UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                               (Amendment No. __)*

                          Charlotte Russe Holding, Inc.
                          -----------------------------
                                (Name of Issuer)

                                  Common Stock
                                  ------------
                         (Title of Class of Securities)

                                    161048103
                                    ---------
                                 (CUSIP Number)


                               September 23, 2005
                               ------------------
                      (Date of Event which Requires Filing
                               of this Statement)



Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

     [ ]  Rule 13d-1(b)
     [X]  Rule 13d-1(c)
     [ ]  Rule 13d-1(d)



*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).


                                  Page 1 of 11



-------------------                                           ------------------
CUSIP No. 161048103                   13G                     Page 2 of 11 Pages
-------------------                                           ------------------
---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           S.A.C. Capital Advisors, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*             (a) [ ]
                                                                         (b) [X]
---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
--------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
                      ----- ----------------------------------------------------
     NUMBER OF           6  SHARED VOTING POWER
      SHARES
   BENEFICIALLY             1,248,868 (see Item 4)
     OWNED BY         ----- ----------------------------------------------------
       EACH              7  SOLE DISPOSITIVE POWER
     REPORTING
      PERSON                0
       WITH           ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            1,248,868 (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           1,248,868 (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           5.7% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------

                       *SEE INSTRUCTION BEFORE FILLING OUT


                                  Page 2 of 11



-------------------                                           ------------------
CUSIP No. 161048103                   13G                     Page 3 of 11 Pages
-------------------                                           ------------------
---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           S.A.C. Capital Management, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*             (a) [ ]
                                                                         (b) [X]
---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
--------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
                      ----- ----------------------------------------------------
     NUMBER OF           6  SHARED VOTING POWER
      SHARES
   BENEFICIALLY             1,248,868 (see Item 4)
     OWNED BY         ----- ----------------------------------------------------
       EACH              7  SOLE DISPOSITIVE POWER
     REPORTING
      PERSON                0
       WITH           ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            1,248,868 (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           1,248,868 (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           5.7% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------

                       *SEE INSTRUCTION BEFORE FILLING OUT


                                  Page 3 of 11



-------------------                                           ------------------
CUSIP No. 161048103                   13G                     Page 4 of 11 Pages
-------------------                                           ------------------
---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           S.A.C. Capital Associates, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*             (a) [ ]
                                                                         (b) [X]
---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Anguilla, British West Indies
--------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
                      ----- ----------------------------------------------------
     NUMBER OF           6  SHARED VOTING POWER
      SHARES
   BENEFICIALLY             1,227,387 (see Item 4)
     OWNED BY         ----- ----------------------------------------------------
       EACH              7  SOLE DISPOSITIVE POWER
     REPORTING
      PERSON                0
       WITH           ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            1,227,387 (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           1,227,387 (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           5.6% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------

                       *SEE INSTRUCTION BEFORE FILLING OUT


                                  Page 4 of 11



-------------------                                           ------------------
CUSIP No. 161048103                   13G                     Page 5 of 11 Pages
-------------------                                           ------------------
---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           S.A.C. MultiQuant Fund, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*             (a) [ ]
                                                                         (b) [X]
---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Anguilla, British West Indies
--------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
                      ----- ----------------------------------------------------
     NUMBER OF           6  SHARED VOTING POWER
      SHARES
   BENEFICIALLY             21,481 (see Item 4)
     OWNED BY         ----- ----------------------------------------------------
       EACH              7  SOLE DISPOSITIVE POWER
     REPORTING
      PERSON                0
       WITH           ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            21,481 (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           21,481 (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           Less than 0.1% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------

                       *SEE INSTRUCTION BEFORE FILLING OUT


                                  Page 5 of 11



-------------------                                           ------------------
CUSIP No. 161048103                   13G                     Page 6 of 11 Pages
-------------------                                           ------------------
---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Steven A. Cohen
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*             (a) [ ]
                                                                         (b) [X]
---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           United States
--------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
                      ----- ----------------------------------------------------
     NUMBER OF           6  SHARED VOTING POWER
      SHARES
   BENEFICIALLY             1,248,868 (see Item 4)
     OWNED BY         ----- ----------------------------------------------------
       EACH              7  SOLE DISPOSITIVE POWER
     REPORTING
      PERSON                0
       WITH           ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            1,248,868 (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           1,248,868 (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           5.7% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           IN
---------- ---------------------------------------------------------------------

                       *SEE INSTRUCTION BEFORE FILLING OUT


                                  Page 6 of 11



Item 1(a)      Name of Issuer:
               --------------

               Charlotte Russe Holding, Inc.

Item 1(b)      Address of Issuer's Principal Executive Offices:
               -----------------------------------------------

               4645 Morena Boulevard
               San Diego, CA 92117

Items 2(a)     Name of Person Filing:
               ---------------------

               This statement is filed by: (i) S.A.C. Capital Advisors, LLC,
               ("SAC Capital Advisors") with respect to shares of common stock
               ("Shares") of the Issuer beneficially owned by S.A.C. Capital
               Associates, LLC ("SAC Capital Associates") and S.A.C. MultiQuant
               Fund, LLC ("SAC MultiQuant"); (ii) S.A.C. Capital Management,
               LLC, ("SAC Capital Management") with respect to Shares
               beneficially owned by SAC Capital Associates and SAC MultiQuant;
               (iii) SAC Capital Associates with respect to Shares beneficially
               owned by it; (iv) SAC MultiQuant with respect to Shares
               beneficially owned by it; and (v) Steven A. Cohen with respect to
               Shares beneficially owned by SAC Capital Advisors, SAC Capital
               Management, SAC Capital Associates and SAC MultiQuant.

Item 2(b)      Address of Principal Business Office:
               ------------------------------------

               The address of the principal business office of (i) SAC Capital
               Advisors and Mr. Cohen is 72 Cummings Point Road, Stamford,
               Connecticut 06902, (ii) SAC Capital Management is 540 Madison
               Avenue, New York, New York 10022, and (iii) SAC Capital
               Associates and SAC MultiQuant is P.O. Box 58, Victoria House, The
               Valley, Anguilla, British West Indies.

Item 2(c)      Citizenship:
               -----------

               SAC Capital Advisors and SAC Capital Management are Delaware
               limited liability companies. SAC Capital Associates and SAC
               MultiQuant are Anguillan limited liability companies. Mr. Cohen
               is a United States citizen.

Item 2(d)      Title of Class of Securities:
               ----------------------------

               Common Stock


                                  Page 7 of 11



Item 2(e)      CUSIP Number:
               ------------

               161048103

Item 3         Not Applicable

Item 4         Ownership:
               ---------

               The percentages used herein are calculated based upon the Shares
               issued and outstanding as of July 20, 2005, as reported on the
               Issuer's quarterly report on Form 10-Q filed with the Securities
               and Exchange Commission by the Issuer for the quarterly period
               ended June 25, 2005.

               As of the close of business on September 29, 2005:

               1. S.A.C. Capital Advisors, LLC
               (a) Amount beneficially owned: 1,248,868
               (b) Percent of class: 5.7%
               (c)(i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 1,248,868
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition: 1,248,868

               2. S.A.C. Capital Management, LLC
               (a) Amount beneficially owned: 1,248,868
               (b) Percent of class: 5.7%
               (c)(i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 1,248,868
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition: 1,248,868

               3. S.A.C. Capital Associates, LLC
               (a) Amount beneficially owned: 1,227,387
               (b) Percent of class: 5.6%
               (c)(i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 1,227,387
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition: 1,227,387


                                  Page 8 of 11



               4. S.A.C. MultiQuant Fund, LLC
               (a) Amount beneficially owned: 21,481
               (b) Percent of class: 0.1%
               (c)(i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 21,481
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition: 21,481

               5. Steven A. Cohen
               (a) Amount beneficially owned: 1,248,868
               (b) Percent of class: 5.7%
               (c)(i) Sole power to vote or direct the vote: -0-
               (ii) Shared power to vote or direct the vote: 1,248,868
               (iii) Sole power to dispose or direct the disposition: -0-
               (iv) Shared power to dispose or direct the disposition: 1,248,868

               SAC Capital Advisors, SAC Capital Management, and Mr. Cohen own
               directly no Shares or securities convertible into Shares.
               Pursuant to investment agreements, each of SAC Capital Advisors
               and SAC Capital Management share all investment and voting power
               with respect to the securities held by SAC Capital Associates and
               SAC MultiQuant. Mr. Cohen controls both SAC Capital Advisors and
               SAC Capital Management. By reason of the provisions of Rule 13d-3
               of the Securities Exchange Act of 1934, as amended, each of SAC
               Advisors, SAC Management and Mr. Cohen may be deemed to own
               beneficially 1,248,868 (constituting approximately 5.7% of the
               Shares outstanding). Each of SAC Capital Advisors, SAC Capital
               Management and Mr. Cohen disclaim beneficial ownership of any of
               the securities covered by this statement.

Item 5         Ownership of Five Percent or Less of a Class:
               --------------------------------------------

               If this statement is being filed to report the fact that as of
               the date hereof the reporting person has ceased to be the
               beneficial owner of more than five percent of the class of
               securities, check the following.

Item 6         Ownership of More than Five Percent on Behalf of Another Person:
               ---------------------------------------------------------------

               Not Applicable


                                  Page 9 of 11



Item 7         Identification and Classification of the Subsidiary Which
               ---------------------------------------------------------
               Acquired the Security Being Reported on By the Parent Holding
               -------------------------------------------------------------
               Company:
               -------

               Not Applicable

Item 8         Identification and Classification of Members of the Group:
               ---------------------------------------------------------

               Not Applicable

Item 9         Notice of Dissolution of Group:
               ------------------------------

               Not Applicable

Item 10        Certification:
               -------------

     By signing below the signatory certifies that, to the best of his knowledge
and belief, the securities referred to above were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.


                                 Page 10 of 11



                                    SIGNATURE
                                    ---------

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


Dated:  September 30, 2005

S.A.C. CAPITAL ADVISORS, LLC

By:  /s/ Peter Nussbaum
    ------------------------------------
Name:  Peter Nussbaum
Title:  Authorized Person


S.A.C. CAPITAL MANAGEMENT, LLC

By:  /s/ Peter Nussbaum
    ------------------------------------
Name:  Peter Nussbaum
Title:  Authorized Person


S.A.C. CAPITAL ASSOCIATES, LLC

By:  /s/ Peter Nussbaum
    ------------------------------------
Name:  Peter Nussbaum
Title:  Authorized Person


S.A.C. MULTIQUANT FUND, LLC

By:  /s/ Peter Nussbaum
    ------------------------------------
Name:  Peter Nussbaum
Title:  Authorized Person


STEVEN A. COHEN

By:  /s/ Peter Nussbaum
    ------------------------------------
Name:  Peter Nussbaum
Title:  Authorized Person


                                  Page 11 of 11