Christopher & Banks Corporation reported May and fiscal first quarter sales results for the period ended June 2, 2007.
For the four-week period ended June 2, 2007 total sales were $50.7 million compared to $46.6 million for the four-week period ended May 27, 2006. May same-store sales for the four weeks ended June 2, 2007 are compared to the four-week period ended June 3, 2006. On this basis, same-store sales for the four-week period ended June 2, 2007 increased 4%.
Total sales for the first quarter ended June 2, 2007 were $149.4 million compared to $142.5 million for the quarter ended May 27, 2006. Same-store sales for the thirteen week period ended June 2, 2007 declined 4% compared to the thirteen week period ended June 3, 2006. As of June 2, 2007, the Company operated 801 stores compared to 739 stores as of May 27, 2006.
Matt Dillon, President and Chief Executive Officer, commented, “We are encouraged that May same-store sales results improved significantly from April due in part to more seasonable weather conditions. While we are pleased with our increase in May same-store sales we recognize the women's specialty retail environment remains challenging.”
For the fiscal first quarter ended June 2, 2007, earnings guidance remains unchanged as the Company continues to expect earnings of $0.30 to $0.31 per diluted share compared to $0.39 per diluted share last year.
Christopher & Banks Corporation