Christopher & Banks Corporation Reports a 7% Increase in April Same-Store Sales.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--May 9, 2002 Christopher & Banks Corporation (Nasdaq: CHBS) today reported a 7% increase in April 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 five-week period ended May 4, 2002. Total sales for the five-week period ended May 4, 2002, rose 31% to $29.7 million from $22.6 million last year. For the two months ended May 4, 2002, same-store sales rose 9%. Total sales for the two 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 $53.0 million from $39.2 million last year. As of May 4, 2002, the Company operated 371 stores compared with 304 stores as of May 5, 2001. Bill Prange, Chairman and Chief Executive Officer commented, "We are pleased with our 7% increase in April same-store sales which exceeded internal expectations. The same-store sales increase was driven by especially robust performance during the third week of the month when warm weather prevailed throughout our market area. Due to the shift in Easter, March and April should be viewed as one sales period for comparative purposes. We are delighted with our 9% same-store sales increase for the combined period, reflecting strong customer response to our Spring merchandise assortment assortment /as·sort·ment/ (ah-sort´ment) the random distribution of nonhomologous chromosomes to daughter cells in metaphase of the first meiotic division. as·sort·ment n. ." Mr. Prange concluded, "Despite the continuing challenges of the retail environment and an uncertain economic outlook, we are comfortable with 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. increases in same-store sales going forward." 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. Currently, the Company operates 371 stores in 31 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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