Christopher & Banks Corporation Reports a 4% Increase in June Same-Store Sales.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--July 5, 2001 Christopher & Banks Corporation (Nasdaq: CHBS), formerly Braun's Fashions Corporation, today reported a 4% increase in June same-stores sales for its four-week period ended June 30, 2001. Total sales for the four-week period ended June 30, 2001 increased 33% to $17.3 million from $13.0 million last year. For the four months ended June 30, 2001, 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 8%. Total sales for the four months year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. increased 35% to $74.8 million from $55.3 million last year. As of June 30, 2001, the Company operated 319 stores compared with 243 stores as of June 24, 2000. Bill Prange, Chairman and Chief Executive Officer of Christopher & Banks, commented, "The increase in June same-store sales was in-line with our expectations. Our wovens category performed particularly well during the month. In addition, sales of summer merchandise improved during the last week of the month as temperatures became significantly warmer." Mr. Prange concluded, "We remain confident in our ability to achieve mid-single digit A single character in a numbering system. In decimal, digits are 0 through 9. In binary, digits are 0 and 1. digit - An employee of Digital Equipment Corporation. See also VAX, VMS, PDP-10, TOPS-10, DEChead, double DECkers, field circus. same-store sales increases and are optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about our second quarter prospects despite the challenging retail environment." Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing providing exclusive fashions under the Christopher & Banks and C.J. Banks labels. Presently, the Company operates 319 stores in 29 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. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion