Christopher & Banks Earnings: Everything You Must Know Now
Christopher & Banks Corporation (NYSE:CBK) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Christopher & Banks Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.01 in the quarter versus EPS of $-0.06 in the year-earlier quarter.
Revenue: Rose 0.73% to $104.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Christopher & Banks Corporation reported adjusted EPS loss of $0.01 per share. By that measure, the company beat the mean analyst estimate of $-0.02. It missed the average revenue estimate of $105.37 million.
Quoting Management: LuAnn Via, President and Chief Executive Officer, commented, “We were pleased that for the quarter we were able to maintain our positive momentum, achieve solid financial results in a difficult retail environment and deliver our fifth consecutive quarter of positive same-store sales comps. We also exceeded our gross margin expectations and achieved our operating objectives. As we look to the second half of the year, we believe we are well positioned in our merchandising and marketing efforts, and our inventory levels remain fresh. We will also continue to build upon our strong foundation and refine our strategies as we gain greater insights into our customer in order to drive sustainable long-term sales and earnings growth.”
Key Stats (on next page)…