Christopher & Banks loss widens in Q3
San Francisco -- Christopher & Banks Corp. reported Thursday a loss of $28.2 million for the quarter ended Nov. 26, widened from a loss of $9.2 million in the year-ago period and reflecting a one-time charge.
Sales rose to $123.9 million, from $120.9 million a year ago, matching Wall Street expectations. Same-store sales for the quarter were flat.
“We were clearly disappointed in the results for the quarter,” said Larry Barenbaum, CEO. “Looking ahead, we remain focused on completing our previously announced store closing plan, disciplined inventory management and expense controls, and improved product execution.”
As recently announced, the company has named retail veteran Joel Waller as its new president.