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Christopher & Banks loss widens in Q1
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.
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Eddie Bauer names former Nike executive as new CEO
Seattle -- Eddie Bauer announced Tuesday that Michael R. Egeck has been named its president and CEO, replacing interim CEO David Chamberlain who will remain a member of the board.
Egeck was most recently CEO of Hurley International, a division of Nike. He has also served as president of True Religion.