Christopher & Banks Corporation Reports December 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 total sales of $60.0 million for the four-week period ended December 23, 2006, down modestly from $60.2 million last year. December 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. declined 7%. For the ten months ended December 23, 2006, total sales increased 12% to $473.3 million from $424.1 million last year, while same-store sales increased 3%. As of December 23, 2006, the Company operated 779 stores compared with 707 stores as of December 24, 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, "December same-stores were in line with the guidance we provided in our December 19, 2006 earnings release. Weekly same-store sales comparisons showed improvement as we progressed through the month. We remain committed to addressing any slow moving inventory issues within the fourth quarter and plan to end the quarter with a clean, fresh in-store merchandise presentation." About Christopher & Banks Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing. The Company operates 779 stores in 45 states under the names: Christopher & Banks, C.J. Banks and Acorn. The Company currently has 524 Christopher & Banks stores, 218 C.J. Banks stores and 37 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 plans to address any slow moving inventory issues during the fourth quarter, allowing the Company to end the quarter with a clean, fresh in-store merchandise presentation. 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, adverse changes in economic, market and weather conditions, shifts in consumer tastes and spending habits that result in decreased sales, failure to realize expected economies gained through the use of private label and direct import merchandise, problems in managing our 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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