News Flash

Christopher & Banks same-store sales up

28 Dec '07

3 min read

Christopher & Banks Corporation reported results for its third quarter and nine months ended December 1, 2007.

Third Quarter Results:
Total sales for the third quarter ended December 1, 2007 were $160.0 million compared to $139.3 million for the quarter ended November 25, 2006. Same-store sales for the thirteen-week period ended December 1, 2007 increased 9% compared to the thirteen-week period ended December 2, 2006. Net income for the third quarter was $10.2 million or $0.29 per diluted share compared to $9.2 million or $0.24 per diluted share for the third quarter last year.

Lorna Nagler, President and Chief Executive Officer of Christopher & Banks Corporation, commented, “We are pleased to have delivered a 9% same-store sales increase and strong third quarter earnings despite a challenging macro-environment. We were also encouraged by our solid improvement in merchandise margins and the success of our first ever Friends and Family event.”

For the nine month period ended December 1, 2007, net sales were $450.5 million compared to $413.3 million for the nine month period ended November 25, 2006. Same-store sales for the thirty-nine week period ended December 1, 2007 increased 3% compared to the thirty-nine week period ended December 2, 2006. Net income was $25.3 million or $0.70 per diluted share, compared to $31.8 million or $0.84 per diluted share last year. As of December 1, 2007, the Company operated 841 stores compared to 778 as of November 25, 2006.

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