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Christopher & Banks quarterly profit more than doubles
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.
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Virtual Piggy rebrands itself
Virtual Piggy has changed the name of its youth payments service to Oink.
The service enables teens to manage — with parental supervision — their allowances online, shop safely and track budgets, thereby teaching them financial management skills. Now called Oink, the service is available online or via mobile, and is 100% free to use. Oink will continue to employ Virtual Piggy’s privacy protection protocols, compliant with the Children’s Online Privacy Protection Act.