Christopher & Banks Corporation Reports August Sales Results.MINNEAPOLIS Minneapolis (mĭn'ēăp`əlĭs), city (1990 pop. 368,383), seat of Hennepin co., E Minn., at the head of navigation on the Mississippi River, at St. Anthony Falls; inc. 1856. -- Christopher & Banks Corporation (NYSE NYSE See: New York Stock Exchange :CBK CBK Common Body of Knowledge CBK Commerzbank AG CBK Central Bank of Kuwait CBK Commercial Bank of Kuwait CBK Christiania Bank og Kreditkasse CBK Campus Beiaard Kring CBK Cannabis-Bundeskonferenz (Germany) ) today reported that total sales for the four-week period ended August 26, 2006 increased 15% to $38.6 million from $33.6 million last year. August same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. rose 5%. For the second quarter ended August 26, 2006, total sales increased 19% to $131.6 million from $110.8 million last year while same store-sales rose 8%. For the six months ended August 26, 2006, total sales increased 17% to $274.1 million from $233.5 million last year while same-store sales increased 8%. As of August 26, 2006, the Company operated 753 stores compared with 674 stores as of August 27, 2005. Joe Pennington Joe Pennington, aka "Joe Penny," (born January 15, 1928 in Plant City, Florida) is a former lead guitarist for Hank Williams' backing band, the Drifting Cowboys. After leaving the Drifting Cowboys in 1948, Pennington continued to perform and recorded several pioneering , Chief Executive Officer, commented, "Results were positive throughout the month with same-store sales and merchandise margins being the strongest during the final week of the month. Our inventory continues to be conservatively managed as we finished the quarter with an increase of approximately 2% in year-over-year in-store inventory per store. We believe we are well positioned for the Fall selling season." Financial Outlook The Company continues to expect its earnings for the fiscal second quarter ended August 26, 2006, to range from $0.19 to $0.20 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share. Second quarter guidance takes into account a $0.02 per share impact of expensing stock based compensation. In last year's second quarter, the Company earned $0.16 per diluted share. Fiscal 2007 second quarter earnings will be reported after the markets close on September 19, 2006. About Christopher & Banks Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing. The Company operates 753 stores in 45 states under the names: Christopher & Banks, C.J. Banks and Acorn. The Company currently has 518 Christopher & Banks stores, 205 C.J. Banks stores and 30 Acorn stores. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding the Company's positive outlook for sales in the Fall selling season and for its earning guidance for the fiscal quarter ended on August 26, 2006 of $0.19 to $0.20 per diluted share. The achievement of such results is subject to certain risks and uncertainties and may differ materially from those projected. Such risk factors include, but are not limited to, significant changes in economic, market and weather conditions, the inability to positively influence variable consumer tastes and spending habits, the failure to realize expected economies gained through the use of private label and direct import merchandise, the ability to maintain a positive response by customers to the Company's new 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 here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or that may arise after the date hereof. |
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