Christopher & Banks stock rises after loss narrows

  • Article by: STEVE ALEXANDER , Star Tribune
  • Updated: March 13, 2014 - 8:51 PM

Christopher & Banks Corp. stock rose Thursday after the women’s clothing retailer’s fourth-quarter results beat analysts’ expectations.

The company’s net loss narrowed to $300,000, or 1 cent per share, for the three months ended Feb. 1. Analysts expected a loss of 3 cents a share. The company also predicted “relatively flat” same-store sales in the first quarter, an improvement from a 1.4 percent decline in the just-ended period.

Shares in the Plymouth-based retailer rose 51 cents, or 8.25 percent, to $6.69.

The performance was a sharp improvement from a year ago, when Christopher & Banks lost 11 cents a share.

Revenue was down 9.5 percent to $104.9 million, which was below analysts’ forecast of $106.2 million. The company noted that the latest quarter had one less selling week than the year-ago period.

The company met its goals “despite the negative sales impact from temporary store closings and challenging traffic trends caused by the multiple snowstorms and arctic temperatures during the fourth quarter,” CEO LuAnn Via said. ”We look forward to building upon our momentum, and believe that we are on track to deliver on our three-year growth plan.”

For the full year, Christopher & Banks earned 23 cents a share, compared with a loss of 45 cents a year earlier.

Steve Alexander • 612-673-4553

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