Christopher & Banks total sales up, comp stores sales down
02 Dec '05
2 min read
Minneapolis-based apparel store Christopher & Banks Corporation reported total sales for the four-week period ended November 26, 2005 rose 5 percent to $44.4 million from $42.5 million last year, while same-store sales declined 3 percent.
For the third quarter ended November 26, 2005 total sales increased 8 percent to $130.4 million from $120.6 million last year, while same-store sales declined 2 percent.
For the nine months ended November 26, 2005, total sales increased 14 percent to $363.9 million from $319.6 million last year while same-store sales rose 1 percent.
As of November 26, 2005, the Company operated 707 stores compared to 648 stores as of November 27, 2004.
Bill Prange, Chairman and Chief Executive Officer, commented, "Although their November same-store sales declined 3 percent, merchandise margins were solidly above last year levels.
Additionally, they finished the quarter with in-store inventory per square foot approximately 13 percent below last year.
As they continue to have well controlled inventories, they anticipate December merchandise margins will trend above margins achieved last December."
The Company currently expects that fiscal 2006 third quarter earnings per diluted share will be in the range of $0.23 to $0.24 compared to last year's third quarter when the Company earned $0.21 per diluted share after giving effect to adjustments for changes in accounting for lease transactions.
marketing@alchempro.com
