Christopher & Banks swings to loss in Q3
Minneapolis -- Christopher & Banks Corp. reported Wednesday a net loss of $9.2 million for the third quarter, compared with a profit of $7 million in the year-ago period.
Sales dropped to $120.9 million from $132 million in the prior year. Same-store sales decreased 7%.
“We are clearly disappointed with our performance for the third quarter,” said Larry Barenbaum, interim president and CEO. He added that the company expects fourth-quarter improvements, resulting in same-store sales that are flat to up low single digits as compared with the fourth quarter of last year.