Christopher & Banks Corporation Reports a 3% Increase in September Same-Store Sales
MINNEAPOLIS, Oct. 1, 2003 -- Christopher & Banks Corporation (NYSE: CBK) today reported total sales for the four-week period ended September 27, 2003 increased 21% to $30.2 million from $24.9 million last year, while September same-store sales increased 3%.
For the seven months ended September 27, 2003, total sales rose 21% to $213.3 million from $176.5 million in the prior year period, while same-store sales increased 1%. As of September 27, 2003, the Company operated 513 stores compared to 414 stores as of September 28, 2002.
Bill Prange, Chairman and Chief Executive Officer, commented, "We are pleased with our 3% increase in September same-store sales. During the final week of September, sales improved as a large part of our market area experienced more seasonal weather patterns. Given the still difficult retail environment, we continue to plan for a low single digit increase in same-store sales for the remainder of the year."
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 513 stores in 42 states. For more information on Christopher & Banks Corporation, visit the Company's website at www.christopherandbanks.com.
This release contains forward-looking statements 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.
The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that may arise after the date hereof.
Contacts: Financial Dynamics Cara O'Brien or Melissa Myron, Investors Stephanie Sampiere, Media (212) 850-5600