Christopher & Banks Corporation Reports a 5% Increase in September Same-Store Sales.Business & Apparel/Textiles Editors MINNEAPOLIS--(BUSINESS WIRE)--Oct. 4, 2001 Christopher & Banks Corporation (Nasdaq: CHBS), formerly Braun's Fashions Corporation, today reported a 5% increase in September 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 September 29, 2001. Total sales for the four-week period ended September 29, 2001 increased 35% to $20.7 million from $15.3 million last year. For the seven months ended September 29, 2001, same-store sales rose 8%. Total sales for the seven months year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. increased 37% to $136.1 million from $99.2 million last year. As of September 29, 2001, the Company operated 343 stores compared with 262 stores as of September 23, 2000. Bill Prange, Chairman and Chief Executive Officer of Christopher & Banks, commented, "We are pleased to report a 5% increase in September same-store sales. Although mall traffic declined significantly for a brief period following the tragic events of September 11th, our business rebounded to planned levels subsequent to September 14th." Mr. Prange concluded, "We are encouraged that customers have responded favorably fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. to our Fall merchandise assortments with sweaters and knit tops selling particularly well. While we continue to operate in a challenging retail environment, our expectations for future same-store sales increases for the balance of the year remain in the 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. range." 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 343 stores in 30 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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