USA: Christopher & Banks July Same-Store Sales Up By 25 Per Cent
Christopher & Banks Corporation (Nasdaq: CHBS), formerly Braun's Fashion Corporation, today reported a 25 per cent increase in July same-store sales for its five-week period ended July 29, 2000. Total sales for the five-week period ended July 29, 2000, rose 47 per cent to $16m from $10.9m last year. For the five months ended July 29, 2000, same-store sales increased 21 per cent. Total sales for the five months year-to-date increased 44 per cent to $71.3m from $49.4m last year. As of July 29, 2000 the company operated 242 stores compared with 210 as of July 31, 1999. Bill Prange, chairman and CEO of Christopher & Banks said: "We are very pleased to report that our July sales were strong across all merchandise categories, clearly demonstrating the continued acceptance of the Christopher & Banks brand. Our 25 per cent increase in July same-store sales exceeded our expectations and follows a 14 per cent increase in last year's July same-store sales." Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing providing exclusive fashions under the Christopher & Banks label. Presently, the company has 242 stores operating in 27 states, located primarily in the northern regions throughout the United States.
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