Apparel retailer Christopher & Banks Corp. (CBK) comes on our radar after reporting a better-than-expected results for the third quarter.
Third-quarter net income was $3.58 million or $0.10 per share, compared to a loss of $28.24 million or $0.79 per share in the same period last year.
On average, three analysts polled by Thomson Reuters expected the company to report a loss of $0.15 per share. Analysts' estimates typically exclude special items.
Net sales for the quarter was $117.26 million, down from $123.90 million last year, while two analysts expected revenues of $114.05 million for the quarter.
Same store sales increased 13.7% in the third quarter of fiscal 2012.
Q2 Results
- Q2 net loss narrowed to $2.2 million or $0.06 per share from $6.2 million or $0.18 per share last year.
- Q2 revenues declined to $103.4 million from $105.6 million last year.
Q1 Results
- Q1 net loss widened to $13.4 million or $0.38 per share from $8.2 million or $0.23 per share last year.
- Q1 net sales declined to $93.6 million from $110.4 million last year.
Annual Financial Data
For fiscal year ended January 28, 2012, the company reported a loss of $71.1 million or $2.00 per share, compared to a loss of $22.2 million or $0.63 per share in 2011, and a profit of $158 thousand in fiscal 2010.
Net sales for fiscal 2012 amounted to $413 thousand, compared to $448 thousand in 2011, and $455 thousand in 2010.
Company Profile
Christopher & Banks operates retail stores that sell women's apparel and accessories in the United States. It offers women's apparel in missy sizes 4 to 16, and petite sizes 4P to 16P under the Christopher & Banks brand name; and in sizes 14W to 26W under the C.J. Banks brand name.
The company's stores offer knit tops, woven tops, jackets, sweaters, skirts, denim bottoms, and bottoms made of other fabrications; and jewelry and accessories. It also operates e-Commerce Web sites for its brands at christopherandbanks.com and cjbanks.com.
For comments and feedback: editorial@rttnews.com