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Stock Market & Financial Investment News

News Breaks
June 10, 2014
12:19 EDTNWY, CBK, ANN, CHS Christopher & Banks rallies after better than expected results
Shares of women's retailer Christopher & Banks (CBK) are rising after the company's first quarter quarter results topped analysts' consensus estimates, and it confirmed it was on track to deliver on its three-year growth plan. WHAT'S NEW: This morning, Christopher & Banks reported Q1 earnings per share of 7c and revenue of $103.4M, topping estimates of 2c and $103.23M, respectively. Q1 same store sales fell 0.2%. WHAT'S NOTABLE: The company forecast Q2 SSS up in the low to mid single digit range and approximately 100 to 150 bps of gross margin improvement, as compared to the comparable prior year period, largely driven by improved merchandise margins. LuAnn Via, President and CEO, commented, "Looking ahead, additional opportunities to enhance our merchandise offering, further engage our customer and broaden our reach with our marketing programs are expected to result in continued improvement in store productivity. We also plan to accelerate our MPW strategy and end the year with approximately 190 locations in this format, as these stores continue to deliver strong returns. Overall, we are well-positioned to meet our financial goals for the year, and are on track to deliver on our three-year growth plan.” PRICE ACTION: In early afternoon trading, Christopher & Banks rose 70c, or 10.53%, to $7.35 on nearly three times its average daily trading volume. Including today's advance, the stock is up approximately 4% over the past 12 months. OTHERS TO WATCH: Other women's retailers include Chico's FAS (CHS), which is up almost 9% after announcing it was exploring a sale to private equity firms, Ann Inc (ANN), and New York & Company (NWY).
News For CBK;CHS;ANN;NWY From The Last 14 Days
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July 20, 2015
07:31 EDTCBKChristopher & Banks responds to recent shareholder inquiry
Christopher & Banks Corporation on July 8 received a letter from the Macellum Advisors GP seeking certain of the company’s books and records in connection with transactions in our stock in 2014 by four of our directors. Subsequently, Macellum publicly disclosed that request in connection with a Schedule 13D filing. The company issued the following statement: The company is in the process of complying with the books and records demand pursuant to applicable law. The sales of CBK stock by three of the company’s directors in September 2014 questioned by Macellum were all promptly made following the company’s earnings announcement in September 2014. In each case, the trade was pre-cleared pursuant to the company’s stock trading policy. The fourth director did not sell his shares but rather transferred shares to his former spouse in accordance with the terms of his divorce decree. The company is confident that an objective review of the facts will reflect that there were no violations of law by any of these directors.

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