Home / Knowledge / News / Apparel/Garments / Christopher & Banks sales dip 5% for 13 weeks ended May 4
Christopher & Banks sales dip 5% for 13 weeks ended May 4
10
Jun '14
Christopher & Banks Corporation, a specialty women's apparel retailer, reported results for the thirteen week period ended May 3, 2014. 
 
Results for the Thirteen Week Period Ended May 3, 2014 
Net sales totaled $103.4 million, as compared to $108.5 million in the thirteen weeks ended May 4, 2013. During the quarter, the Company operated an average of 8.9% fewer stores than during the comparable period last year. 
 
Same-store sales decreased 0.2% in the thirteen weeks ended May 3, 2014, as compared to the thirteen weeks ended May 4, 2013; this follows a 23.4% same-store sales increase in last year's first quarter. 
 
Gross margin was 36.7%, as compared to 34.2% in last year's first quarter. Operating income totaled $2.8 million for the thirteen week period ended May 3, 2014. Operating income was $0.8 million for the thirteen weeks ended May 4, 2013. 
 
Net income for the thirteen week period ended May 3, 2014 totaled $2.6 million, or $0.07 per diluted share. Net income for the thirteen weeks ended May 4, 2013 totaled $0.6 million, or $0.02 per diluted share. 
 
LuAnn Via, President and Chief Executive Officer, commented, "Throughout the first quarter, we realized continued momentum in our strategic initiatives despite the challenges presented by the severe winter weather experienced during the first half of the quarter. While our comparable store sales were slightly below our expectations for the quarter, we saw business improve as the weather became more seasonal and we exceeded our gross margin expansion target, with a refined merchandise offering and enhanced inventory strategies. 
 
“Furthermore, sales and profitability in our MPW (Missy, Petite, Women) stores continued to perform above the Company average. Looking ahead, additional opportunities to enhance our merchandise offering, further engage our customer and broaden our reach with our marketing programs are expected to result in continued improvement in store productivity. We also plan to accelerate our MPW strategy and end the year with approximately 190 locations in this format, as these stores continue to deliver strong returns. Overall, we are well-positioned to meet our financial goals for the year, and are on track to deliver on our three-year growth plan." 


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search