Christopher & Banks net sales jump 20% to $122.7mn in Q1
22 Jun '05
2 min read
Specialty women's clothing retailer Christopher & Banks Corporation reported results for the first quarter ended May 28, 2005.
Net sales increased 20% to $122.7 million from $102.6 million last year, while same-store sales increased 4%. Net income was $9.3 million, or $0.26 per diluted share, compared to $10.0 million, or $0.26 per diluted share, as restated for lease accounting changes for the quarter ended May 29, 2004.
The Company opened 19 new stores and closed one store in the first quarter, bringing the total number of stores as of May 28, 2005 to 660 compared to 566 stores as of May 29, 2004.
Mr. Prange concluded, "To date, our June business has been strong and they currently anticipate a six to seven percent increase in same-store sales for the month ending June 25, 2005, with a level of full price selling similar to last June. They are optimistic about recent results and believe we are well- positioned for the second quarter."
Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing. The Company currently operates 660 women's specialty stores in 45 states under the names: Christopher & Banks, C.J. Banks and Acorn. The Company currently has 478 Christopher & Banks stores, 161 C.J. Banks stores and 21 Acorn stores.
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