Christopher & Banks Corporation Reports an 18 Percent Increase in January Same-Store Sales.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--Feb. 1, 2001 Christopher & Banks Corporation (Nasdaq:CHBS), formerly Braun's Fashions Corporation, today reported an 18% increase in January January: see month. 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 January 27, 2001. Total sales for the five-week period ended January 27, 2001, increased 44% to $19.7 million from $13.7 million last year. For the eleven months ended January 27, 2001, same-store sales increased 18%. Total sales for the eleven 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 $190.5 million from $133.8 million last year. As of January 27, 2001, the Company operated 274 stores compared to 223 stores at January 29, 2000. Bill Prange, Chairman and Chief Executive Officer commented, "We are extremely pleased with the continued strength in our same-store sales. Our 18% increase in January same-store sales significantly exceeded internal expectations and follows a 44% increase in last year's January same-store sales." Mr. Prange concluded, "Sales remained strong across all product categories and we continued to experience solid sell-throughs of new merchandise at regular price. As a result of the excellent consumer acceptance of the Christopher & Banks brand, we remain very 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 balance of our fiscal year." 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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