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.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.#
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