Christopher & Banks Corporation, a specialty women's apparel retailer, reported results for the thirteen week period ended May 4, 2013.
Results for the Thirteen Week Period Ended May 4, 2013
Same-store sales increased 23.4%, as compared to the thirteen weeks ended May 5, 2012.
Net sales totaled $108.5 million, as compared to $93.6 million for the thirteen weeks ended April 28, 2012. During the quarter, the Company operated an average of 10.5% fewer stores than during the comparable period last year.
Operating income totaled $0.8 million, which included a $0.1 million non-cash store asset impairment charge. Operating loss was $13.4 million for the thirteen weeks ended April 28, 2012, which included a $0.8 million credit related to non-cash store asset impairment and restructuring charges.
Net income totaled $0.6 million, or $0.02 per diluted share, which included a $0.1 million non-cash asset impairment charge. Net loss for the thirteen weeks ended April 28, 2012 totaled $13.4 million, or $0.38 per share, which included a $0.8 million, or $0.02 per share, credit related to the above-mentioned non-cash asset impairment and restructuring charges.
LuAnn Via, President and Chief Executive Officer, commented, "We are pleased with our strong start to fiscal 2013 as we continue to win customers over with a merchandise assortment that appeals to her tastes as well as her sense of value. In addition, our marketing programs have garnered a highly favorable response and created excitement in our stores. As we continue to gain traction with our strategic initiatives, we believe we are well-positioned to drive sustainable long term growth and profitability."
