Christopher & Banks Raises Low End Q4 Sales Outlook

(RTTNews) - Women's apparel retailer Christopher & Banks Corp. (CBK) said Friday that it now expects fourth quarter total net sales to be $96 million to $98 million, compared to its prior guidance of $94 million to $98 million.

Analysts polled by Thomosn Reuters currently expect the company to post revenue of $96.92 million for the fourth quarter.

The company continues to expect fourth quarter gross margin to be relatively flat as compared to the comparable prior year period, largely driven by improved merchandise margins offset by deleveraging of occupancy.

LuAnn Via, President and Chief Executive Officer of Christopher & Banks, said, "We are pleased with our performance thus far this quarter in view of the challenging retail environment. Our inventory levels are in line with our expectations and we are comfortable with our position heading into fiscal 2015.