Originally published at www.seclive.com
Christopher & Banks Corporation (NYSE:CBK) announced its financial results for the second quarter of fiscal year 2014, reporting a quarterly loss of $265K, or $0.01 per share. This quarter last year the company posted a loss of $2.2M, or $0.06 per share, and has been making strides to return to being profitable. Overall the company's performance is continuing to improve, with gross margin increasing from 27.7% to 33.5% while its overall expenses and costs fell 1.3%. Same-store sales increased 7.7% but fell short of the 8% to 10% expectation for the quarter while revenue edged upward 0.8% to $104.2M. CEO LuAnn Via commented that Christopher & Banks has developed a plan to increase same-store sales growth while also making improvements to its profit margin.
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