Content about Christopher & Banks Corp.

August 1, 2014

Christopher & Banks Corporation announced that Peter G. Michielutti has been promoted to executive VP, COO and CFO, effective immediately.

Minneapolis -- Christopher & Banks Corporation announced that Peter G. Michielutti has been promoted to executive VP, COO and CFO, effective immediately.

Michielutti was previously senior VP and CFO, having joined the company in April 2012.

June 10, 2014

Christopher & Banks Corp. more than quadrupled its net income to $2.6 million in the first quarter of fiscal 2014 compared to $0.6 million in the same quarter the prior year. The women’s apparel chain also plans to open six new outlet stores and three new stores in its MPW (Missy, Petite, Women) format during the fiscal year.

Minneapolis — Christopher & Banks Corp. more than quadrupled its net income to $2.6 million in the first quarter of fiscal 2014 compared to $0.6 million in the same quarter the prior year. The women’s apparel chain also plans to open six new outlet stores and three new stores in its MPW (Missy, Petite, Women) format during the fiscal year.

December 4, 2013

Christopher & Banks Corp. reported that net income for the quarter ended Nov. 2 rose to $8.6 million, from $3.6 million in the same period last year.

Minneapolis -- Christopher & Banks Corp. reported that net income for the quarter ended Nov. 2 rose to $8.6 million, from $3.6 million in the same period last year.

Sales edged up to $118.1 million from $117.3 million, and same-store sales increased 4.9%.

During the quarter, the retailer operated an average of 7.3% fewer stores than during the comparable period last year, reflecting its store rationalization program.

November 12, 2013

QuantiSense, a provider of retail exception management software, announced that Christopher & Banks Corporation has licensed both QuantiSense Playbooks and QuantiSense Retail Business Intelligence to help automate the management of retail exceptions across its 598 stores in 44 states, as well as to provide the business analytic platform for their enterprise.

Atlanta -- QuantiSense, a provider of retail exception management software, announced that Christopher & Banks Corporation has licensed both QuantiSense Playbooks and QuantiSense Retail Business Intelligence to help automate the management of retail exceptions across its 598 stores in 44 states, as well as to provide the business analytic platform for their enterprise.

September 10, 2013

Christopher & Banks Corp. reported a loss of $265,000 for the quarter ended Aug. 4, narrowed from a $2.2 million loss in the year-ago period.

Minneapolis -- Christopher & Banks Corp. reported a loss of $265,000 for the quarter ended Aug. 4, narrowed from a $2.2 million loss in the year-ago period. Sales edged up 1% to $104.2 million from $103.4 million, and same-store sales climbed 7.7%.

Under the leadership of CEO LuAnn Via, the company is in the early stages of a turnaround, with store openings on tap for both fiscal 2013 and a longer-term three-year period.

March 14, 2013

Christopher & Banks Corp. narrowed its fiscal fourth-quarter loss as the company received a boost from an extra week of sales and cut costs.

Minneapolis -- Christopher & Banks Corp. narrowed its fiscal fourth-quarter loss as the company received a boost from an extra week of sales and cut costs.

The retailer posted a loss of $4.1 million for the 14 weeks through Feb. 2, compared with a loss of $53.2 million in the 13 weeks the year before.

Revenue was up 10%, to $116 million from $105.6 million. Same-store sales jumped 18.5%.

Total expenses fell 25% to $120 million.

October 29, 2012

Christopher & Banks Corp. said it has named LuAnn Via president and CEO, effective Nov. 26.

Minneapolis -- Christopher & Banks Corp. said Monday it has named LuAnn Via president and CEO, effective Nov. 26.

Via, also named to the retailer’s board of directors, succeeds Joel Waller, who will remain in a consultative capacity through June 30, 2013.

Since July 2008, Via has served as president and CEO of Payless ShoeSource, a subsidiary of Collective Brands, which recently was acquired.

 

July 12, 2012

Christopher & Banks Corp. said it has entered into a new $50 million senior secured revolving credit facility with Wells Fargo Capital Finance.

Minneapolis -- Christopher & Banks Corp. said Thursday it has entered into a new $50 million senior secured revolving credit facility with Wells Fargo Capital Finance.

The new facility provides committed revolving funding through July 2017, and replaces the company’s $50 million credit facility that was scheduled to mature on June 30, 2014.
 

July 6, 2012

Christopher & Banks Corp. has rejected Aria Partners’ unsolicited $64 million takeover offer, saying it was not in the best interest of stockholders.

Minneapolis -- Christopher & Banks Corp. has rejected Aria Partners’ unsolicited $64 million takeover offer, saying it was not in the best interest of stockholders. The private equity firm owns 4% of Christopher & Banks shares. The retailer also adopted a stockholder rights plan, or poison pill, with a trigger at 15%

Private equity firm Aria owns 4% of Christopher & Banks shares.

July 5, 2012

Christopher & Banks Corp. said it had received a takeover offer from private equity firm Aria Partners.

Plymouth, Minn. -- Christopher & Banks Corp. said Tuesday it had received a takeover offer from private equity firm Aria Partners. The value set on the retailer is approximately $64 million.

The retailer said it will review the offer.

Aria currently owns 4% of Christopher & Banks shares.
 

June 5, 2012

Christopher & Banks Corp. reported a loss of $13.4 million, compared with a loss of $8.2 million in the year-ago period.

Minneapolis -- Christopher & Banks Corp. reported Tuesday a loss of $13.4 million, compared with a loss of $8.2 million in the year-ago period.

Net sales dropped to $93.6 million, from $110.4 million in the comparable period last year. Same-store sales decreased 15%.

“Our financial results reflect continued customer resistance to the residual merchandise assortment that consisted of styles that were too updated and priced too high while lacking in key categories,” said Joel Waller, president and CEO.

April 18, 2012

Christopher & Banks Corp. announced that Peter Michielutti will be joining the company on April 23, 2012 as senior VP, CFO.

Minneapolis -- Christopher & Banks Corp. announced that Peter Michielutti will be joining the company on April 23, 2012 as senior VP, CFO. He replaces Michael Lyftogt, who will return to his prior position as chief accounting officer.

Michielutti brings more than 20 years of financial leadership experience to Christopher & Banks. Most recently he served as senior VP and CFO at CSM Corp., a commercial real estate company. He has an extensive retail background, having held the CFO position at Whitehall Jewelers, Wilsons Leather and Fingerhut.

February 21, 2012

Christopher & Banks Corp. said CEO Larry Barenbaum resigned from all his positions in the company, effective Friday.

Minneapolis -- Christopher & Banks Corp. said CEO Larry Barenbaum resigned from all his positions in the company, effective Friday.

The struggling retailer, which posted a $22.2 million loss in fiscal 2011, named president Joel Waller as interim CEO. It said it has formed a committee to search for a permanent CEO.
 

December 23, 2011

Christopher & Banks Corp. reported 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.

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. 

December 14, 2011

Christopher & Banks Corp. said Wednesday it has named Joel N. Waller as president for a one-year term, effective immediately.

Minneapolis -- Christopher & Banks Corp. said Wednesday it has named Joel N. Waller as president for a one-year term, effective immediately. He will report to Larry Barenbaum, CEO.

Waller, who is charged with revitalizing the business and putting the company back on track to profitability, was most recently a consultant to various retail companies, including AM Retail Group, Inc./Wilsons Leather. He served as CEO of Wet Seal from 2005 to 2008, and as chairman and CEO of Wilsons Leather before that.

November 11, 2011

Christopher & Banks Corp. announced Friday that it will close about 100 underperforming stores over the next three months, as part of a restructuring plan that also includes format consolidations and workforce reductions.

Minneapolis -- Christopher & Banks Corp. announced Friday that it will close about 100 underperforming stores over the next three months, as part of a restructuring plan that also includes format consolidations and workforce reductions.

The women’s apparel retailer said it plans to complete most of the store closings by the end of January 2012, and will accelerate plans to convert or consolidate a number of its existing Christopher & Banks and CJ Banks stores into dual-format stores.

October 6, 2011

Christopher & Banks Corp. reported Thursday a net loss of $13 million for the quarter ended Aug. 27, compared with a loss of $2.5 million in the year-ago period.

Minneapolis -- Christopher & Banks Corp. reported Thursday a net loss of $13 million for the quarter ended Aug. 27, compared with a loss of $2.5 million in the year-ago period.

Sales dropped to $96.2 million from $101.3 million, and same-store sales declined 8% during the quarter.

For the second half of fiscal 2012, the retailer said it plans to open approximately eight new stores and close approximately 17 existing stores.

June 30, 2011

Christopher & Banks Corp. reported Thursday that net income for the quarter ended May 28 was $1.9 million, compared with $6.3 million in the year-ago period.

Minneapolis -- Christopher & Banks Corp. reported Thursday that net income for the quarter ended May 28 was $1.9 million, compared with $6.3 million in the year-ago period.

Sales dropped to $123.8 million, from $126.2 million a year earlier. Same-store sales dipped 2%.

The retailer said it plans to open 31 new stores and close 35 existing stores in fiscal 2012.
 

February 24, 2011

Christopher & Banks Corp. said Thursday that it has named Michael Lyftogt to the position of senior VP and CFO.

Minneapolis -- Christopher & Banks Corp. said Thursday that it has named Michael Lyftogt to the position of senior VP and CFO.

Lyftogt, a 12-year veteran of the company, has worked in a variety of financial roles including chief accounting officer and VP finance and has served as interim CFO since July 2010.

January 10, 2011

Christopher & Banks Corp. announced Monday that it has named Larry Barenbaum as president and CEO, effective immediately.

Minneapolis -- Christopher & Banks Corp. announced Monday that it has named Larry Barenbaum as president and CEO, effective immediately.

Barenbaum has served as Interim CEO since October 19, 2010.

December 23, 2010

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.

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%.

January 2, 2008

Minneapolis Christopher & Banks Corp. said Thursday its same-store sales fell 1% in December. But...

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