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Sales fall short at Christopher & Banks

Aug. 30, 2016 8:55 AM ETChristopher & Banks Corporation (CBKCQ) StockBy: Clark Schultz, SA News Editor
  • Comparable sales fell 5.8% for Christopher & Banks (CBK) in Q2. Execs pointed to softness in the outlet channel and a calendar shift in a May event for part of the sales shortfall.
  • Gross margin as a percentage of sales improved 60 bps to 33.5%.
  • Inventory per square foot increased 3.1% to $17.53.
  • The company sees Q3 revenue of $102-$106M vs. $108M consensus.
  • Previously: Christopher & Banks misses by $0.05, misses on revenue (Aug. 30)
  • CBK -2.43% premarket to $2.01.

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