PERFORMANCE Christopher & Banks Corp., Plymouth, said it expects to report a loss for the fourth quarter ended Feb. 28 from continuing operations in the range of 81 cents to 84 cents per share. That includes one-time pretax charges of about $7 million to $8 million, or 17 cents to 19 cents per share, on sales of about $104 million. Same-store sales plunged 20 percent. The one-time charges relate primarily to asset impairment associated with underperforming stores, severance associated with the previously announced reorganization of field management and the reduction in force at the company's corporate headquarters, and information technology software and related charges. The company expects to report sales of about $531 million and a loss per share in the range of 22 cents to 25 cents from continuing operations for fiscal 2009.
about the writer
Dan Florness is known for being frank, and also for facing problems before they show up in results.
