Braun's Fashions Reports Record Second Quarter Sales and Earnings.

MINNEAPOLIS--(BUSINESS WIRE)--September 15, 1999--

~ Diluted EPS Increases 80% ~

~ Second Quarter Same-Store Sales Increase 15% ~

Braun's Fashions Corporation (Nasdaq: BFCI)today reported record results for its second quarter and six months ended August 28, 1999.

For the second quarter, net income increased to $837,000 or $0.18 per diluted share, compared to $504,000 or $0.10 per diluted share for last year's second quarter. Net sales increased 27% to $29.2 million, from $22.9 million last year while same-store sales increased 15% during the quarter.

For the six months ended August 28, 1999, net income increased 49% to $2.4 million, or $0.51 per diluted share, compared to net income of $1.6 million, or $0.32 per diluted share, for the same period in fiscal 1999. Net sales increased 22% to $58.4 million from $47.9 million during the six-month period last year. For the first six months of the year, same-store sales increased 12%.

Bill Prange, Chairman, President and Chief Executive Officer of Braun's Fashions Corporation commented, "We are extremely pleased with the record sales and earnings achieved in the second quarter and the first six months of fiscal 2000. This performance indicates that our focus on featuring high quality merchandise across our entire assortment is being enthusiastically received by our customers."

Mr. Prange continued, "Our store expansion continued during the second quarter with 11 new store openings. During the first six months of our fiscal year, we have opened a total of 18 stores under the Christopher & Banks name. Another 15 stores are expected to open in the second half for a total of 33 new locations for the year."

Mr. Prange concluded, "Our strong same-store sales increase has continued through mid-September. As a result of the better sell-through at full prices, we do not plan to anniversary a promotional event which was held during the final week of September last year."

Braun's Fashions Corporation is a Minneapolis-based specialty retailer of women's clothing and accessories providing exclusive fashions under the Christopher and Banks label. Presently, the company has 211 stores operating in 24 states, located primarily in the northern regions throughout the United States.

This release contains forward-looking statements regarding future performance of the Company. The achievement of such results is subject to certain risks and uncertainties, including changes in economic, market and weather conditions, the effect of consumer tastes and spending habits, the realization of expected economies gained through the use of private label and direct import merchandise, management of growth and other factors outside the Company's control, including factors discussed from time to time in the company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that may arise after the date hereof.

For more information on Braun's Fashions Corporation, visit our website at www.braunsfashions.com or www.christopherandbanks.com

                   BRAUN'S FASHIONS CORPORATION
                   COMPARATIVE INCOME STATEMENT
       FOR THE QUARTER AND SIX MONTHS ENDED AUGUST 28, 1999
    (in thousands of dollars, except share and per-share data)

                           Three Months Ended     Six Months Ended
                           August     August      August   August
                          28, 1999   29, 1998    28,1999   29,1998
                              (Unaudited)            (Unaudited)


Net sales                $ 29,207    $ 22,942    $ 58,413  $ 47,945
Merchandise, buying and
 occupancy                 19,606      15,388      38,476    31,718
    Gross profit            9,601       7,554      19,937    16,227
Selling, general and
 administrative             7,361       5,974      14,470    12,132
Depreciation and
 amortization                 810         664       1,535     1,323
    Operating income        1,430         916       3,932     2,772
Interest, net                  70         103          99       220
    Income before income
     taxes                  1,360         813       3,833     2,552
Income tax provision          523         309       1,476       970

Net income               $    837     $   504     $ 2,357   $ 1,582

Basic earnings per share:
    Net income           $   0.19     $  0.11     $  0.54   $  0.35
     Weighted average
      common shares
      outstanding       4,377,069   4,555,294   4,365,204 4,539,343


Diluted earnings per
share:
     Net income          $   0.18     $  0.10     $  0.51    $ 0.32
     Weighted average
      common and common
      equivalent shares
      outstanding       4,663,961   4,866,221   4,577,444 4,870,580


                    BRAUN'S FASHIONS CORPORATION
                     COMPARATIVE BALANCE SHEET
                     (in thousands of dollars)

                                     August 28,        August 29,
                                        1999              1998
                                    (Unaudited)        (Unaudited)
ASSETS
Current assets:
   Cash and cash equivalents           $  7,101          $  14,434

   Accounts receivable, less
    allowances for doubtful
    accounts                              1,343              1,001
   Merchandise inventories               12,855             11,812
   Prepaid expenses                       1,189                409
   Prepaid income taxes                     347                  0
   Current deferred tax asset               276                323
   Total current assets                  23,111             27,979

Equipment and improvements, net          15,961             11,499

Other assets:
   Long-term deferred tax asset           1,468              1,415

   Other                                    156                201
     Total other assets                   1,624              1,616

     Total assets                      $ 40,696          $  41,094


LIABILITIES AND STOCKHOLDERS' EQUITY
 Current liabilities:
   Accounts payable                    $  2,227          $   2,486
   Accrued liabilities                    4,744              3,893
   Current maturities of long-term
    debt                                    284                692
   Income taxes payable                       0                607
     Total current liabilities            7,255              7,678

 Long-term obligations:
   Long-term debt                         5,003              9,628
   Accrued rent obligation                1,091              1,003
     Total long-term obligations          6,094             10,631

Stockholders' equity:
   Common stock                              48                 46
   Additional paid-in capital            29,464             28,831
   Retained earnings (deficit)              910             (6,092)
   Stock subscription receivable            (75)                 0
   Common stock held in treasury         (3,000)                 0
     Total stockholders' equity          27,347             22,785

   Total liabilities and stockholders'
    equity                            $  40,696          $  41,094