Christopher & Banks Q3 Profit Grows - Quick Facts

(RTTNews) - Specialty women's apparel retailer Christopher & Banks Corp. (CBK), Wednesday reported an increase in its third-quarter net income, with slightly higher revenues.

Net income for the period totaled $8.6 million or $0.23 per share, compared with $3.6 million or $0.10 per share a year before. The last year's results included $0.33 million pretax restructuring charges.

On average, three analysts polled by Thomson Reuters expected the company to report earnings per share of $0.11 for the quarter. Analysts' estimates typically exclude one-time items.

For the three-month period, net sales were $118.1 million, versus $117.3 million a year earlier. Analysts expected the company to generate revenues of $117.2 million. The company said it operated an average of 7.3 percent fewer stores during the period, reflecting its store rationalization program. Same-store sales increased 4.9 percent for the period.

Commenting on the results, the company's Chief Executive said: "Our momentum continued in the third quarter as reflected in our sixth consecutive quarter of comparable store sales growth and strong bottom line results. We attribute our positive performance to the continued refinement of our merchandise strategy, greater focus on targeted marketing programs, optimization of our multi-channel opportunities and our enhanced store experience."

For the fourth quarter, the company expects same-store sales to increase in the low single digit range compared with last year. For the full-year, the company expects capital expenditures to be about $9 million to $9.5 million.