Christopher & Banks posts Q3 profit; new CEO takes reins
Minneapolis -- Christopher & Banks said its net income totaled $3.6 million for the quarter ended Oct.27, compared with a loss $13.7 million in the year-age period.
Revenue rose 2%, to $117.3 million from $114.6 million. The chain has closed more than 100 stores during the last year, but strong sales at its existing locations boosted revenue. Same-store sales rose 13.7%.
Christopher & Banks noted that effective Nov.26, LuAnn Via joined the company as president and CEO.
Via stated: “I am both thrilled to join Christopher & Banks and excited about the opportunity to build upon the foundation that Joel and the team have established. The third quarter results are a testament to the effectiveness of the strategy that has been put in place and is confirmation that the company is on the right path. I look forward to further building on this progress.”