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Q2FY17 operating loss doubles at Christopher & Banks
31
Aug '16
Courtesy: Christopher & banks
Courtesy: Christopher & banks
Operating loss more than doubled at women's specialty retailer Christopher & Banks to $3.8 million in the three months ended July 30, 3016 as against an operating loss of $1.7 million in the second quarter of fiscal 2016. Net loss too climbed higher at $3.9 million compared to a net loss of $0.7 million in the previous fiscal's second quarter.

For the second quarter of fiscal 2017, sales reached $89.9 million, down 4.3 per cent year on year, while comparable sales also dropped 5.8 per cent vis-à-vis a 12.4 per cent decline in the same period last fiscal.

However, gross margin increased to 33.5 per cent of net sales in the reporting quarter, an expansion of 60 basis points over the fiscal ago quarter.

Cash, cash-equivalents and investments totaled $28.1 million as of July 30, 2016, while inventory per square foot, excluding in-transit and ecommerce inventory rose around 3.1 per cent year over year to $17.53 per square foot. (AR)

Fibre2Fashion News Desk – India

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