Christopher & Banks (CBK -3.2%) says it expects a loss for Q3, as aggressive sales markdowns...

|About: Christopher & Banks Corpora... (CBK)|By:, SA News Editor

Christopher & Banks (CBK -3.2%) says it expects a loss for Q3, as aggressive sales markdowns to move seasonal inventory negatively impacted margins, leaving comparable store sales essentially flat for the quarter. The company also suspends its dividend due to the weak performance and plans to close about 100 stores. Separately, the company appoints Joel Waller as president for a one-year term.