Christopher & Banks 2Q Profit Falls
Minneapolis, Christopher & Banks Corp. on Thursday said its fiscal second-quarter profit fell 57% as expenses outpaced sales growth.
Profit for the quarter ended Sept. 1 fell to $3.4 million from $7.9 million in the prior-year period. Revenue rose 7% to $141.1 million from $131.6 million.
Comp-store sales rose 3% during the quarter. Buying and occupancy expenses rose 15% to $90.6 million and selling, general and administrative expenses rose 13% to $40.6 million.