Christopher & Banks Corporation, a specialty women’s apparel retailer, reported results for the thirteen week period ended November 2, 2013.
Christopher & Banks Corporation, a specialty women's apparel retailer, reported results for the thirteen week period ended November 2, 2013. Same#
Same-store sales increased 4.9%, as compared to the thirteen weeks ended November 3, 2012; this follows a 13.6% same-store sales increase in last year’s third quarter.
Christopher & Banks Corporation, a specialty women's apparel retailer, reported results for the thirteen week period ended November 2, 2013. Same#
Net sales totaled $118.1 million, as compared to $117.3 million for the thirteen weeks ended October 27, 2012. During the quarter, the Company operated an average of 7.3% fewer stores than during the comparable period last year, reflecting its store rationalization program.
Christopher & Banks Corporation, a specialty women's apparel retailer, reported results for the thirteen week period ended November 2, 2013. Same#
Operating income was $8.6 million. This compares to operating income of $3.6 million for the same period last year, which included approximately $333,000 in pre-tax expenses related to restructuring charges.
Christopher & Banks Corporation, a specialty women's apparel retailer, reported results for the thirteen week period ended November 2, 2013. Same#
Net income totaled $8.6 million, or $0.23 per diluted share. Net income for the thirteen weeks ended October 27, 2012 totaled $3.6 million, or $0.10 per diluted share, including the above mentioned $333,000 pretax restructuring charge, or $0.01 per diluted share.
Christopher & Banks Corporation, a specialty women's apparel retailer, reported results for the thirteen week period ended November 2, 2013. Same#
Balance Sheet Highlights and Capital Expenditures
Cash, cash-equivalents and investments totaled $47.1 million as of November 2, 2013. Inventory per store, excluding in-transit and eCommerce inventory, decreased approximately 10% on a per-store basis as of November 2, 2013, as compared to October 27, 2012.
Christopher & Banks Corporation, a specialty women's apparel retailer, reported results for the thirteen week period ended November 2, 2013. Same#
For the thirteen week period ended November 2, 2013, the Company had no outstanding borrowings under its revolving credit facility and capital expenditures totaled approximately $3.0 million.
Christopher & Banks Corporation, a specialty women's apparel retailer, reported results for the thirteen week period ended November 2, 2013. Same#
For the fourth quarter of fiscal 2013, the Company expects:
- Same-store sales to increase in the low single digit range for the thirteen weeks ended February 1, 2014, as compared to the same period last year;
- Average store count to be down 6.8%, as compared to last year’s fourth fiscal quarter, reflecting its store rationalization program;
- Approximately 100 to 150 bps of gross margin improvement, as compared to last year’s fourth fiscal quarter;
- SG&A to decline in absolute dollars due to the fifty-third week in last year’s fourth quarter, offset to some extent by increases in marketing spend and in benefit costs;
- Overall SG&A dollars to be between 30.0% to 30.5% as a percent of net sales, as compared to 30.0% in last year’s fourth fiscal quarter; to recognize a nominal amount of tax benefit, as the Company’s tax provisions will continue to be affected by the valuation allowance on the Company’s deferred tax assets;
- Inventory levels to continue to show improvement in turns.
Christopher & Banks Corporation, a specialty women's apparel retailer, reported results for the thirteen week period ended November 2, 2013. Same#
Christopher & Banks