Friday, March 11, 2016

Another retailer with growing online sales and declining profits

Women’s apparel specialist Christopher & Banks saw its online sales surge in the fourth quarter, but it wasn’t enough to keep the company from posting an even bigger operating loss than it did the prior year.

Minneapolis-based Christopher Banks, operator of 514 stores, said its sales declined to $94.6 million in the quarter ended Jan. 30 from $98 million the prior year, as it operated fewer stores. Same-store sales declined 3.4% but online sales surged nearly 50%. The company reported an operating loss of roughly $7.4 million compared to a prior year operating loss of nearly $6 million.. . . more

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