Full-year profits at retailer Christopher & Banks were halved after the company posted an US$8.3m loss in the fourth quarter.

Same store sales were down 3.5% in the three months to 1 March, while total revenues dipped 6.5% to $125.3m.

The net loss of $8.3m included charges of about $9.6m, Christopher & Banks said.

"While our fourth quarter results were disappointing, we were encouraged by the quality of our sales and we continued to make progress on many initiatives that will build a strong platform for our company, and allow us to evolve and improve our internal operations and store processes," said company president and CEO Lorna Nagler.

For the full year, sales were up 5.2% to $575.8m, but rose only 1% on a same-store basis.

Net income fell to $17m from $33.7m in fiscal 2007.

Christopher & Banks estimates fiscal 2009 first quarter earnings per share of $0.25-0.27, assuming flat same-store sales.

Nagler said the company was encouraged by early trends for the first quarter.

She added that the retailer would expand its marketing efforts in the year ahead, while completing infrastructure investments and slowing expansion plans, with about 30 new stores in the pipeline.