USA: Christopher & Banks March Sales Jump 15%
Specialty retailer of women's clothing Christopher & Banks Corp on Thursday posted a six per cent slip in March same-store sales but said total sales jumped 15 per cent year-on-year due to a higher store base.
The Minneapolis-based operator of nearly 450 stores said total sales for the four weeks to March 29 climbed to $26.8 million from $23.3m last year.
Chairman and CEO, Bill Prange, stated: "March same-store sales, while negative, were better than expected given the shift of pre-Easter business into April this year versus being in March last year.
"We estimate that approximately four percentage points of the decline in same-store sales can be attributed to this calendar shift. For purposes of year-over-year comparisons, March and April should be viewed as one sales period."
He added: "While we are encouraged by our March results, we remain cautiously optimistic regarding the future as the retail landscape continues to be challenging and may be further impacted by the uncertain economic and geopolitical environment."
Companies: Christopher & Banks Corp
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