Christopher & Banks Corp. (CBK) reported a net loss of $2.1 million or $0.06 per share for the second quarter, compared to net income of $0.8 million or $0.02 per share in the prior year quarter.
Second quarter net sales fell to $101.2 million from $128.5 million for the second quarter of fiscal year 2009. Comparable store sales from continuing operations for the second quarter of fiscal 2010 decreased by 22%.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.14 per share on revenue of $103.57 million for the quarter. Analysts' estimates typically exclude special items.
For the third quarter of fiscal 2010, the company expects a decline in comparable store sales in the low-to-mid teens.
In addition, the company said that its board declared a quarterly cash dividend of $0.06 per share, to be payable October 22, to shareholders of record at the close of business on October 8.
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