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MINNEAPOLIS, Dec. 29 /PRNewswire-FirstCall/ -- Christopher & Banks
Corporation (NYSE: CBK) today reported total sales for the four-week period
ended December 24, 2005 increased 9% to $60.2 million from $55.1 million last
year, while December same-store sales rose 2%.
For the ten months ended December 24, 2005 total sales increased 13% to
$424.1 million from $374.7 million in the prior period, while same-store sales
rose 2%. As of December 24, 2005 the Company operated 707 stores compared to
648 stores as of December 25, 2004.
Joe Pennington, Chief Executive Officer, commented, "December same-store
sales were in line with the guidance we provided in our December 20, 2005
earnings release. We are pleased that December merchandise margins were
solidly above last year levels. Additionally, we are encouraged that our gift
card sales increased from nine million last year to eleven million this year
during the Thanksgiving through Christmas period. As we continue to have well
controlled inventories, we expect that January merchandise margins will trend
above margins achieved last January."
Christopher & Banks Corporation is a Minneapolis-based specialty retailer
of womens clothing. The Company operates 707 stores in 45 states under the
names: Christopher & Banks, C.J. Banks and Acorn. The Company currently has
504 Christopher & Banks stores, 179 C.J. Banks stores and 24 Acorn stores.
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
Companys control, including factors discussed from time to time in the
Companys filings with the Securities and Exchange Commission. Readers are
cautioned not to place undue reliance on forward-looking statements, which
reflect managements 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.
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