Christopher & Banks Corporation Reports a 16% Increase in November Same-Store Sales; Same-Store Sales Increase 17% for the Third Quarter.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--Nov. 30, 2000 Christopher & Banks Corporation (Nasdaq: CHBS), formerly Braun's Fashions Corporation, today reported a 16% increase in November 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 November 25, 2000. Total sales for the four-week period ended November 25, 2000, rose 43% to $20.6 million from $14.4 million last year. For the third quarter ended November 25, 2000, same-store sales rose 17%. Total sales for the third quarter increased 44% to $57.3 million from $39.8 million last year. For the nine months ended November 25, 2000, same-store sales rose 19%. Total sales for the nine months year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. increased 44% to $141.1 million from $98.2 million last year. As of November 25, 2000, the Company operated 274 stores compared with 223 stores at November 27, 1999. Bill Prange, Chairman and Chief Executive Officer commented, "We are extremely pleased with our 16% increase in November's same-store sales, which follows a 15% increase in last year's November same-store sales. Our sales were consistently strong throughout the month and reflect continued robust customer demand for our merchandise assortments." Mr. Prange concluded, "On Friday, November 24, 2000, we registered our largest sales day in the history of the Company. Our strong sales over the Thanksgiving Thanksgiving annual U.S. holiday celebrating harvest and yearly blessings; originated with Pilgrims (1621). [Am. Culture: EB, IX: 922] See : America Thanksgiving national holiday with luxurious dinner as chief ritual. [Am. Pop. holiday weekend were very encouraging and we continue to be optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op regarding our prospects for the remainder of the Holiday selling season." 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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