Home / Knowledge / News / Apparel/Garments / Same-store sales soar at women's clothing retailer Christopher & Banks

Same-store sales soar at women's clothing retailer Christopher & Banks

13
Aug '07

Christopher & Banks Corporation reported fiscal July sales results.

For the five-week period ended August 4, 2007, total sales were $53.8 million compared to $49.6 million for the five-week period ended July 29, 2006. July same-store sales for the five weeks ended August 4, 2007 are compared to the five-week period ended August 5, 2006.

On this basis, same-store sales for the five-week period ended August 4, 2007 increased 4%. Total sales for the five fiscal months ended August 4, 2007 were $249.0 million compared to $235.5 million for the five fiscal months ended July 29, 2006.

Same-store sales for the twenty-two weeks ended August 4, 2007 declined 1% compared to the corresponding twenty-two week period ended August 5, 2006. As of August 4, 2007, the Company operated 804 stores compared to 743 stores as of July 29, 2006.

Matt Dillon, President and Chief Executive Officer, commented, “July same-store sales, which were driven by an increased level of promotional activity, were in line with our expectations.”

Financial Outlook:
The Company continues to anticipate a low single digit increase in second quarter same-store sales. Given the heightened promotional activity in the women's specialty retail sector, the Company currently expects earnings for the second quarter to track at or near the low end of its previously stated guidance of $0.11 to $0.12 per diluted share.

The Company also announced that it repurchased 186,100 shares of its common stock in July under its current $20 million repurchase program.

Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing.

Christopher & Banks Corporation

More Christopher & Banks Corporation News... More Apparel/Garments News - United States Of America...