Christopher & Banks 3Q Profit Up
Minneapolis Christopher & Banks Corp. said Thursday its fiscal third-quarter profit rose 11% on higher apparel sales and better margins but added December results have so far missed expectations.
Net income for the quarter ended Dec. 1 rose to $10.2 million, from $9.2 million in the prior-year quarter.
Revenue rose 15% to $160 million from $139.3 million last year. Same-store sales rose 9% during the quarter.
However, Christopher & Banks CEO Lorna Nagler said in a statement that a promotional environment and storms in December hurt same-store sales, which are expected to fall 1% to 2%.