Christopher & Banks (CBK) Reports In-Line Q3 EPS; Guides Q4 Sales Below the Street

Christopher & Banks (NYSE: CBK) reported Q3 EPS of ($0.01), in-line with the analyst estimate of ($0.01). Revenue for the quarter came in at $103.6 million versus the consensus estimate of $103.76 million.

GUIDANCE:

Christopher & Banks sees Q4 2015 revenue of $91-95 million, versus the consensus of $105.99 million.

LuAnn Via, President and Chief Executive Officer, commented, “Our third quarter results were in line with our guidance, despite a continued difficult retail environment and unseasonably warm weather. Sales and gross margin met our expectations and we ended the quarter with inventory down approximately 14% on a per square foot basis as a result of highly disciplined inventory management. We also drove significant sales growth, in addition to higher gross margins, in our e-Commerce business. We have taken a number of steps to drive improved performance in the business and create a stronger foundation from which to execute, including reorganizing our merchant team and the associated improved processes, and capitalizing on the information provided by our retail intelligence tool. Looking ahead, while we remain focused on these initiatives as well as driving improved productivity in our stores, we will also continue implementing our omni-channel strategy.”

For earnings history and earnings-related data on Christopher & Banks (CBK) click here.

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