Home / Knowledge / News / Apparel/Garments / Women's retailer Christopher & Banks revises FYQ3 outlook
Women's retailer Christopher & Banks revises FYQ3 outlook
09
Oct '14
Led by many factors, which include sales being negatively impacted by low mall traffic and lower than expected sales from its September fashion show, NYSE-listed US retailer Christopher & Banks Corporation revised its outlook for the third fiscal quarter of 2014.

The new guidance from the specialty women's apparel retailer now forecasts total net sales to be in the range of $114 million to $118 million, as compared to its prior guidance of between $122 million to $124 million and $118.1 million of net sales it reported in last year's third quarter.

Among other reasons and based on sales trends to date for the third fiscal quarter, Christopher & Banks also blamed late receipts of goods associated with the West Coast port disruption.

The women’s retailer has also downwardly revised gross margin improvement to around 75 to 100 bps, when compared to the comparable prior year period and its prior guidance of 75 to 125 bps.

It also expects SG&A expense to be between $33.5 million and $34.0 million against the prior guidance of $34.0 million to $34.5 million and the $33.2 million of SG&A expense reported in the third quarter last year.

The retailer also said that consistent with its prior guidance, its inventory at the end of the quarter will remain higher than the comparable prior year period, which is a result of planned higher levels of core inventory, but will be at a level lower than at the end of the second quarter.

CEO LuAnn Via said, "We have seen recent improvements in the sell-through of fashion merchandise and continued strong margins in our core offerings and we continue to be highly focused on carefully managing inventory and SG&A expenses.

“We remain committed to our key initiatives of enhancing our merchandise assortments and presentation, improving our store environment and customer experience, and increasing our sales per store with our conversions to the MPW format.

“With a number of these initiatives gaining traction, we remain confident that we are on the right path to achieve long-term growth and profitability."

Christopher & Banks operates 553 stores in 43 states consisting of 210 Christopher & Banks stores, 115 stores in its women's plus size clothing division CJ Banks, 186 MPW stores and 42 outlet stores. (AR)

Fibre2fashion News Desk - India


Must ReadView All

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Top executives
Textile industry

The foremost issue is bridging the skill gap

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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