Home / Knowledge / News / Retail / Christopher & Banks Q2 FY20 sales slip to $58 mn

Christopher & Banks Q2 FY20 sales slip to $58 mn

Sep '20
Pic: Shutterstock
Pic: Shutterstock
Christopher & Banks Corp, a US-based specialty women’s apparel retailer, has reported 29.9 per cent sales decline to $58.4 million in its second quarter (Q2) for fiscal 2020 ended on August 1, 2020, compared to the sales of $83.4 million in the same period previous year. Company incurred a net loss during Q2 FY20 of $15.1 million (Q2 FY19: $5.9 million).
“We leveraged our expanded omni-channel capabilities and store inventories, driving 70.9 per cent growth in our e-commerce business for the second quarter. Notably, we saw accelerated growth in both our store customers shopping online for their first time as well as in new online customers, giving us even greater confidence in our longer term opportunities,” Keri Jones, president and chief executive officer at Christopher & Banks, said in a press release.
Gross profit for the quarter was down to $6.3 million ($24.4 million). Selling, general and administrative expenses for Q2 FY20 were $19.3 million ($27.7 million). Company’s operating loss was $14.8 million ($5.7 million).
“We believe that we are well-positioned for the evolving retail landscape given our highly loyal customer base, great value proposition, product offering of casual comfort that matches our customer’s lifestyle, and our expanded omni-channel capabilities. We have the right management team, the right market positioning and infrastructure, and the right strategic plan to drive long term profitable growth in the new environment,” Jones said.

Fibre2Fashion News Desk (JL)

Must ReadView All

Pic: Shutterstock

E-commerce | On 30th Nov 2020

France to impose 'digital tax' in 2020

France has decided to impose a new digital tax on big online...

Pic: University of York

Textiles | On 30th Nov 2020

UK scientists working to reduce textile industry waste

Scientists at the University of York and the Royal College of Art are ...

Pic: Material Exchange

Textiles | On 30th Nov 2020

Material Exchange raises €5 million for sustainability

Material Exchange has announced the closing of a €5 million funding...

Interviews View All

Veronique Lee, Modavanti

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Textile Industry, Head honchos

Textile Industry
Head honchos

Tech in fashion industry has hit acceleration button

Textile Industry, Head honchos

Textile Industry
Head honchos

Virtual reality would be the new normal

Nina Smith,

Nina Smith

GoodWeave International, a nonprofit working to end child, forced and...

Emmi Berlin,

Emmi Berlin

With the support of the first investors - Finland's Technical Research...

Mario Castro,

Mario Castro

Fibraltex is an integral factory dedicated to the production of denim...

Daniel Kaye, RocketLife

Daniel Kaye

<div>RocketLife, an award-winning developer of breakthrough visual...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

November 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search