Christopher & Banks Q2 Loss Narrows - Quick Facts

(RTTNews) - Christopher & Banks Corp. (CBK), a specialty women's apparel retailer, reported that its second-quarter net loss narrowed to $265,000 or $0.01 per share, from $2.2 million, or a $0.06 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.

The prior year result included a $4.5 million, or $0.13 per share, non-cash credit related to restructuring charges.

Operating loss was seven hundred dollars, compared to an operating loss of $2.2 million last year, which included a $4.7 million pre-tax, non-cash restructuring credit, net of other costs.

Same-store sales increased 7.7%, as compared to the thirteen weeks ended August 4, 2012, during which the Company had an 8.9% same-store sales increase.

Net sales for the quarter totaled $104.2 million, up from $103.4 million last year. Two analysts had consensus revenue estimate of $105.37 million for the quarter.

For the third quarter of fiscal 2013, the company expects same-store sales to increase in the mid-single digit range for the thirteen weeks ended November 2, 2013, as compared to the thirteen weeks ended November 3, 2012, during which the Company had a 13.6% same-store sales increase.

For the 2013 fiscal year, the company expects to open six outlet stores, two new MPW stores and to convert twenty-four existing stores to twelve MPW stores. The company anticipates average store count to be down 8.2%, as compared to the comparable prior year period.