Christopher & Banks Q3 FY20 gross sales fall 22.6% to $73 mn


Christopher & Banks Corp, a US-based specialty ladies’s attire retailer, has reported 22.6 per cent gross sales decline to $72.eight million in its third quarter (Q3) for fiscal 2020 ended on October 31, in comparison with the gross sales of $94.zero million in the identical interval earlier 12 months. Firm incurred a internet loss throughout Q3 of $zero.three million (Q3 FY19: earnings $zero.01 million).

 

“Whereas we noticed sequential enchancment in our gross sales tendencies within the third quarter, outcomes didn’t meet our expectations. We have now not seen the extent of gross sales restoration that we had anticipated,” Keri Jones, president and chief government officer at Christopher & Banks, stated in a press launch.

 

“Quarter-to-date, tendencies have remained in keeping with our third quarter efficiency. Because of our expectation that Covid will proceed to negatively impression gross sales over the subsequent a number of months, we made the choice to interact exterior advisors, together with an funding banker, as we work to refinance our debt and discover different strategic options,” Jones stated.

 

E-commerce gross sales jumped 32.four per cent through the quarter. Nevertheless, gross revenue dropped to $17.9 million ($31.9 million). Promoting, normal and administrative bills for Q3 FY20 had been $26.three million ($29.2 million). Firm’s working loss was $10.5 million ($zero.6 million).

 

“Whereas Covid has had an outsized impression on the shopper demographic we serve, we consider that when we enter the post-pandemic world, she is going to return to her trusted useful resource for vogue, high quality and worth,” Jones stated within the launch.

Fibre2Fashion Information Desk (JL)

Christopher & Banks Corp, a US-based specialty ladies’s attire retailer, has reported 22.6 per cent gross sales decline to $72.eight million in its third quarter (Q3) for fiscal 2020 ended on October 31, in comparison with the gross sales of $94.zero million in the identical interval earlier 12 months. Firm incurred a internet loss throughout Q3 of $zero.three million (Q3 FY19: earnings $zero.01 million).





Supply hyperlink

Leave a Reply

Your email address will not be published. Required fields are marked *

Leave a comment
scroll to top