Christopher & Banks Q4 loss narrows

Minneapolis Christopher & Banks Corp. posted a narrower loss in the fourth quarter and beat analysts’ predictions for a steeper loss. The company also finished the year turning a profit, reversing a loss from last year.

The retailer lost $6.4 million in the quarter that ended Feb. 27, compared with a loss of $28.8 million. The company said during the quarter it incurred a $2.9 million store asset impairment charge.

Revenue fell about 2% to $101.9 million, from $103.9 million. However, fewer markdowns helped buoy profit margins. Same-store sales fell 4%.

For the fiscal year, the company earned $158,000. In the prior fiscal year, the company lost $12.8 million.

Christopher & Banks said it expects its capital expenditures to be between $12 million and $14 million for the year. It plans to open about 10 new stores this year and close 25 existing ones.