Christopher & Banks Corporation Reports a 12% Increase in December Same-Store Sales.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--Dec. 28, 2000 Christopher & Banks Corporation (Nasdaq:CHBS), formerly Braun's Fashions Corporation, today reported a 12% increase in 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. for its four-week period ended December 23, 2000. Total sales for the four-week period ended December 23, 2000, rose 36% to $29.7 million from $21.9 million last year. For the ten months ended December 23, 2000, same-store sales rose 18%. Total sales for the ten months year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. increased 42% to $170.8 million from $120.1 million last year. As of December 23, 2000, the Company operated 274 stores compared with 223 stores at December 25, 1999. Bill Prange, Chairman and Chief Executive Officer commented, "We are very pleased with our 12% increase in December same-store sales as well as our 36% increase in total sales. Despite bitterly cold weather, which adversely affected traffic at a significant number of Christopher & Banks and C.J. Banks stores located in the upper Midwest The Upper Midwest is a region of the United States with no universally agreed-upon boundary, but it almost always lies within the US Census Bureau's definition of the Midwest and includes the states of Minnesota and Wisconsin, as well as at least the Upper Peninsula of Michigan. , we were still able to generate strong sales performance." Mr. Prange concluded, "We continued to see robust selling at full price which allowed us to maintain our merchandise margins at historically high levels. Our inventories are clean and well-balanced and we optimistically op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op look forward to the remainder of the fourth quarter." Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing providing exclusive fashions under the Christopher & Banks label. Presently, the Company operates 274 stores in 27 states, located primarily in the northern half of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . 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 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 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. For more information on Christopher & Banks Corporation, visit our website at www.christopherandbanks.com |
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