Home / Knowledge / News / Apparel/Garments / Comparable store sales gains at Christopher & Banks
Comparable store sales gains at Christopher & Banks
16
Apr '10
Christopher & Banks Corporation reported results for its fiscal 2010 fourth quarter and year ended February 27, 2010.

For the Fourth Quarter Ended February 27, 2010

• Total net sales were $101.9 million as compared to $103.9 million in the fourth quarter of fiscal 2009. Fourth quarter fiscal 2010 same-store sales decreased 4%.
• Gross profit for the quarter increased 66.7% to $32.5 million and, as a percentage of net sales, gross margin increased to 31.9% for the quarter from 18.8% in the fourth quarter of fiscal 2009.
• The operating loss for the fourth quarter of fiscal 2010 totaled $10.1 million and includes a $2.9 million store asset impairment charge. This compares to a $34.9 million operating loss for the fourth quarter of fiscal 2009, which included $7.3 million in one-time charges related to severance costs, software and implementation related costs, and store asset impairment charges of $4.6 million.
• Net loss per share from continuing operations for the fourth quarter was $0.18, which includes a $0.05 per share store asset impairment charge.
• Cash, cash equivalents and investments totaled $113 million.
• Inventory per store at fiscal year-end (excluding e-Commerce) was down 3% from prior year-end.

Lorna Nagler, President and Chief Executive Officer, commented, “We are very pleased to have ended the year on a positive note with comparable store sales gains during the last two months of the year and having made significant progress on our operational initiatives. As we look ahead, we are encouraged by our prospects for profitable growth. The advances we are making in our merchandising and marketing efforts, our stronger operating platform and our healthy balance sheet positions us well to drive shareholder value.”

For the Fiscal Year Ended February 27, 2010

• Total sales from continuing operations were $455.4 million for the fiscal year ended February 27, 2010, compared to $530.7 million for the fifty-two week period ended February 28, 2009. Same-store sales decreased 15% for fiscal 2010.
• The pre-tax loss from continuing operations was $639,000 in fiscal 2010, compared to a pre-tax loss from continuing operations of $12.3 million in fiscal 2009.
• Net income from continuing operations was $0.2 million, or $0.00 per share, for fiscal 2010, including non-cash asset impairment charges of $2.9 million. This compares to a net loss from continuing operations of $8.1 million, or $0.23 per share, for fiscal 2009, including non-cash store asset impairment charges of $4.6 million and other one-time charges related to severance costs and software and implementation related costs, for a total of $7.3 million of one-time charges. Including discontinued operations, the net loss in fiscal 2009 was $12.8 million, or $0.36 per share.
• The effective tax rate for the fourth quarter was approximately 35%. Due to the Company's near break-even results for the year, small discrete tax items and state tax considerations had a significant impact on the Company's annual effective tax rate. As a result, the effective tax rate for the year was approximately 125%.


Must ReadView All

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Apparel/Garments | On 21st Sep 2017

BFC announces partnership with Chinese firm JD.com

The British Fashion Council (BFC) has forged a new partnership...

Textiles | On 21st Sep 2017

Indonesia’s textile exports may reach $15 billion by 2019

Indonesia’s textile-related exports are projected to reach $15...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Vaanee Bhatia
Gritstones Clothing

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

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