming Shoppes, Inc. and      the other persons listed on the signature page thereto, incorporated by      reference to Form 8-K of the Registrant dated August 25, 2008, filed on      August 28, 2008 (File No. 000-07258, Exhibit 10.1).* |
|-------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.51                                                                                                                 | Purchase      Agreement dated as of August 25, 2008 between Spirit of America National      Bank and World Financial Network National Bank, incorporated by reference      to Form 8-K of the Registrant dated August 25, 2008, filed on August 28,      2008 (File No. 000-07258, Exhibit 10.2).*                                                                                    |
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.52                                                                                                                 | Private      Label Credit Card Plan Agreement dated as of August 25, 2008 by and      between Arizona Mail Order Company, Inc. and Spirit of America National      Bank, incorporated by reference to Form 8-K of the Registrant dated August      25, 2008, filed on August 28, 2008 (File No. 000-07258, Exhibit      10.3).*                                                       |
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.53                                                                                                                 | Amendment      No. 1 to Stock Purchase Agreement dated as of September 18, 2008 by and      among Crosstown Traders, Inc. and Norm Thompson Outfitters, Inc.,      incorporated by reference to Form 8-K of the Registrant dated September      18, 2008, filed on September 19, 2008 (File No. 000-07258, Exhibit      10.2).*                                                       |
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.54                                                                                                                 | Transition      Services Agreement dated as of September 18, 2008 by and between Charming      Shoppes of Delaware, Inc. and Arizona Mail Order Company, incorporated by      reference to Form 8-K of the Registrant dated September 18, 2008, filed on      September 19, 2008 (File No. 000-07258, Exhibit 10.3).*                                                                 |
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| *  Schedules      and attachments have been omitted but will be provided to the Commission      upon request. |

| 10.2.1 | The      1988 Key Employee Stock Option Plan of Charming Shoppes, Inc., as amended      and restated January 25, 2006, incorporated by reference to Form 10-K of      the Registrant for the fiscal year ended January 28, 2006 (File No.      000-07258, Exhibit 10.2.1).              |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                    |
| 10.2.2 | Form      of Charming Shoppes, Inc. 1988 Key Employee Stock Option Plan Key Employee      Stock Option Agreement, incorporated by reference to Form 10-K of the      Registrant for the fiscal year ended January 28, 2006 (File No. 000-07258,      Exhibit 10.2.2).                   |
|   |                                                                                                                                                                                                                                                                                    |
| 10.2.3 | The      Charming Shoppes, Inc. Non-Employee Directors Compensation Program, As      Amended and Restated, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended July 31, 1999 (File No. 000-07258,      Exhibit 10.1).                                   |
|   |                                                                                                                                                                                                                                                                                    |
| 10.2.4 | The      Charming Shoppes, Inc. Non-Employee Directors Compensation Program, As      Amended and Restated at June 27, 2002, incorporated by reference to Form      10-K of the Registrant for the fiscal year ended February 1, 2003 (File      No. 000-07258, Exhibit 10.2.6).         |
|   |                                                                                                                                                                                                                                                                                    |
| 10.2.5 | The      Charming Shoppes, Inc. 2003 Non-Employee Directors Compensation Plan,      Amended and Restated Effective January 1, 2005, incorporated by reference      to Form 10-K of the Registrant for the fiscal year ended February 3, 2007      (File No. 000-07258, Exhibit 10.2.5). |
|   |                                                                                                                                                                                                                                                                                    |
| 10.2.6 | Charming      Shoppes, Inc. 2003 Non-Employee Directors Compensation Plan, amended and      restated effective June 21, 2007, incorporated by reference to Form 10-Q      of the Registrant for the quarter ended August 4, 2007 (File No.      000-07258, Exhibit 10.8).               |

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|    |                                                                                                                                                                                                                                                                                           |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.2.7  | Charming      Shoppes, Inc. 2003 Non-Employee Directors Compensation Plan, Amended and      Restated, Effective May 7, 2008, incorporated by reference to Form 10-Q of      the Registrant for the quarter ended May 3, 2008 (File No. 000-07258,      Exhibit 10.12).                         |
|    |                                                                                                                                                                                                                                                                                           |
| 10.2.8  | The      Charming Shoppes, Inc. Non-Employee Directors Compensation Program Stock      Option Agreement, incorporated by reference to Form 10-Q of the Registrant      for the quarter ended July 31, 1999 (File No. 000-07258, Exhibit      10.2).                                            |
|    |                                                                                                                                                                                                                                                                                           |
| 10.2.9  | The      Charming Shoppes, Inc. Non-Employee Directors Compensation Program      Restricted Stock Agreement, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended July 31, 1999 (File No. 000-07258,      Exhibit 10.3).                                        |
|    |                                                                                                                                                                                                                                                                                           |
| 10.2.10 | Form      of Charming Shoppes, Inc. 2003 Non-Employee Directors Compensation Plan      Stock Option Agreement, incorporated by reference to Form 8-K of the      Registrant dated June 23, 2005, filed on June 29, 2005 (File No.      000-07258, Exhibit 10.1).                               |
|    |                                                                                                                                                                                                                                                                                           |
| 10.2.11 | Form      of Charming Shoppes, Inc. 2003 Non-Employee Directors Compensation Plan      Restricted Share Units Agreement, incorporated by reference to Form 8-K of      the Registrant dated June 23, 2005, filed on June 29, 2005 (File No.      000-07258, Exhibit 10.2).                     |
|    |                                                                                                                                                                                                                                                                                           |
| 10.2.12 | The      1993 Employees’ Stock Incentive Plan of Charming Shoppes, Inc.,      incorporated by reference to Form 10-K of the Registrant for the fiscal      year ended January 29, 1994 (File No. 000-07258, Exhibit      10.2.10).                                                       |
|    |                                                                                                                                                                                                                                                                                           |
| 10.2.13 | The      Charming Shoppes, Inc. 1993 Employees’ Stock Incentive Plan Restricted      Stock Agreement, dated as of February 11, 2002, incorporated by reference      to Form 10-K of the Registrant for the fiscal year ended February 2, 2002      (File No. 000-07258, Exhibit 10.2.8). |
|    |                                                                                                                                                                                                                                                                                           |
| 10.2.14 | The      Charming Shoppes, Inc. 1993 Employees’ Stock Incentive Plan Stock Option      Agreement (regular vesting schedule), incorporated by reference to Form      10-K of the Registrant for the fiscal year ended February 2, 2002 (File      No. 000-07258, Exhibit 10.2.20).        |
|    |                                                                                                                                                                                                                                                                                           |
| 10.2.15 | The      Charming Shoppes, Inc. 1993 Employees’ Stock Incentive Plan Stock Option      Agreement (accelerated vesting schedule), incorporated by reference to      Form 10-K of the Registrant for the fiscal year ended February 2, 2002      (File No. 000-07258, Exhibit 10.2.21).    |
|    |                                                                                                                                                                                                                                                                                           |
| 10.2.16 | The      Charming Shoppes, Inc. 1993 Employees’ Stock Incentive Plan      Performance-Accelerated Stock Option Agreement, incorporated by reference      to Form 10-K of the Registrant for the fiscal year ended February 2, 2002      (File No. 000-07258, Exhibit 10.2.22).           |
|    |                                                                                                                                                                                                                                                                                           |
| 10.2.17 | The      Charming Shoppes, Inc. Employee Stock Purchase Plan, as amended,      incorporated by reference to Form 10-K of the Registrant for the fiscal      year ended February 3, 1996 (File No. 000-07258, Exhibit      10.2.10).                                                            |
|    |                                                                                                                                                                                                                                                                                           |
| 10.2.18 | The      Charming Shoppes Inc. 1999 Associates’ Stock Incentive Plan, incorporated      by reference to Form 10-K of the Registrant for the fiscal year ended      January 30, 1999 (File No. 000-07258, Exhibit 10.2.24).                                                               |
|    |                                                                                                                                                                                                                                                                                           |

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Table of Contents

| 10.2.19 | Charming      Shoppes, Inc. 1999 Associates’ Stock Incentive Plan Stock Option      Agreement, incorporated by reference to Form 10-K of the Registrant for      the fiscal year ended January 30, 1999 (File No. 000-07258, Exhibit      10.2.25).                                                              |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.20 | The      Charming Shoppes, Inc. Amended and Restated 2000 Associates’ Stock      Incentive Plan, incorporated by reference to Form 10-K of the Registrant      for the fiscal year ended February 3, 2001 (File No. 000-07258, Exhibit      10.2.29).                                                            |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.21 | The      Charming Shoppes, Inc. Amended and Restated 2000 Associates’ Stock      Incentive Plan Stock Option Agreement (regular vesting schedule),      incorporated by reference to Form 10-K of the Registrant for the fiscal      year ended February 2, 2002 (File No. 000-07258, Exhibit      10.2.23).     |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.22 | The      Charming Shoppes, Inc. Amended and Restated 2000 Associates’ Stock      Incentive Plan Stock Option Agreement (accelerated vesting schedule),      incorporated by reference to Form 10-K of the Registrant for the fiscal      year ended February 2, 2002 (File No. 000-07258, Exhibit      10.2.24). |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.23 | The      Charming Shoppes, Inc. Amended and Restated 2000 Associates’ Stock      Incentive Plan Restricted Stock Agreement, incorporated by reference to      Form 10-K of the Registrant for the fiscal year ended February 2, 2002      (File No. 000-07258, Exhibit 10.2.25).                                 |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.24 | 2004 Stock Award and Incentive Plan, as      Amended and Restated December 1, 2008.                                                                                                                                                                                                                                    |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.25 | Form of 2004 Stock Award and Incentive Plan      Restricted Stock Units Agreement.                                                                                                                                                                                                                                     |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.26 | Form      of Time-Based Stock Appreciation Rights Agreement for Executive Officers,      incorporated by reference to Form 8-K of the Registrant dated March 23,      2009, filed on March 27, 2009 (File No. 000-07258, Exhibit      10.1).                                                                           |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.27 | Charming Shoppes, Inc. Compliance Rules Under      Section 409A of the Internal Revenue Code (Including Global Amendment to      Certain Outstanding Restricted Stock Units and Performance Shares) 2008      Revisions.                                                                                               |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.28 | Charming      Shoppes, Inc. 2004 Stock Award and Incentive Plan Stock Option Agreement,      incorporated by reference to Form 10-Q of the Registrant for the quarter      ended October 30, 2004 (File No. 000-07258, Exhibit  10.15).                                                                                |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.29 | Form      of Charming Shoppes, Inc. 2004 Stock Award and Incentive Plan Restricted      Stock Agreement – Section 16 Officers, incorporated by reference to Form      8-K of the Registrant dated February 7, 2005, filed on February 11, 2005      (File No. 000-07258, Exhibit 99.2).                          |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.30 | Form      of Charming Shoppes, Inc. 2004 Stock Award and Incentive Plan Performance      Share Agreement, incorporated by reference to Form 8-K of the Registrant      dated February 7, 2005, filed on February 11, 2005 (File No. 000-07258,      Exhibit 99.4).                                                     |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.31 | Form      of Charming Shoppes, Inc. 2004 Stock Award and Incentive Plan Restricted      Stock Units Agreement, incorporated by reference to Form 8-K of the      Registrant dated March 15, 2006, filed on March 20, 2006 (File No.      000-07258, Exhibit 99.1).                                                     |
|    |                                                                                                                                                                                                                                                                                                                   |

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Table of Contents

| 10.2.32 | Charming      Shoppes, Inc. 2004 Stock Award and Incentive Plan Restricted Stock      Agreement – Associates Other Than Section 16 Officers, incorporated by      reference to Form 10-Q of the Registrant for the quarter ended October 30,      2004 (File No. 000-07258, Exhibit 10.17). |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.33 | Form      of Time-Based Restricted Stock Units Agreement for Dorrit J. Bern,      incorporated by reference to Form 8-K of the Registrant dated April 1,      2008, filed on April 7, 2008 (File No. 000-07258, Exhibit      10.1).                                                               |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.34 | Form      of Time-Based Stock Appreciation Rights Agreement for Dorrit J. Bern,      incorporated by reference to Form 8-K of the Registrant dated April 1,      2008, filed on April 7, 2008 (File No. 000-07258, Exhibit      10.2).                                                            |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.35 | Form      of Time-Based Restricted Stock Units Agreement for Other Executive      Officers, incorporated by reference to Form 8-K of the Registrant dated      April 1, 2008, filed on April 7, 2008 (File No. 000-07258, Exhibit      10.3).                                                     |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.36 | Form      of Time-Based Stock Appreciation Rights Agreement for Other Executive      Officers, incorporated by reference to Form 8-K of the Registrant dated      April 1, 2008, filed on April 7, 2008 (File No. 000-07258, Exhibit      10.4).                                                  |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.37 | Form      of Performance-Based Restricted Stock Units Agreement for Dorrit J. Bern,      incorporated by reference to Form 8-K of the Registrant dated April 1,      2008, filed on April 7, 2008 (File No. 000-07258, Exhibit      10.5).                                                        |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.38 | Form      of Performance-Based Stock Appreciation Rights Agreement for Dorrit J.      Bern, incorporated by reference to Form 8-K of the Registrant dated April      1, 2008, filed on April 7, 2008 (File No. 000-07258, Exhibit      10.6).                                                     |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.39 | Form      of Additional Time-Based Restricted Stock Units Agreement for Other      Executive Officers, incorporated by reference to Form 8-K of the      Registrant dated April 1, 2008, filed on April 7, 2008 (File No.      000-07258, Exhibit 10.7).                                          |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.40 | Form      of Additional Time-Based Stock Appreciation Rights Agreement for Other      Executive Officers, incorporated by reference to Form 8-K of the      Registrant dated April 1, 2008, filed on April 7, 2008 (File No.      000-07258, Exhibit 10.8).                                       |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.41 | Form      of Performance-Based EBITDA Stock Appreciation Rights Agreement,      incorporated by reference to Form 8-K of the Registrant dated April 1,      2008, filed on April 7, 2008 (File No. 000-07258, Exhibit      10.9).                                                                 |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.42 | Form      of Stock Appreciation Rights Agreement for Alan Rosskamm, incorporated by      reference to Form 10-Q of the Registrant for the quarter ended August 2,      2008.  (File No. 000-07258, Exhibit 10.10).                                                                      |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.43 | Charming      Shoppes, Inc. Supplemental Retirement Plan, effective February 1, 2003,      incorporated by reference to Form 10-Q of the Registrant for the quarter      ended May 3, 2003 (File No. 000-07258, Exhibit 10.1).                                                                    |
|    |                                                                                                                                                                                                                                                                                              |

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Table of Contents

| 10.2.44 | Amendment      2007-1, Charming Shoppes, Inc. Supplemental Benefit Trust Agreement, dated      as of January 25, 2007, to the Charming Shoppes, Inc. Supplemental      Retirement Plan, incorporated by reference to Form 10-K of the Registrant      for the fiscal year ended February 3, 2007 (File No. 000-07258, Exhibit      10.2.29).                                                                                       |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.45 | Amendment      2008-1 to Charming Shoppes, Inc. Supplemental Executive Retirement Plan,      incorporated by reference to Form 8-K of the Registrant dated December 17,      2008, filed on December 19, 2008 (File No. 000-07258, Exhibit      99.1).                                                                                                                                                                             |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.46 | 2003      Incentive Compensation Plan, incorporated by reference to Appendix A of      the Registrant’s Proxy Statement Pursuant to Section 14 of the Securities      Exchange Act of 1934, filed on May 23, 2008 (File No.      000-07258).                                                                                                                                                                                 |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.47 | Form      of Charming Shoppes, Inc. 2003 Incentive Compensation Plan Inducement      Grant Stock Appreciation Rights Agreement, incorporated by reference to      Form 10-Q of the Registrant for the quarter ended November 1, 2008 (File      No. 000-07258, Exhibit 10.24).                                                                                                                                                     |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.48 | Charming      Shoppes Variable Deferred Compensation Plan For Executives, Amended and      Restated Effective January 1, 2005, incorporated by reference to Form 8-K      of the Registrant dated December 13, 2005, filed December 16, 2005 (File      No. 000-07258, Exhibit 99.1).                                                                                                                                              |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.49 | Amendment      2007-1, Charming Shoppes, Inc. Supplemental Benefit Trust Agreement, dated      as of January 25, 2007, to the Charming Shoppes Variable Deferred      Compensation Plan for Executives and the Charming Shoppes Non-Employee      Director Compensation Plan, incorporated by reference to Form 10-K of the      Registrant for the fiscal year ended February 3, 2007 (File No. 000-07258,      Exhibit 10.2.32). |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.50 | Form      of Bonus Agreement by and between Charming Shoppes, Inc. and the Executive      Officer named in the Agreement, incorporated by reference to Form 10-Q of      the Registrant for the quarter ended October 30, 2004 (File No. 000-07258,      Exhibit 10.14).                                                                                                                                                           |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.51 | Charming      Shoppes, Inc. Annual Incentive Program As Amended and Restated January 19,      2005, incorporated by reference to Form 8-K of the Registrant dated      January 19, 2005, filed January 25, 2005 (File No. 000-07258, Exhibit      99.1).                                                                                                                                                                           |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.52 | Charming      Shoppes, Inc. Annual Incentive Program As Amended and Restated February 2,      2006, incorporated by reference to Form 8-K of the Registrant dated      February 2, 2006, filed February 8, 2006 (File No. 000-07258, Exhibit      99.1).                                                                                                                                                                           |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.53 | Charming      Shoppes, Inc. Annual Incentive Program As Amended and Restated January 24,      2007, incorporated by reference to Form 10-K of the Registrant for the      fiscal year ended February 3, 2007 (File No. 000-07258, Exhibit      10.2.36).                                                                                                                                                                           |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.54 | Charming      Shoppes, Inc. Annual Incentive Program – Fiscal 2009, as amended and      restated March 27, 2008, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended May 3, 2008 (File No. 000-07258, Exhibit      10.13).                                                                                                                                                                   |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |

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Table of Contents

| 10.2.55 | Employment      Agreement, dated as of January 1, 2005, by and between Charming Shoppes,      Inc. and Dorrit J. Bern, incorporated by reference to Form 8-K of the      Registrant dated January 3, 2005, filed on January 4, 2005 (File No.      000-07258, Exhibit 99.1)                                                                                                                                                                                                 |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.56 | Employment      Agreement, dated as of December 31, 2007, by and between Charming Shoppes,      Inc. and Dorrit J. Bern, incorporated by reference to Form 8-K of the      Registrant dated December 31, 2007, filed on January 2, 2008 (File No.      000-07258, Exhibit 99.1)                                                                                                                                                                                             |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.57 | Separation      Agreement, dated July 8, 2008, by and between Charming Shoppes, Inc. and      Dorrit J. Bern, incorporated by reference to Form 10-Q of the Registrant      for the quarter ended August 2, 2008 (File No. 000-07258, Exhibit      10.16).                                                                                                                                                                                                                  |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.58 | The      Charming Shoppes, Inc. 1993 Employees’ Stock Incentive Plan Restricted      Stock Agreement, dated as of May 13, 2004, between Charming Shoppes, Inc.      and Dorrit J. Bern, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended July 31, 2004 (File No. 000-07258,      Exhibit 10.8).                                                                                                                                    |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.59 | Charming      Shoppes, Inc. 2004 Stock Award and Incentive Plan Restricted Stock      Agreement, dated as of January 3, 2005, between Charming Shoppes, Inc. and      Dorrit J. Bern, incorporated by reference to Form 10-K of the Registrant      for the fiscal year ended January 29, 2005 (File No. 000-07258, Exhibit      10.2.37).                                                                                                                                  |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.60 | Form      of Charming Shoppes, Inc. 2004 Stock Award and Incentive Plan Restricted      Stock Agreement between Charming Shoppes, Inc. and Dorrit J. Bern,      incorporated by reference to Form 8-K of the Registrant dated February 7,      2005, filed on February 11, 2005 (File No. 000-07258, Exhibit      99.1)                                                                                                                                                     |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.61 | Form      of Charming Shoppes, Inc. 2004 Stock Award and Incentive Plan Performance      Share Agreement between Charming Shoppes, Inc. and Dorrit J. Bern,      incorporated by reference to Form 8-K of the Registrant dated February 7,      2005, filed on February 11, 2005 (File No. 000-07258, Exhibit      99.3)                                                                                                                                                    |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.62 | Form      of Charming Shoppes, Inc. 2004 Stock Award and Incentive Plan Restricted      Stock Units Agreement between Charming Shoppes, Inc. and Dorrit J. Bern,      incorporated by reference to Form 8-K of the Registrant dated February 2,      2006, filed on February 8, 2006 (File No. 000-07258, Exhibit      99.2)                                                                                                                                                |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.63 | Form      of Charming Shoppes, Inc. 2004 Stock Award and Incentive Plan Performance      Share Agreement between Charming Shoppes, Inc. and Dorrit J. Bern,      incorporated by reference to Form 8-K of the Registrant dated February 2,      2006, filed on February 8, 2006 (File No. 000-07258, Exhibit      99.3)                                                                                                                                                     |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.64 | Forms      of Executive Severance Agreements by and between Charming Shoppes, Inc.,      the named executive officers in the company’s Proxy Statement for the      Annual Meeting held on June 15, 2000, and certain other executive officers      and officers of Charming Shoppes, Inc. and its subsidiaries, incorporated      by reference to Form 10-K of the Registrant for the fiscal year ended      January 29, 2000 (File No. 000-07258, Exhibit 10.2.33). |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.65 | Forms      of First Amendment, dated as of February 6, 2003, to Forms of Executive      Severance Agreements, dated July 15, 1999, by and between Charming      Shoppes, Inc., and the executive officers and officers named in the      Agreements, incorporated by reference to Form 10-K of the Registrant for      the fiscal year ended February 1, 2003 (File No. 000-07258, Exhibit      10.2.30).                                                                   |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |

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Table of Contents

| 10.2.66 | Form      of Second Amendment to Form of Executive Severance Agreement, dated July      15, 1999, as amended by First Amendment, dated as of February 6, 2003, by      and between Charming Shoppes, Inc. and the executive officers and officers      named in the agreements, incorporated by reference to Form 10-K of the      Registrant for the fiscal year ended February 2, 2008 (File No. 000-07258,      Exhibit 10.2.48).  |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.2.67 | Form      of Executive Severance Agreement, dated February 6, 2003, by and between      Charming Shoppes, Inc. and certain executive officers and officers of      Charming Shoppes, Inc. and its subsidiaries, incorporated by reference to      Form 10-K of the Registrant for the fiscal year ended February 1, 2003      (File No. 000-07258, Exhibit 10.2.31).                                                                  |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.2.68 | Form      of Severance Agreement, dated February 1, 2008, by and between Charming      Shoppes, Inc. and certain executive vice presidents named in the      agreements, incorporated by reference to Form 8-K of the Registrant dated      February 1, 2008, Filed on February 5, 2008 (File No. 000-07258, Exhibit      10.1).                                                                                                      |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.2.69 | Form      of Severance Agreement, dated February 1, 2008, by and between Charming      Shoppes, Inc. and certain senior vice presidents named in the agreements,      incorporated by reference to Form 8-K of the Registrant dated February 1,      2008, Filed on February 5, 2008 (File No. 000-07258, Exhibit      10.2).                                                                                                         |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.2.70 | Form      of Amendment, dated September 18, 2008, to the Severance Agreements      between certain executive vice presidents and the Company, including the      following named executive officers:  Eric M. Specter, Joseph M.      Baron and Colin D. Stern, incorporated by reference to Form 8-K of the      Registrant dated September 18, 2008, filed on September 24, 2008 (File No.      000-07258, Exhibit 10.1). |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                  |

| 14     | Charming Shoppes, Inc. Business Ethics and      Standards of Conduct Policy.                                                      |
|--------|-----------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                              |
| 21     | Subsidiaries of  Registrant.                                                                                                      |
|   |                                                                                                                              |
| 23     | Consent of independent registered public      accounting firm.                                                                    |
|   |                                                                                                                              |
| 31.1   | Certification by Principal Executive Officer      Pursuant to Section 302 of the Sarbanes-Oxley Act of    2002.                   |
|   |                                                                                                                              |
| 31.2   | Certification by Principal Financial Officer      Pursuant to Section 302 of the Sarbanes-Oxley Act of    2002.                   |
|   |                                                                                                                              |
| 32     | Certification Pursuant to 18 U.S.C. Section      1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of      2002. |

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Table of Contents

SIGNATURES

|                                 | CHARMING SHOPPES, INC.               |
|--------------------------------------|--------------------------------------|
|                                 | (Registrant)                         |
|                                 |                                 |
| Date:  March      30, 2009 | /S/ ALAN ROSSKAMM                    |
|                                 | Alan      Rosskamm                   |
|                                 | Chairman      of the Board           |
|                                 | Interim      Chief Executive Officer |

| /S/ ALAN ROSSKAMM                         | /S/ ERIC M. SPECTER           |
|-------------------------------------------|-------------------------------|
| Alan      Rosskamm                        | Eric      M. Specter          |
| Chairman      of the Board                | Executive      Vice President |
| Interim      Chief Executive Officer      | Chief      Financial Officer  |
| March      30, 2009                       | March      30, 2009           |
|                                      |                          |
| /S/ JOHN J. SULLIVAN                      | /S/ ARNAUD AJDLER             |
| John      J. Sullivan                     | Arnaud      Ajdler            |
| Vice      President, Corporate Controller | Director                      |
| Chief      Accounting Officer             | March      30, 2009           |
| March      30, 2009                       |                          |
|                                      |                          |
| /S/ MICHAEL C. APPEL                      | /S/ RICHARD W. BENNET,  III   |
| Michael      C. Appel                     | Richard      W. Bennet, III   |
| Director                                  | Director                      |
| March      30, 2009                       | March      30, 2009           |
|                                      |                          |
| /S/ YVONNE M. CURL                        | /S/ PAMELA DAVIES             |
| Yvonne      M. Curl                       | Pamela      Davies            |
| Director                                  | Director                      |
| March      30, 2009                       | March      30, 2009           |
|                                      |                          |
| /S/ MICHAEL GOLDSTEIN                     | /S/ CHARLES T. HOPKINS        |
| Michael      Goldstein                    | Charles      T. Hopkins       |
| Director                                  | Director                      |
| March      30, 2009                       | March      30, 2009           |
|                                      |                          |
| /S/ KATHERINE M. HUDSON                   | /S/ M. JEANNINE  STRANDJORD   |
| Katherine      M. Hudson                  | M.      Jeannine Strandjord   |
| Director                                  | Director                      |
| March      30, 2009                       | March      30,2009            |

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Table of Contents

Exhibit Index

| 2.1    | Covenant      Agreement, dated as of August 16, 2001, between Charming Shoppes, Inc. and      Limited Brands, Inc., incorporated by reference to Form 8-K of the      Registrant dated August 16, 2001, filed on August 31, 2001 (File No.      000-07258, Exhibit 2.3).                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| 2.2    | Master      Sublease, dated as of August 16, 2001, between Limited Brands, Inc. and      Lane Bryant, Inc., incorporated by reference to Form 8-K of the Registrant      dated August 16, 2001, filed on August 31, 2001 (File No. 000-07258,      Exhibit 2.4).                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| 2.3    | Stock      Purchase Agreement dated May 19, 2005 by and among Chestnut Acquisition      Sub, Inc., Crosstown Traders, Inc., the Securityholders of Crosstown      Traders, Inc. whose names are set forth on the signature pages thereto and      J.P. Morgan Partners (BHCA), L.P., as the Sellers’ Representative,      incorporated by reference to Form 8-K of the Registrant dated June 2,      2005, filed on June 8, 2005 (File No. 000-07258, Exhibit    2.1).                                                                                                                                                                                                                                                         |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| 3.1    | Restated      Articles of Incorporation, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended ended August 2, 2008 (File No. 000-07258,      Exhibit 3.1).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| 3.2    | By-Laws, as Amended and      Restated.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| 4.1    | Amended      and Restated Rights Agreement, dated as of February 1, 2001, between      Charming Shoppes, Inc. and American Stock Transfer & Trust Company, as      Rights Agent, incorporated by reference to Form 10-K of the Registrant for      the fiscal year ended February 3, 2001 (File No. 000-07258, Exhibit      4.1).                                                                                                                                                                                                                                                                                                                                                                                                |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| 4.2    | Registration      Agreement, dated as of August 16, 2001, between Charming Shoppes, Inc. and      Limited Brands, Inc., incorporated by reference to Form 8-K of the      Registrant dated August 16, 2001, filed on August 31, 2001 (File No.      000-07258, Exhibit 4.1).                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| 4.3    | Second      Amended and Restated Loan and Security Agreement, dated July 28, 2005, by      and among Charming Shoppes, Inc., Charming Shoppes of Delaware, Inc., CSI      Industries, Inc., FB Apparel, Inc., Catherines Stores Corporation, Lane      Bryant, Inc., and Crosstown Traders, Inc. as borrowers; a syndicate of      banks and other financial institutions as lenders, including Wachovia      Bank, National Association as agent for the lenders; and certain of the      Company’s subsidiaries as guarantors, incorporated by reference to Form      8-K of the Registrant dated July 28, 2005, filed on August 3, 2005 (File      No. 000-07258, Exhibit 10.1).                                            |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 4.4    | Amendment      No. 1, dated as of May 17, 2006, to Second Amended and Restated Loan and      Security Agreement, dated July 28, 2005, by and among Charming Shoppes,      Inc., Charming Shoppes of Delaware, Inc., CSI Industries, Inc., FB      Apparel, Inc., Catherines Stores Corporation, Lane Bryant, Inc., and      Crosstown Traders, Inc. as borrowers; a syndicate of banks and other      financial institutions as lenders, including Wachovia Bank, National      Association as agent for the lenders; and certain of the Company’s      subsidiaries as guarantors, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended July 29, 2006 (File No. 000-07258,      Exhibit 99.1). |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

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Table of Contents

| 4.5    | Indenture      between the Company and Wells Fargo Bank, National Association, dated as      of April 30, 2007, incorporated by reference to Form 8-K of the Registrant      dated April 30, 2007, filed on May 3, 2007 (File No. 000-07258, Exhibit      4.1).                                                                                                                                                                                                                                                                                                                                                                     |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 4.6    | Form      of 1.125% Senior Convertible Note due 2012 (included in Exhibit      4.5).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| 10.1.1 | Second      Amended and Restated Pooling and Servicing Agreement, dated as of November      25, 1997, as amended on July 22, 1999, among Charming Shoppes Receivables      Corp., as Seller, Spirit of America, Inc., as Servicer, and First Union      National Bank as Trustee, incorporated by reference to Form 8-K of      Charming Shoppes Master Trust and Charming Shoppes Receivables Corp.,      dated July 22, 1999 (File No. 333-71757, Exhibit No. 4.1).                                                                                                                                                               |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| 10.1.2 | Fourth      Amendment, dated as of August 5, 2004, to Second Amended and Restated      Pooling and Servicing Agreement, dated as of November 25, 1997, as amended      on July 22, 1999 and on May 8, 2001, among Charming Shoppes Receivables      Corp., as Seller, Spirit of America, Inc., as Servicer, and Wachovia Bank,      National Association (formerly known as First Union National Bank) as      Trustee, incorporated by reference to Form 10-Q of the Registrant for the      quarter ended July 31, 2004 (File No. 000-07258, Exhibit      10.4).                                                                  |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| 10.1.3 | Amendment,      dated as of March 18, 2005, to Second Amended and Restated Pooling and      Servicing Agreement, dated as of November 25, 1997, as amended on July 22,      1999, May 8, 2001, and August 5, 2004, among Charming Shoppes Receivables      Corp., as Seller, Spirit of America, Inc., as Servicer, and Wachovia Bank,      National Association, as Trustee, incorporated by reference to Form 10-K      of the Registrant for the fiscal year ended January 29, 2005 (File No.      000-07258, Exhibit 10.1.3).                                                                                                    |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| 10.1.4 | Amendment      dated as of October 17, 2007 to Second Amended and Restated Pooling and      Servicing Agreement dated as of November 25, 1997 and heretofore amended      among Charming Shoppes Receivables Corp. (“CSRC”), Spirit of America, Inc.      (“SOAI”), and U.S. Bank National Association, as Trustee (“Trustee”),      incorporated by reference to Form 8-K of the Registrant dated October 17,      2007, filed on October 22, 2007 (File No. 000-07258, Exhibit      10.1).                                                                                                    |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| 10.1.5 | Series      1999-1 Supplement, dated as of July 22, 1999, to Second Amended and      Restated Pooling and Service Agreement, dated as of November 25, 1997, as      amended on July 22, 1999, among Charming Shoppes Receivables Corp., as      Seller, Spirit of America, Inc., as Servicer, and First Union National      Bank, as Trustee, for $150,000,000 Charming Shoppes Master Trust      Asset-Backed Certificates Series 1999-1, incorporated by reference to Form      8-K of Charming Shoppes Master Trust and Charming Shoppes Receivables      Corp., dated July 22, 1999 (File No. 333-71757, Exhibit No.      4.2). |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |
| 10.1.6 | Receivables      Purchase Agreement, dated as of May 28, 1999, among Charming Shoppes      Seller, Inc. as Seller, Spirit of America, Inc., as Servicer, Clipper      Receivables Corporation, as Purchaser, State Street Capital Corporation,      as Administrator, and State Street Bank & Trust Company, as      Relationship Bank, incorporated by reference to Form 10-K of the      Registrant for the fiscal year ended February 2, 2002 (File No. 000-07258,      Exhibit 10.1.4).                                                                                                                                     |   |

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Table of Contents

| 10.1.7  | Series      1999-2 Supplement, dated as of May 28, 1999, to Second Amended and      Restated Pooling and Service Agreement, dated as of November 25, 1997, as      amended on July 22, 1999, among Charming Shoppes Receivables Corp., as      Seller, Spirit of America, Inc., as Servicer, and First Union National      Bank, as Trustee, for $55,750,000 Charming Shoppes Master Trust      Asset-Backed Certificates Series 1999-2, incorporated by reference to Form      10-K of the Registrant for the fiscal year ended January 29, 2000 (File      No. 000-07258, Exhibit 10.1.23).             |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.8  | Letter Agreement, dated as of March 13, 2009      to Certificate Purchase Agreement, dated as of May 28, 1999 (as amended),      among Charming Shoppes Receivables Corp., as Seller and Class B Purchaser,      Spirit of America, Inc. as Servicer, Clipper Receivables Company, LLC as      Class A Purchaser, and State Street Global Markets, LLC, as Administrator      for the Class A Purchaser.                                                                                                                                                                                                  |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.9  | Series      2000-VFC Supplement, dated as of November 9, 2000, to Second Amended and      Restated Pooling and Service Agreement, dated as of November 25, 1997,      among Charming Shoppes Receivables Corp., as Seller, Spirit of America,      Inc., as Servicer, and First Union National Bank, as Trustee, on behalf of      the Series 2000-VFC Certificateholders, for up to $60,122,700 Charming      Shoppes Master Trust Series 2000-VFC, incorporated by reference to Form      10-K of the Registrant for the fiscal year ended February 3, 2001 (File      No. 000-07258, Exhibit 10.1.16). |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.10 | Certificate      Purchase Agreement, dated as of November 9, 2000, among Charming Shoppes      Receivables Corp. as Seller and as the Class B Purchaser, Spirit of      America, Inc. as Servicer, Monte Rosa Capital Corporation as the Conduit      Purchaser, and ING Baring (U.S.) Capital Markets LLC as Administrator for      the Conduit Purchaser, incorporated by reference to Form 10-K of the      Registrant for the fiscal year ended February 3, 2001 (File No. 000-07258,      Exhibit 10.1.17).                                                                                          |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.11 | Purchase      Agreement dated as of March 14, 2005 between Citibank USA, N.A., Spirit of      America National Bank and Catherines, Inc., incorporated by reference to      Form 8-K of the Registrant dated March 18, 2005, filed on March 22, 2005      (File No. 000-07258, Exhibit 99).                                                                                                                                                                                                                                                                                                               |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.12 | Credit      Card Processing Agreement, among World Financial Network National Bank,      Lane Bryant, Inc., and Sierra Nevada Factoring, Inc., dated as of January      31, 1996, incorporated by reference to Form 10-K of the Registrant for the      fiscal year ended February 2, 2002 (File No. 000-07258, Exhibit      10.1.9).                                                                                                                                                                                                                                                                     |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.13 | Amendment      to Credit Card Processing Agreement, among World Financial Network      National Bank, Lane Bryant, Inc., and Sierra Nevada Factoring, Inc., dated      as of January 28, 2005, incorporated by reference to Form 10-K of the      Registrant for the fiscal year ended January 29, 2005 (File No. 000-07258,      Exhibit 10.1.12).                                                                                                                                                                                                                                                       |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.14 | Purchase      Agreement dated as of October 31, 2007 between World Financial Network      National Bank, Spirit of America National Bank, Lane Bryant, Inc., Sierra      Nevada Factoring, Inc., and Charming Shoppes Outlet Stores, LLC,      incorporated by reference to Form 8-K of the Registrant dated October 31,      2007, filed on November 5, 2007 (File No. 000-07258, Exhibit      99.1).                                                                                                                                                                                                    |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.1.15 | Purchase      and Sale Agreement, among Spirit of America National Bank, as Seller, and      Charming Shoppes Receivables Corp., as Purchaser, dated as of November 25,      1997, incorporated by reference to Form S-1/A of Charming Shoppes      Receivables Corp. (File No. 333-71757, Exhibit10.1(a)).                                                                                                                                                                                                                                                                                               |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |

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Table of Contents

| 10.1.16 | First      Amendment to Purchase and Sale Agreement, among Spirit of America National      Bank, as Seller, and Charming Shoppes Receivables Corp., as Purchaser,      dated as of July 22, 1999, incorporated by reference to Form 8-K of      Charming Shoppes Receivables Corp. (File No. 333-71757, Exhibit      10.1).                                                                                                                                                                                                                                                                                                                                                                             |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.1.17 | Series      2002-1 Supplement, dated as of November 20, 2002, to Second Amended and      Restated Pooling and Service Agreement, dated as of November 25, 1997, as      amended on July 22, 1999 and on May 8, 2001, among Charming Shoppes      Receivables Corp., as Seller, Spirit of America, Inc., as Servicer, and      Wachovia Bank, National Association, as Trustee, for $100,000,000 Charming      Shoppes Master Trust Asset-Backed Certificates Series 2002-1, incorporated      by reference to Form 10-Q of the Registrant for the quarter ended November      2, 2002 (File No. 000-07258, Exhibit 10.1).                                                                               |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.1.18 | Charming      Shoppes Master Trust $63,500,000 Fixed Rate Class A Asset Backed      Certificates, Series 2002-1 and $16,500,000 Fixed Rate Class B Asset      Backed Certificates, Series 2002-1 Certificate Purchase Agreement, dated      as of November 22, 2002, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended November 2, 2002 (File No. 000-07258,      Exhibit 10.2).                                                                                                                                                                                                                                                                                      |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.1.19 | Certificate      Purchase Agreement, dated as of November 22, 2002, among Wachovia Bank,      National Association, as Trustee, Charming Shoppes Receivables Corp., as      Seller, Spirit of America, Inc., as Servicer, and The Class C Holders      described therein, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended November 2, 2002 (File No. 000-07258,      Exhibit 10.3).                                                                                                                                                                                                                                                                                 |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.1.20 | Certificate      Purchase Agreement, dated as of November 22, 2002, among Wachovia Bank,      National Association, as Trustee, Charming Shoppes Receivables Corp., as      Seller, Spirit of America, Inc., as Servicer, and The Class D Holders      described therein, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended November 2, 2002 (File No. 000-07258,      Exhibit 10.4).                                                                                                                                                                                                                                                                                 |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.1.21 | $14,000,000      Promissory Note, dated October 2002, between White Marsh Distribution,      LLC, as Borrower, and General Electric Capital Business Asset Funding      Corporation, as Payee and Holder, incorporated by reference to Form 10-Q      of the Registrant for the quarter ended November 2, 2002 (File No.      000-07258, Exhibit 10.5).                                                                                                                                                                                                                                                                                                                                                 |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.1.22 | Commercial      Deed of Trust, Security Agreement, Assignment of Leases and Rents, and      Fixture Filing, made as of October 2002, among the Grantor, White Marsh      Distribution, LLC, as Borrower, in favor of James M. Smith, as Trustee,      for the benefit of the Beneficiary, General Electric Capital Business      Asset Funding Corporation, as Lender, incorporated by reference to Form      10-Q of the Registrant for the quarter ended November 2, 2002 (File No.      000-07258, Exhibit 10.6).                                                                                                                                                                                    |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.1.23 | Certificate      Purchase Agreement, dated as of January 21, 2004, among Charming Shoppes      Receivables Corp., as Seller and as the Class B Purchaser, Spirit of      America, Inc., as Servicer, Sheffield Receivables Corporation, as the      Conduit Purchaser, and Barclay’s Bank PLC as Administrator for the Conduit      Purchaser, incorporated by reference to Form 10-K of the Registrant for      the fiscal year ended January 31, 2004 (File No. 000-07258, Exhibit      10.1.17).                                                                                                                                                                                               |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.1.24 | Series      2004-VFC Supplement, dated as of January 21, 2004, to Second Amended and      Restated Pooling and Service Agreement, dated as of November 25, 1997 and      amended as of July 22, 1999 and as of May 8, 2001, among Charming Shoppes      Receivables Corp., as Seller, Spirit of America, Inc., as Servicer, and      Wachovia Bank, National Association, as Trustee on behalf of the Series      2004-VFC Certificateholders, for up to $132,000,000 Charming Shoppes      Master Trust Asset-Backed Certificates Series 2004-VFC, incorporated by      reference to Form 10-K of the Registrant for the fiscal year ended January      31, 2004 (File No. 000-07258, Exhibit10.1.18). |

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| 10.1.25 | Series      2004-1 Supplement, dated as of August 5, 2004, to Second Amended and      Restated Pooling and Service Agreement, dated as of November 25, 1997 (as      amended on July 22, 1999, on May 8, 2001 and on August 5, 2004), among      Charming Shoppes Receivables Corp., as Seller, Spirit of America, Inc., as      Servicer, and Wachovia Bank, National Association, as Trustee, on behalf      of the Series 2004-1 Certificateholders, for $180,000,000 Charming Shoppes      Master Trust Series 2004-1, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended July 31, 2004 (File No. 000-07258,      Exhibit 10.5). |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.26 | Second      Amendment dated as of November 14, 2008 to Series 2004-VFC Supplement,      dated as of January 21, 2004, among Charming Shoppes Receivables Corp, as      Seller, Spirit of America, Inc., as Servicer, and U.S. Bank National      Association, as successor in interest to Wachovia Bank, National      Association, as Trustee, and consented to by Barclays Bank, PLC.,      incorporated by reference to Form 10-Q of the Registrant for the quarter      ended November 1, 2008 (File No. 000-07258, Exhibit  10.23).                                                                                                                              |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.27 | Certificate      Purchase Agreement, dated as of July 21, 2004, among Charming Shoppes      Receivables Corp., Fashion Service Corp., Spirit of America, Inc., and      Barclay’s Capital Inc. (as representative of the Initial Purchasers),      incorporated by reference to Form 10-Q of the Registrant for the quarter      ended July 31, 2004 (File No. 000-07258, Exhibit 10.6).                                                                                                                                                                                                                                                                        |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.28 | Certificate      Purchase Agreement, dated as of August 5, 2004, among Wachovia Bank,      National Association as Trustee, Charming Shoppes Receivables Corp. as      Seller, Spirit of America, Inc. as Servicer, and Clipper Receivables      Company LLC as Initial Class C Holder, incorporated by reference to Form      10-Q of the Registrant for the quarter ended July 31, 2004 (File No.      000-07258, Exhibit 10.7).                                                                                                                                                                                                                                    |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.29 | Mortgage,      Assignment of Leases and Rents and Security Agreement, dated as of October      6, 2004, between FB Distro Distribution Center, LLC, as Mortgagor, and      BankAtlantic Commercial Mortgage Capital, LLC, as Mortgagee, incorporated      by reference to Form 10-Q of the Registrant for the quarter ended October      30, 2004 (File No. 000-07258, Exhibit 10.9).                                                                                                                                                                                                                                                                                 |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.30 | $13,000,000      Mortgage Note, dated October 6, 2004, between FB Distro Distribution      Center, LLC, as Maker, and BankAtlantic Commercial Mortgage Capital, LLC,      as Payee, incorporated by reference to Form 10-Q of the Registrant for the      quarter ended October 30, 2004 (File No. 000-07258, Exhibit      10.10).                                                                                                                                                                                                                                                                                                                                    |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.31 | Guaranty,      executed as of October 6, 2004, by Charming Shoppes, Inc., as Guarantor,      for the benefit of BankAtlantic Commercial Mortgage Capital, LLC, as      Lender, incorporated by reference to Form 10-Q of the Registrant for the      quarter ended October 30, 2004 (File No. 000-07258, Exhibit      10.11).                                                                                                                                                                                                                                                                                                                                         |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.32 | Hazardous      Substances Indemnity Agreement, dated October 6, 2004, by FB Distro      Distribution Center, LLC and by Charming Shoppes, Inc., jointly and      severally as Indemnitors, in favor of BankAtlantic Commercial Mortgage      Capital, LLC, as Holder, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended October 30, 2004 (File No. 000-07258,      Exhibit 10.12).                                                                                                                                                                                                                                                  |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.33 | Amended      and Restated Class D Certificate Purchase Agreement, dated as of August      25, 2004, among Wachovia Bank, National Association as Trustee, Charming      Shoppes Receivables Corp. as Seller and as Initial Class D-1 Holder,      Spirit of America, Inc. as Servicer, and Clipper Receivables Company LLC,      as the Class D-1 Holder, incorporated by reference to Form 8-K of the      Registrant dated August 24, 2004, filed on August 27, 2004 (File No.      000-07258, Exhibit 99.1).                                                                                                                                                       |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |

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| 10.1.34 | Amended      and Restated Certificate Purchase Agreement, dated as of November 22, 2004      and Amended and Restated as of November 18, 2004, among Wachovia Bank,      National Association as Trustee, Charming Shoppes Receivables Corp. as      Seller, Spirit of America, Inc. as Servicer, and the Class D-2      Certificateholders Described Herein, incorporated by reference to Form      10-Q of the Registrant for the quarter ended October 30, 2004 (File No.      000-07258, Exhibit 10.13).                                                |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.35 | Series      2007-1 Supplement dated as of October 17, 2007 to the Second Amended and      Restated Pooling and Servicing Agreement dated as of November 25, 1997 and      heretofore amended among CSRC, SOAI and Trustee, incorporated by reference      to Form 8-K of the Registrant dated October 17, 2007, filed on October 22,      2007 (File No. 000-07258, Exhibit 10.2).                                                                                                                                                                          |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.36 | Class      A, Class M, and Class B Certificate Purchase Agreement dated as of October      10, 2007 among CSRC, SOAI, Barclays Capital, Inc. and Fashion Service      Corp, incorporated by reference to Form 8-K of the Registrant dated      October 17, 2007, filed on October 22, 2007 (File No. 000-07258, Exhibit      10.3).                                                                                                                                                                                                                         |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.37 | Class      C Purchase Agreement dated as of October 17, 2007 among CSRC, SOAI,      Trustee, Galleon Capital, LLC, and Clipper Receivables Company, LLC,      incorporated by reference to Form 8-K of the Registrant dated October 17,      2007, filed on October 22, 2007 (File No. 000-07258, Exhibit      10.4).                                                                                                                                                                                                                                       |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.38 | Amended      and Restated Receivables Purchase Agreement, dated as of June 2, 2005,      among Catalog Receivables LLC as Seller, Spirit of America, Inc. as      Servicer, Sheffield Receivables Corporation as Purchaser, and Barclays      Bank PLC as Administrator, incorporated by reference to Form 10-K of the      Registrant for the fiscal year ended January 28, 2006 (File No. 000-07258,      Exhibit 10.1.31).                                                                                                                               |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.39 | Amendment,      dated as of May 15, 2008, to Amended and Restated Receivables Purchase      Agreement dated as of June 2, 2005, by and among Catalog Receivables LLC      as seller; Spirit of America, Inc. as servicer; Sheffield Receivables      Corporation as Purchaser; and Barclays Bank PLC as administrator for the      Purchaser, incorporated by reference to Form 10-Q of the Registrant for      the quarter ended May 3, 2008 (File No. 000-07258, Exhibit      10.10).                                                                     |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.40 | Letter      Agreement, dated as of May 16, 2008, to Certificate Purchase Agreement,      dated as of May 28, 1999, as amended, among Charming Shoppes Receivables      Corp., as Seller and Class B Purchaser; Spirit of America, Inc., as      Servicer; Clipper Receivables Company, LLC, as Class A Purchaser; and      State Street Global Markets, LLC, as Administrator for the Class A      Purchaser, incorporated by reference to Form 10-Q of the Registrant for      the quarter ended May 3, 2008 (File No. 000-07258, Exhibit      10.11).     |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.41 | Letter      Agreement, dated as of June 20, 2008, to Certificate Purchase Agreement,      dated as of May 28, 1999, as amended, among Charming Shoppes Receivables      Corp., as Seller and Class B Purchaser; Spirit of America, Inc., as      Servicer; Clipper Receivables Company, LLC, as Class A Purchaser; and      State Street Global Markets, LLC, as Administrator for the Class A      Purchaser, incorporated by reference to Form 10-Q of the Registrant for      the quarter ended August 2, 2008 (File No. 000-07258, Exhibit      10.12). |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.42 | Registration      Rights Agreement among the Company and Banc of America Securities LLC and      J.P. Morgan Securities Inc., dated as of April 30, 2007, incorporated by      reference to Form 8-K of the Registrant dated April 30, 2007, filed on May      3, 2007 (File No. 000-07258, Exhibit 10.1).                                                                                                                                                                                                                                                  |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.1.43 | Convertible      Bond Hedge Transaction Confirmation entered into by and between the      Company and Bank of America, N.A., dated April 24, 2007, incorporated by      reference to Form 8-K of the Registrant dated April 25, 2007, filed on May      1, 2007 (File No. 000-07258, Exhibit10.1).                                                                                                                                                                                                                                                          |

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| 10.1.44                                                                                                                 | Convertible      Bond Hedge Transaction Confirmation entered into by and between the      Company and JPMorgan Chase Bank, National Association, dated April 24,      2007, incorporated by reference to Form 8-K of the Registrant dated April      25, 2007, filed on May 1, 2007 (File No. 000-07258, Exhibit      10.2).                                                          |
|-------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.45                                                                                                                 | Convertible      Bond Hedge Transaction Confirmation entered into by and between the      Company and Wachovia Bank, National Association, dated April 24, 2007,      incorporated by reference to Form 8-K of the Registrant dated April 25,      2007, filed on May 1, 2007 (File No. 000-07258, Exhibit    10.3).                                                                  |
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.46                                                                                                                 | Issuer      Warrant Transaction Confirmation entered into by and between the Company      and Bank of America, N.A., dated April 24, 2007, incorporated by reference      to Form 8-K of the Registrant dated April 25, 2007, filed on May 1, 2007      (File No. 000-07258, Exhibit 10.4).                                                                                           |
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.47                                                                                                                 | Issuer      Warrant Transaction Confirmation entered into by and between the Company      and JPMorgan Chase Bank, National Association, dated April 24, 2007,      incorporated by reference to Form 8-K of the Registrant dated April 25,      2007, filed on May 1, 2007 (File No. 000-07258, Exhibit    10.5).                                                                    |
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.48                                                                                                                 | Issuer      Warrant Transaction Confirmation entered into by and between the Company      and Wachovia Bank, National Association, dated April 24, 2007,      incorporated by reference to Form 8-K of the Registrant dated April 25,      2007, filed on May 1, 2007 (File No. 000-07258, Exhibit    10.6).                                                                          |
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.49                                                                                                                 | Settlement      Agreement by and between Charming Shoppes, Inc. and The Charming Shoppes      Full Value Committee dated as of May 8, 2008, incorporated by reference to      Form 8-K of the Registrant dated May 8, 2008, filed on May 9, 2008 (File      No. 000-07258, Exhibit 10.1).                                                                                             |
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.50                                                                                                                 | Stock      Purchase Agreement dated as of August 25, 2008 by and between Crosstown      Traders, Inc., Norm Thompson Outfitters, Inc., Charming Shoppes, Inc. and      the other persons listed on the signature page thereto, incorporated by      reference to Form 8-K of the Registrant dated August 25, 2008, filed on      August 28, 2008 (File No. 000-07258, Exhibit 10.1).* |
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.51                                                                                                                 | Purchase      Agreement dated as of August 25, 2008 between Spirit of America National      Bank and World Financial Network National Bank, incorporated by reference      to Form 8-K of the Registrant dated August 25, 2008, filed on August 28,      2008 (File No. 000-07258, Exhibit 10.2).*                                                                                    |
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.52                                                                                                                 | Private      Label Credit Card Plan Agreement dated as of August 25, 2008 by and      between Arizona Mail Order Company, Inc. and Spirit of America National      Bank, incorporated by reference to Form 8-K of the Registrant dated August      25, 2008, filed on August 28, 2008 (File No. 000-07258, Exhibit      10.3).*                                                       |
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.53                                                                                                                 | Amendment      No. 1 to Stock Purchase Agreement dated as of September 18, 2008 by and      among Crosstown Traders, Inc. and Norm Thompson Outfitters, Inc.,      incorporated by reference to Form 8-K of the Registrant dated September      18, 2008, filed on September 19, 2008 (File No. 000-07258, Exhibit      10.2).*                                                       |
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1.54                                                                                                                 | Transition      Services Agreement dated as of September 18, 2008 by and between Charming      Shoppes of Delaware, Inc. and Arizona Mail Order Company, incorporated by      reference to Form 8-K of the Registrant dated September 18, 2008, filed on      September 19, 2008 (File No. 000-07258, Exhibit 10.3).*                                                                 |
|                                                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                  |
| *  Schedules      and attachments have been omitted but will be provided to the Commission      upon request. |

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Table of Contents

| 10.2.1  | The      1988 Key Employee Stock Option Plan of Charming Shoppes, Inc., as amended      and restated January 25, 2006, incorporated by reference to Form 10-K of      the Registrant for the fiscal year ended January 28, 2006 (File No.      000-07258, Exhibit 10.2.1).              |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                    |
| 10.2.2  | Form      of Charming Shoppes, Inc. 1988 Key Employee Stock Option Plan Key Employee      Stock Option Agreement, incorporated by reference to Form 10-K of the      Registrant for the fiscal year ended January 28, 2006 (File No. 000-07258,      Exhibit 10.2.2).                   |
|    |                                                                                                                                                                                                                                                                                    |
| 10.2.3  | The      Charming Shoppes, Inc. Non-Employee Directors Compensation Program, As      Amended and Restated, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended July 31, 1999 (File No. 000-07258,      Exhibit 10.1).                                   |
|    |                                                                                                                                                                                                                                                                                    |
| 10.2.4  | The      Charming Shoppes, Inc. Non-Employee Directors Compensation Program, As      Amended and Restated at June 27, 2002, incorporated by reference to Form      10-K of the Registrant for the fiscal year ended February 1, 2003 (File      No. 000-07258, Exhibit 10.2.6).         |
|    |                                                                                                                                                                                                                                                                                    |
| 10.2.5  | The      Charming Shoppes, Inc. 2003 Non-Employee Directors Compensation Plan,      Amended and Restated Effective January 1, 2005, incorporated by reference      to Form 10-K of the Registrant for the fiscal year ended February 3, 2007      (File No. 000-07258, Exhibit 10.2.5). |
|    |                                                                                                                                                                                                                                                                                    |
| 10.2.6  | Charming      Shoppes, Inc. 2003 Non-Employee Directors Compensation Plan, amended and      restated effective June 21, 2007, incorporated by reference to Form 10-Q      of the Registrant for the quarter ended August 4, 2007 (File No.      000-07258, Exhibit 10.8).               |
|    |                                                                                                                                                                                                                                                                                    |
| 10.2.7  | Charming      Shoppes, Inc. 2003 Non-Employee Directors Compensation Plan, Amended and      Restated, Effective May 7, 2008, incorporated by reference to Form 10-Q of      the Registrant for the quarter ended May 3, 2008 (File No. 000-07258,      Exhibit 10.12).                  |
|    |                                                                                                                                                                                                                                                                                    |
| 10.2.8  | The      Charming Shoppes, Inc. Non-Employee Directors Compensation Program Stock      Option Agreement, incorporated by reference to Form 10-Q of the Registrant      for the quarter ended July 31, 1999 (File No. 000-07258, Exhibit      10.2).                                     |
|    |                                                                                                                                                                                                                                                                                    |
| 10.2.9  | The      Charming Shoppes, Inc. Non-Employee Directors Compensation Program      Restricted Stock Agreement, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended July 31, 1999 (File No. 000-07258,      Exhibit 10.3).                                 |
|    |                                                                                                                                                                                                                                                                                    |
| 10.2.10 | Form      of Charming Shoppes, Inc. 2003 Non-Employee Directors Compensation Plan      Stock Option Agreement, incorporated by reference to Form 8-K of the      Registrant dated June 23, 2005, filed on June 29, 2005 (File No.      000-07258, Exhibit 10.1).                        |
|    |                                                                                                                                                                                                                                                                                    |
| 10.2.11 | Form      of Charming Shoppes, Inc. 2003 Non-Employee Directors Compensation Plan      Restricted Share Units Agreement, incorporated by reference to Form 8-K of      the Registrant dated June 23, 2005, filed on June 29, 2005 (File No.      000-07258, Exhibit 10.2).              |
|    |                                                                                                                                                                                                                                                                                    |
| 10.2.12 | The      1993 Employees’ Stock Incentive Plan of Charming Shoppes, Inc.,      incorporated by reference to Form 10-K of the Registrant for the fiscal      year ended January 29, 1994 (File No. 000-07258, Exhibit      10.2.10).                                                |
|    |                                                                                                                                                                                                                                                                                    |

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Table of Contents

| 10.2.13 | The      Charming Shoppes, Inc. 1993 Employees’ Stock Incentive Plan Restricted      Stock Agreement, dated as of February 11, 2002, incorporated by reference      to Form 10-K of the Registrant for the fiscal year ended February 2, 2002      (File No. 000-07258, Exhibit 10.2.8).                         |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.14 | The      Charming Shoppes, Inc. 1993 Employees’ Stock Incentive Plan Stock Option      Agreement (regular vesting schedule), incorporated by reference to Form      10-K of the Registrant for the fiscal year ended February 2, 2002 (File      No. 000-07258, Exhibit 10.2.20).                                |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.15 | The      Charming Shoppes, Inc. 1993 Employees’ Stock Incentive Plan Stock Option      Agreement (accelerated vesting schedule), incorporated by reference to      Form 10-K of the Registrant for the fiscal year ended February 2, 2002      (File No. 000-07258, Exhibit 10.2.21).                            |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.16 | The      Charming Shoppes, Inc. 1993 Employees’ Stock Incentive Plan      Performance-Accelerated Stock Option Agreement, incorporated by reference      to Form 10-K of the Registrant for the fiscal year ended February 2, 2002      (File No. 000-07258, Exhibit 10.2.22).                                   |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.17 | The      Charming Shoppes, Inc. Employee Stock Purchase Plan, as amended,      incorporated by reference to Form 10-K of the Registrant for the fiscal      year ended February 3, 1996 (File No. 000-07258, Exhibit      10.2.10).                                                                                    |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.18 | The      Charming Shoppes Inc. 1999 Associates’ Stock Incentive Plan, incorporated      by reference to Form 10-K of the Registrant for the fiscal year ended      January 30, 1999 (File No. 000-07258, Exhibit 10.2.24).                                                                                       |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.19 | Charming      Shoppes, Inc. 1999 Associates’ Stock Incentive Plan Stock Option      Agreement, incorporated by reference to Form 10-K of the Registrant for      the fiscal year ended January 30, 1999 (File No. 000-07258, Exhibit      10.2.25).                                                              |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.20 | The      Charming Shoppes, Inc. Amended and Restated 2000 Associates’ Stock      Incentive Plan, incorporated by reference to Form 10-K of the Registrant      for the fiscal year ended February 3, 2001 (File No. 000-07258, Exhibit      10.2.29).                                                            |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.21 | The      Charming Shoppes, Inc. Amended and Restated 2000 Associates’ Stock      Incentive Plan Stock Option Agreement (regular vesting schedule),      incorporated by reference to Form 10-K of the Registrant for the fiscal      year ended February 2, 2002 (File No. 000-07258, Exhibit      10.2.23).     |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.22 | The      Charming Shoppes, Inc. Amended and Restated 2000 Associates’ Stock      Incentive Plan Stock Option Agreement (accelerated vesting schedule),      incorporated by reference to Form 10-K of the Registrant for the fiscal      year ended February 2, 2002 (File No. 000-07258, Exhibit      10.2.24). |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.23 | The      Charming Shoppes, Inc. Amended and Restated 2000 Associates’ Stock      Incentive Plan Restricted Stock Agreement, incorporated by reference to      Form 10-K of the Registrant for the fiscal year ended February 2, 2002      (File No. 000-07258, Exhibit 10.2.25).                                 |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.24 | 2004 Stock Award and Incentive Plan, as      Amended and Restated December 1, 2008.                                                                                                                                                                                                                                    |
|    |                                                                                                                                                                                                                                                                                                                   |
| 10.2.25 | Form of 2004 Stock Award and Incentive Plan      Restricted Stock Units Agreement.                                                                                                                                                                                                                                     |
|    |                                                                                                                                                                                                                                                                                                                   |

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Table of Contents

|    |                                                                                                                                                                                                                                                                                              |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.2.26 | Form      of Time-Based Stock Appreciation Rights Agreement for Executive Officers,      incorporated by reference to Form 8-K of the Registrant dated March 23,      2009, filed on March 27, 2009 (File No. 000-07258, Exhibit      10.1).                                                      |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.27 | Charming Shoppes, Inc. Compliance Rules Under      Section 409A of the Internal Revenue Code (Including Global Amendment to      Certain Outstanding Restricted Stock Units and Performance Shares) 2008      Revisions.                                                                          |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.28 | Charming      Shoppes, Inc. 2004 Stock Award and Incentive Plan Stock Option Agreement,      incorporated by reference to Form 10-Q of the Registrant for the quarter      ended October 30, 2004 (File No. 000-07258, Exhibit  10.15).                                                           |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.29 | Form      of Charming Shoppes, Inc. 2004 Stock Award and Incentive Plan Restricted      Stock Agreement – Section 16 Officers, incorporated by reference to Form      8-K of the Registrant dated February 7, 2005, filed on February 11, 2005      (File No. 000-07258, Exhibit 99.2).     |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.30 | Form      of Charming Shoppes, Inc. 2004 Stock Award and Incentive Plan Performance      Share Agreement, incorporated by reference to Form 8-K of the Registrant      dated February 7, 2005, filed on February 11, 2005 (File No. 000-07258,      Exhibit 99.4).                                |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.31 | Form      of Charming Shoppes, Inc. 2004 Stock Award and Incentive Plan Restricted      Stock Units Agreement, incorporated by reference to Form 8-K of the      Registrant dated March 15, 2006, filed on March 20, 2006 (File No.      000-07258, Exhibit 99.1).                                |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.32 | Charming      Shoppes, Inc. 2004 Stock Award and Incentive Plan Restricted Stock      Agreement – Associates Other Than Section 16 Officers, incorporated by      reference to Form 10-Q of the Registrant for the quarter ended October 30,      2004 (File No. 000-07258, Exhibit 10.17). |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.33 | Form      of Time-Based Restricted Stock Units Agreement for Dorrit J. Bern,      incorporated by reference to Form 8-K of the Registrant dated April 1,      2008, filed on April 7, 2008 (File No. 000-07258, Exhibit      10.1).                                                               |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.34 | Form      of Time-Based Stock Appreciation Rights Agreement for Dorrit J. Bern,      incorporated by reference to Form 8-K of the Registrant dated April 1,      2008, filed on April 7, 2008 (File No. 000-07258, Exhibit      10.2).                                                            |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.35 | Form      of Time-Based Restricted Stock Units Agreement for Other Executive      Officers, incorporated by reference to Form 8-K of the Registrant dated      April 1, 2008, filed on April 7, 2008 (File No. 000-07258, Exhibit      10.3).                                                     |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.36 | Form      of Time-Based Stock Appreciation Rights Agreement for Other Executive      Officers, incorporated by reference to Form 8-K of the Registrant dated      April 1, 2008, filed on April 7, 2008 (File No. 000-07258, Exhibit      10.4).                                                  |
|    |                                                                                                                                                                                                                                                                                              |
| 10.2.37 | Form      of Performance-Based Restricted Stock Units Agreement for Dorrit J. Bern,      incorporated by reference to Form 8-K of the Registrant dated April 1,      2008, filed on April 7, 2008 (File No. 000-07258, Exhibit      10.5).                                                        |
|    |                                                                                                                                                                                                                                                                                              |

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Table of Contents

| 10.2.38 | Form      of Performance-Based Stock Appreciation Rights Agreement for Dorrit J.      Bern, incorporated by reference to Form 8-K of the Registrant dated April      1, 2008, filed on April 7, 2008 (File No. 000-07258, Exhibit      10.6).                                                                                                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.39 | Form      of Additional Time-Based Restricted Stock Units Agreement for Other      Executive Officers, incorporated by reference to Form 8-K of the      Registrant dated April 1, 2008, filed on April 7, 2008 (File No.      000-07258, Exhibit 10.7).                                                                                                                                                                           |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.40 | Form      of Additional Time-Based Stock Appreciation Rights Agreement for Other      Executive Officers, incorporated by reference to Form 8-K of the      Registrant dated April 1, 2008, filed on April 7, 2008 (File No.      000-07258, Exhibit 10.8).                                                                                                                                                                        |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.41 | Form      of Performance-Based EBITDA Stock Appreciation Rights Agreement,      incorporated by reference to Form 8-K of the Registrant dated April 1,      2008, filed on April 7, 2008 (File No. 000-07258, Exhibit      10.9).                                                                                                                                                                                                  |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.42 | Form      of Stock Appreciation Rights Agreement for Alan Rosskamm, incorporated by      reference to Form 10-Q of the Registrant for the quarter ended August 2,      2008.  (File No. 000-07258, Exhibit 10.10).                                                                                                                                                                                                       |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.43 | Charming      Shoppes, Inc. Supplemental Retirement Plan, effective February 1, 2003,      incorporated by reference to Form 10-Q of the Registrant for the quarter      ended May 3, 2003 (File No. 000-07258, Exhibit 10.1).                                                                                                                                                                                                     |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.44 | Amendment      2007-1, Charming Shoppes, Inc. Supplemental Benefit Trust Agreement, dated      as of January 25, 2007, to the Charming Shoppes, Inc. Supplemental      Retirement Plan, incorporated by reference to Form 10-K of the Registrant      for the fiscal year ended February 3, 2007 (File No. 000-07258, Exhibit      10.2.29).                                                                                       |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.45 | Amendment      2008-1 to Charming Shoppes, Inc. Supplemental Executive Retirement Plan,      incorporated by reference to Form 8-K of the Registrant dated December 17,      2008, filed on December 19, 2008 (File No. 000-07258, Exhibit      99.1).                                                                                                                                                                             |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.46 | 2003      Incentive Compensation Plan, incorporated by reference to Appendix A of      the Registrant’s Proxy Statement Pursuant to Section 14 of the Securities      Exchange Act of 1934, filed on May 23, 2008 (File No.      000-07258).                                                                                                                                                                                 |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.47 | Form      of Charming Shoppes, Inc. 2003 Incentive Compensation Plan Inducement      Grant Stock Appreciation Rights Agreement, incorporated by reference to      Form 10-Q of the Registrant for the quarter ended November 1, 2008 (File      No. 000-07258, Exhibit 10.24).                                                                                                                                                     |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.48 | Charming      Shoppes Variable Deferred Compensation Plan For Executives, Amended and      Restated Effective January 1, 2005, incorporated by reference to Form 8-K      of the Registrant dated December 13, 2005, filed December 16, 2005 (File      No. 000-07258, Exhibit 99.1).                                                                                                                                              |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2.49 | Amendment      2007-1, Charming Shoppes, Inc. Supplemental Benefit Trust Agreement, dated      as of January 25, 2007, to the Charming Shoppes Variable Deferred      Compensation Plan for Executives and the Charming Shoppes Non-Employee      Director Compensation Plan, incorporated by reference to Form 10-K of the      Registrant for the fiscal year ended February 3, 2007 (File No. 000-07258,      Exhibit 10.2.32). |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                               |

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Table of Contents

| 10.2.50 | Form      of Bonus Agreement by and between Charming Shoppes, Inc. and the Executive      Officer named in the Agreement, incorporated by reference to Form 10-Q of      the Registrant for the quarter ended October 30, 2004 (File No. 000-07258,      Exhibit 10.14).                                                                   |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                       |
| 10.2.51 | Charming      Shoppes, Inc. Annual Incentive Program As Amended and Restated January 19,      2005, incorporated by reference to Form 8-K of the Registrant dated      January 19, 2005, filed January 25, 2005 (File No. 000-07258, Exhibit      99.1).                                                                                   |
|    |                                                                                                                                                                                                                                                                                                                                       |
| 10.2.52 | Charming      Shoppes, Inc. Annual Incentive Program As Amended and Restated February 2,      2006, incorporated by reference to Form 8-K of the Registrant dated      February 2, 2006, filed February 8, 2006 (File No. 000-07258, Exhibit      99.1).                                                                                   |
|    |                                                                                                                                                                                                                                                                                                                                       |
| 10.2.53 | Charming      Shoppes, Inc. Annual Incentive Program As Amended and Restated January 24,      2007, incorporated by reference to Form 10-K of the Registrant for the      fiscal year ended February 3, 2007 (File No. 000-07258, Exhibit      10.2.36).                                                                                   |
|    |                                                                                                                                                                                                                                                                                                                                       |
| 10.2.54 | Charming      Shoppes, Inc. Annual Incentive Program – Fiscal 2009, as amended and      restated March 27, 2008, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended May 3, 2008 (File No. 000-07258, Exhibit      10.13).                                                                           |
|    |                                                                                                                                                                                                                                                                                                                                       |
| 10.2.55 | Employment      Agreement, dated as of January 1, 2005, by and between Charming Shoppes,      Inc. and Dorrit J. Bern, incorporated by reference to Form 8-K of the      Registrant dated January 3, 2005, filed on January 4, 2005 (File No.      000-07258, Exhibit 99.1)                                                                |
|    |                                                                                                                                                                                                                                                                                                                                       |
| 10.2.56 | Employment      Agreement, dated as of December 31, 2007, by and between Charming Shoppes,      Inc. and Dorrit J. Bern, incorporated by reference to Form 8-K of the      Registrant dated December 31, 2007, filed on January 2, 2008 (File No.      000-07258, Exhibit 99.1)                                                            |
|    |                                                                                                                                                                                                                                                                                                                                       |
| 10.2.57 | Separation      Agreement, dated July 8, 2008, by and between Charming Shoppes, Inc. and      Dorrit J. Bern, incorporated by reference to Form 10-Q of the Registrant      for the quarter ended August 2, 2008 (File No. 000-07258, Exhibit      10.16).                                                                                 |
|    |                                                                                                                                                                                                                                                                                                                                       |
| 10.2.58 | The      Charming Shoppes, Inc. 1993 Employees’ Stock Incentive Plan Restricted      Stock Agreement, dated as of May 13, 2004, between Charming Shoppes, Inc.      and Dorrit J. Bern, incorporated by reference to Form 10-Q of the      Registrant for the quarter ended July 31, 2004 (File No. 000-07258,      Exhibit 10.8).   |
|    |                                                                                                                                                                                                                                                                                                                                       |
| 10.2.59 | Charming      Shoppes, Inc. 2004 Stock Award and Incentive Plan Restricted Stock      Agreement, dated as of January 3, 2005, between Charming Shoppes, Inc. and      Dorrit J. Bern, incorporated by reference to Form 10-K of the Registrant      for the fiscal year ended January 29, 2005 (File No. 000-07258, Exhibit      10.2.37). |
|    |                                                                                                                                                                                                                                                                                                                                       |
| 10.2.60 | Form      of Charming Shoppes, Inc. 2004 Stock Award and Incentive Plan Restricted      Stock Agreement between Charming Shoppes, Inc. and Dorrit J. Bern,      incorporated by reference to Form 8-K of the Registrant dated February 7,      2005, filed on February 11, 2005 (File No. 000-07258, Exhibit      99.1)                    |
|    |                                                                                                                                                                                                                                                                                                                                       |
| 10.2.61 | Form      of Charming Shoppes, Inc. 2004 Stock Award and Incentive Plan Performance      Share Agreement between Charming Shoppes, Inc. and Dorrit J. Bern,      incorporated by reference to Form 8-K of the Registrant dated February 7,      2005, filed on February 11, 2005 (File No. 000-07258, Exhibit      99.3)                   |
|    |                                                                                                                                                                                                                                                                                                                                       |

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Table of Contents

| 10.2.62 | Form      of Charming Shoppes, Inc. 2004 Stock Award and Incentive Plan Restricted      Stock Units Agreement between Charming Shoppes, Inc. and Dorrit J. Bern,      incorporated by reference to Form 8-K of the Registrant dated February 2,      2006, filed on February 8, 2006 (File No. 000-07258, Exhibit      99.2)                                                                                                                                                |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.63 | Form      of Charming Shoppes, Inc. 2004 Stock Award and Incentive Plan Performance      Share Agreement between Charming Shoppes, Inc. and Dorrit J. Bern,      incorporated by reference to Form 8-K of the Registrant dated February 2,      2006, filed on February 8, 2006 (File No. 000-07258, Exhibit      99.3)                                                                                                                                                     |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.64 | Forms      of Executive Severance Agreements by and between Charming Shoppes, Inc.,      the named executive officers in the company’s Proxy Statement for the      Annual Meeting held on June 15, 2000, and certain other executive officers      and officers of Charming Shoppes, Inc. and its subsidiaries, incorporated      by reference to Form 10-K of the Registrant for the fiscal year ended      January 29, 2000 (File No. 000-07258, Exhibit 10.2.33). |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.65 | Forms      of First Amendment, dated as of February 6, 2003, to Forms of Executive      Severance Agreements, dated July 15, 1999, by and between Charming      Shoppes, Inc., and the executive officers and officers named in the      Agreements, incorporated by reference to Form 10-K of the Registrant for      the fiscal year ended February 1, 2003 (File No. 000-07258, Exhibit      10.2.30).                                                                   |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.66 | Form      of Second Amendment to Form of Executive Severance Agreement, dated July      15, 1999, as amended by First Amendment, dated as of February 6, 2003, by      and between Charming Shoppes, Inc. and the executive officers and officers      named in the agreements, incorporated by reference to Form 10-K of the      Registrant for the fiscal year ended February 2, 2008 (File No. 000-07258,      Exhibit 10.2.48).                                        |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.67 | Form      of Executive Severance Agreement, dated February 6, 2003, by and between      Charming Shoppes, Inc. and certain executive officers and officers of      Charming Shoppes, Inc. and its subsidiaries, incorporated by reference to      Form 10-K of the Registrant for the fiscal year ended February 1, 2003      (File No. 000-07258, Exhibit 10.2.31).                                                                                                        |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.68 | Form      of Severance Agreement, dated February 1, 2008, by and between Charming      Shoppes, Inc. and certain executive vice presidents named in the      agreements, incorporated by reference to Form 8-K of the Registrant dated      February 1, 2008, Filed on February 5, 2008 (File No. 000-07258, Exhibit      10.1).                                                                                                                                            |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.69 | Form      of Severance Agreement, dated February 1, 2008, by and between Charming      Shoppes, Inc. and certain senior vice presidents named in the agreements,      incorporated by reference to Form 8-K of the Registrant dated February 1,      2008, Filed on February 5, 2008 (File No. 000-07258, Exhibit      10.2).                                                                                                                                               |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.2.70 | Form      of Amendment, dated September 18, 2008, to the Severance Agreements      between certain executive vice presidents and the Company, including the      following named executive officers:  Eric M. Specter, Joseph M.      Baron and Colin D. Stern, incorporated by reference to Form 8-K of the      Registrant dated September 18, 2008, filed on September 24, 2008 (File No.      000-07258, Exhibit 10.1).                                       |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 14      | Charming Shoppes, Inc. Business Ethics and      Standards of Conduct Policy.                                                                                                                                                                                                                                                                                                                                                                                                |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 21      | Subsidiaries of  Registrant.                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 23      | Consent of independent registered public      accounting firm.                                                                                                                                                                                                                                                                                                                                                                                                              |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |

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| 31.1   | Certification by Principal Executive Officer      Pursuant to Section 302 of the Sarbanes-Oxley Act of    2002.                   |
|--------|-----------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                              |
| 31.2   | Certification by Principal Financial Officer      Pursuant to Section 302 of the Sarbanes-Oxley Act of    2002.                   |
|   |                                                                                                                              |
| 32     | Certification Pursuant to 18 U.S.C. Section      1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of      2002. |
|   |                                                                                                                              |

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SCHEDULE II

|                                                                                                                                                                                                                                                                                                                                                                                                                      |   |            |   |   |            |   |    |        |   |   |            |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------|--------|--------|-----------------|--------|---------|-------------|--------|--------|-----------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                      |   | Balance      at |   |   | Additions       |   |    | Adjustments |   |   | Balance      at |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                      |   | Beginning       |   |   | Charged      to |   |    | And         |   |   | End      of     |   |
| (In      thousands)                                                                                                                                                                                                                                                                                                                                                                                                       |   | Of Year         |   |   | Income          |   |    | Deductions  |   |   | Year            |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                      |   |            |   |   |            |   |    |        |   |   |            |   |
| Fiscal      Year Ended January 31, 2009                                                                                                                                                                                                                                                                                                                                                                                   |   |            |   |   |            |   |    |        |   |   |            |   |
| Allowance      for sales      returns                                                               |   | $               | 2,162  |   |            | $      | 98,692  |        |   | $      | 98,817          |   |   | $ | 2,037 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                      |   |            |   |   |            |   |    |        |   |   |            |   |   |   |   |   |
| Fiscal      Year Ended February 2, 2008                                                                                                                                                                                                                                                                                                                                                                                   |   |            |   |   |            |   |    |        |   |   |            |   |   |   |   |   |
| Allowance      for sales      returns                                                               |   |            | 2,655  |   |            |   | 107,547 |        |   |   | 108,040         |   |   |   | 2,162 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                      |   |            |   |   |            |   |    |        |   |   |            |   |   |   |   |   |
| Fiscal      Year Ended February 3, 2007                                                                                                                                                                                                                                                                                                                                                                                   |   |            |   |   |            |   |    |        |   |   |            |   |   |   |   |   |
| Allowance      for sales      returns                                                               |   |            | 3,608  |   |            |   | 125,448 |        |   |   | 126,401         |   |   |   | 2,655 |   |

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