Christopher & Banks Comps Slip

MINNEAPOLIS-Same-store sales at women’s apparel retailer Christopher & Banks fell 2% year over year during the company’s second quarter, which ended Nov. 26. However, the clothier’s net income jumped 14%, to $8.7 million, and net sales rose 8%, to $130.5 million.

The same-store sales drop was due to a decrease in the number of transactions, which fell 6% from the same year-ago period. Executives predict that the company will turn in a flat-to-2% performance during this month’s sales period.

One-to-two store closings are predicted for the rest of the fiscal year, and no new stores are in the works during the fourth quarter. For next year, executives forecast increasing the 504-store namesake chain, which targets women ages 40 to 60, by 35 to 40 units. C.J. Banks, a 179-store chain that caters to sizes 14 and up, will open 40 to 45 locations. Acorn, a concept with 24 stores that the company acquired last year, is adding 10 to 15 units.