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Christopher & Banks swings to Q4 profit


Minneapolis – Christopher & Banks Corp. on Tuesday swung to a profit of $32.2 million for the fourth quarter, after reporting a loss in the same period a year earlier.

Net sales totaled $98.0 million, as compared to $104.9 million for the year-ago period. During the quarter, the company operated an average of 7.0% fewer stores than during the comparable period last year, reflecting its store conversion program.

The retailer posted revenue of $98 million in the period.

LuAnn Via, president and CEO, stated: “During the fourth quarter, we managed through challenging traffic trends and an aggressive promotional environment, as well as extensive West Coast port delays. Despite these challenges, we delivered revenue at the high end of our expectations and a year-over-year improvement in our gross margin rate, excluding the impact of the error correction described above, as we worked diligently to manage the business and execute on our strategic initiatives.”

For the year, the company reported profit of $47.1 million. Revenue totaled $418.6 million.

For the current quarter ending in April, Christopher & Banks said it expects revenue in the range of $422 million to $432 million.

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