Christopher & Banks (NYSE: CBK) reported Q4 EPS of ($0.46), $0.01 worse than the analyst estimate of ($0.45). Revenue for the quarter came in at $85 million versus the consensus estimate of $85.28 million.

• Net sales totaled $85.0 million, a decrease of 10.1%, while operating on average 499 stores, compared to $94.6 million in net sales for the fourth quarter of fiscal 2015, while operating on average 534 stores.
• Comparable sales decreased 7.8% following a 3.4% decrease in the same period last year.
• Gross margin rate decreased 610 basis points to 24.8%, as compared to last year’s fourth quarter, primarily due to deeper than planned promotions and increased markdowns to address inventory levels, as well as the strategic decision to right size or exit certain product categories, combined with deleverage on lower sales.
• Net loss totaled $17.2 million, or ($0.46) per share, compared to a net loss for the prior year period of $46.6 million, or ($1.26) per share, which included $37.5 million, or a ($1.02) loss per share, to record a valuation allowance for the Company’s deferred tax assets.
• Adjusted EBITDA*, a non-GAAP measure, was $(14.1) million, compared to $(3.7) million for the same period last year. The Company defines Adjusted EBITDA as Net income (loss), adjusted for Income tax provision (benefit); Other Income; Interest expense, net; Depreciation and Amortization; Impairment of long-lived assets; and certain non-recurring items.
• Merchandise inventory, at cost, was down approximately 13.0%, as compared to the prior fiscal year end.

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