Christopher & Banks Lowers Q3 Sales Outlook - Quick Facts

(RTTNews) - Christopher & Banks Corp. (CBK), a specialty women's apparel retailer, announced its updated financial outlook for the fiscal 2014 third quarter. The company now expects third quarter total net sales to be in the range of $114 million to $118 million, compared to its prior guidance of between $122 million to $124 million. The company believes sales have been negatively impacted by continued softness in mall traffic and lower than expected sales from its September fashion show.

Analysts polled by Thomson Reuters expect the company to report third-quarter sales of $123.98 million.

For the third-quarter; the company expects approximately 75 to 100 bps of gross margin improvement, compared to the comparable prior year period and its prior guidance of 75 to 125 bps. Third-quarter SG&A dollars are expected to be between approximately $33.5 million and $34.0 million, as compared to its prior guidance of $34.0 million to $34.5 million.