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You got that right, MM!
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Motley Fool
Christopher & Banks Is Taking Inventory
Thursday April 6, 11:38 am ET
By Jeremy MacNealy
A quarter ago, when I last checked up on women's-clothing retailer Christopher & Banks (NYSE: CBK - News), I noted that the company's margin improvements were probably due to better controls on inventory. When businesses have improved communication and workflow between storefronts and central offices, they can maintain appropriate levels of inventory, thus resulting in fewer markdowns and increased profitability. According to management remarks in its latest conference call, this is exactly what the company has been aiming for.
Early last spring, the company enacted a plan to pursue a full-priced selling strategy using better apparel assortments and tighter controls on inventory. The effects of this plan were evident in the third quarter and continued to bear fruit in the fourth quarter. Christopher & Banks witnessed a 10% increase in average dollar per transaction as it continued to shift away from clearances.
However, its plan to tighten inventories may have been too successful for its own good. The danger is that a company won't have enough items on hand to meet customer demand. This may be what happened in the fourth quarter, since same-store transactions declined 11% during that time. Interestingly, merchandise inventories at the end of the third quarter were 11.2% lower than the same period a year ago.
Management didn't elaborate on its transactions decline in either its press release or conference call. The company did indicate, however, that it is planning to increase inventories to comparable levels from a year ago, suggesting that current levels are not enough to meet demand. Once it finds the right balance in inventory levels, the company should benefit. Adequate inventory levels will improve comps, and when this is coupled with its full-priced strategy, Christopher & Banks will be primed to make substantial improvements to profitability.
Of course, no amount of inventory talk will get the customer in the door. Christopher Banks believes that its "evolution" strategy -- intended to capture the ever-changing tastes of its customer -- will help it remain relevant. For 2006, it has been receiving positive feedback from customers on what it described as fresh and colorful assortments.
As it looks right now, Christopher & Banks seems poised for a solid 2006. But investors will want to continue monitoring its comps growth in the quarters ahead to see whether it can move this metric back into positive territory after inventories are brought up to adequate levels.
Fool contributor Jeremy MacNealy does not have any financial interest in any companies mentioned.=============================
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CBK gets good exposure to German bankers
Anyone following the news about German banks will stumble on CBK today:
Maybe some German bankers will also notice the blowout numbers CBK posted today:
Christopher & Banks Corporation Reports April Sales Results
Thursday May 4, 7:00 am ET Company Increases First Quarter and Full Year Fiscal 2007 Earnings Estimates
MINNEAPOLIS--(BUSINESS WIRE)--May 4, 2006--Christopher & Banks Corporation (NYSE: CBK - News) today reported total sales for the five-week period ended April 29, 2006 increased 22% to $59.5 million from $48.6 million last year. Same-store sales for the month of April rose 13%.
Due to the Easter calendar shift, March and April sales results should be viewed as one period for comparative purposes. For the two months ended April 29, 2006, total sales increased 15% to $96.0 million from $83.4 million last year while same-store sales increased 6%. As of April 29, 2006, the Company operated 726 stores compared with 651 stores as of April 30, 2005.
Joe Pennington, Chief Executive Officer, commented, "We are very pleased with April results as well as our overall spring season business trends. As evidenced by our combined same-store sales results for March and April, the improvements to our merchandise assortment that we implemented beginning with February 2006 deliveries are resonating very well with both our core customer base and incremental traffic we may not have attracted in the past. Our April merchandise margins were also favorably impacted by the positive customer reaction to our new merchandise assortment."
Financial Outlook
As a result of strong April performance, the Company is increasing its earnings guidance for its fiscal first quarter ending May 27, 2006, from $0.29 to $0.30 per diluted share to $0.34 to $0.35 per diluted share. First quarter guidance takes into account the impact of stock based compensation expense. In last year's first quarter, the Company earned $0.27 per diluted share. For the fiscal year ending March 3, 2007, the Company is increasing its earnings guidance from a range of $0.96 to $1.00 per diluted share to a range of $1.01 to $1.05 per diluted share. Full year earnings guidance includes approximately $0.07 per diluted share from the effect of expensing stock based compensation. In fiscal 2006, the Company earned $0.84 per diluted share.Comment
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May same store sales up 8% at CBK
El Guapo is pleased.
Christopher & Banks Corporation Reports May Sales Results
Thursday June 1, 7:30 am ET
May Same-Store Sales Increase 8%
Company Increases First Quarter and Full Year Fiscal 2007 Earnings Estimates
MINNEAPOLIS--(BUSINESS WIRE)--June 1, 2006--Christopher & Banks Corporation (NYSE: CBK - News) today reported total sales for the four-week period ended May 27, 2006 increased 19% to $46.6 million from $39.3 million in the same period last year. Same-store sales for the month of May rose 8%.
For the first quarter ended May 27, 2006, total sales increased 16% to $142.5 million from $122.7 million in the prior year period, while same-store sales increased 7%. During the first quarter, the Company opened 35 new stores and closed one store, bringing the total number of stores as of May 27, 2006 to 739 compared to 660 stores as of May 28, 2005.
Joe Pennington, Chief Executive Officer, commented, "Our 8% increase in May same-store sales exceeded internal expectations. Changes in our product assortment have been very well received by our customers, and we expect to report record first quarter earnings as a result of robust sales and strong merchandise margins."
Financial Outlook
Due to continued strong performance, the Company has increased its earnings guidance for its fiscal first quarter ended May 27, 2006, to $0.36 to $0.38 per diluted share from $0.34 to $0.35 per diluted share. First quarter guidance takes into account the impact of expensing stock based compensation. In last year's first quarter, the Company earned $0.26 per diluted share.
For the fiscal year ending March 3, 2007, the Company has increased its fiscal 2007 earnings guidance to $1.03 to $1.08 per diluted share from $1.01 to $1.05 per diluted share. Full year earnings guidance includes approximately $0.07 per diluted share from the effect of expensing stock based compensation. In fiscal 2006, the Company earned $0.84 per diluted share. Fiscal 2007 first quarter earnings will be reported after the market close on June 20, 2006.
About Christopher & Banks
Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing. The Company operates 739 stores in 45 states under the names: Christopher & Banks, C.J. Banks and Acorn. The Company currently has 513 Christopher & Banks stores, 198 C.J. Banks stores and 28 Acorn stores.
This release contains forward-looking statements regarding the Company's first quarter and fiscal 2007 earnings estimates. The achievement of such results is subject to certain risks and uncertainties, including changes in economic, market and weather conditions, the effect of consumer tastes and spending habits, the realization of expected economies gained through the use of private label and direct import merchandise, management of growth and other factors outside the Company's control, including factors discussed from time to time in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that may arise after the date hereof.Comment
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You Seeeees?
Christopher & Banks first quarter net up 57 percent
Tue Jun 20, 2006 4:14 PM ET
SAN FRANCISCO, June 20 (Reuters) - Women's clothing retailer Christopher & Banks Corp. <CBK.N> said on Tuesday that its first quarter net income rose 57 percent from the year ago, driven by better margins and increased sales.
The Minneapolis-based company said net income rose to $14.6 million, or 39 cents per share, for the first quarter ended May 27, from $9.3 million, or 26 cents per share in the year-ago quarter. Net sales increased 16 percent to $142.5 million.=============================
I am HUGE! Bring me your finest meats and cheeses.
- $$$MR. MARKET$$$Comment
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See what? That it's down 3.76% after hours. Yes, we seeeees.Comment
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I'm very pleased about CBK's earnings recovery...the trend is intact.=============================
I am HUGE! Bring me your finest meats and cheeses.
- $$$MR. MARKET$$$Comment
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up 1.5% today.....you sees?=============================
I am HUGE! Bring me your finest meats and cheeses.
- $$$MR. MARKET$$$Comment
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whoever sold at 27 this morning sure has to be kicking herself now.Comment
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They must be bullish!
UPDATE 1-Christopher & Banks raising payout 50 percent
Fri Jul 28, 2006 2:36pm ET
NEW YORK, July 28 (Reuters) - Retailer Christopher & Banks Corp. (CBK.N: Quote, Profile, Research) on Friday said its board authorized a 50 percent increase in its quarterly dividend and a stock buyback program worth up to $20 million, sending its shares up sharply.
Christopher & Banks, which sells women's clothing, raised its quarterly dividend to 6 cents per share from 4 cents and said it would be payable in the first week of October to shareholders of record on or about Sept. 18.
The Minneapolis-based company said the primary purpose of the stock repurchase plan will be to offset the dilutive impact of stock options and restricted stock grants which have been or may be granted to employees and independent directors.
The company's shares rose $1.71, or 6.5 percent, to $27.87 on the New York Stock Exchange.=============================
I am HUGE! Bring me your finest meats and cheeses.
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On our way boys!
Christopher & Banks July Sales Up
Thursday August 3, 8:57 am ET
Christopher & Banks July Same-Store Sales Rise 10 Percent, Prompting Outlook Increase
MINNEAPOLIS (AP) -- Christopher & Banks Corp., a women's clothing retailer, on Thursday said same-store sales, or sales at stores open at least a year, rose 10 percent and outpaced Wall Street expectations.
Analysts polled by Thomson Financial expected a same-store sales increase of 7.1 percent. In the year-ago period, the company saw flat same-store sales.
Total sales for the month grew 21 percent to $49.6 million from $41.1 million last year.
Christopher & Banks, which operates 743 stores in 45 states, also raised its earnings guidance for the fiscal second quarter ending Aug. 26 to a profit of 19 cents to 20 cents per share from earlier guidance of 17 cents to 19 cents per share.
For the fiscal year ending March 3, 2007, the company raised its earnings guidance to $1.08 to $1.11 per share, from $1.06 to $1.10 per share.
Analysts expect second-quarter and full-year earnings of 20 cents per share and $1.10 per share respectively.=============================
I am HUGE! Bring me your finest meats and cheeses.
- $$$MR. MARKET$$$Comment
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Awesome! 29 is back, 34 is just around the corner. This could even beat FRGB to the finish line...Comment
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