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

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Tony Ward
Tony Ward

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X