Christopher & Banks Sees 2% To 3% Sales Growth In FY19

(RTTNews) - Christopher & Banks Corp. (CBK) said that it expects net sales for fiscal 2019 to increase 2% to 3% as the result of expanded omnichannel capabilities, enhancements to the overall product assortment, and more impactful marketing promotions to drive customer file growth.

Comparable sales decreased 7.5% following a 5.0% decrease in the same period last year. eCommerce sales increased 10.7% following an 8.5% increase in the same period last year.

The company expects to end the fourth quarter with inventory down in the mid-single digits as compared to last year.

The company also announced that Carmen Wamre will be joining the Company December 10, 2018 as Senior Vice President, Chief Stores Officer. Wamre brings more than 28 years of retail experience to the Company including 19 years as Zone Vice President, Express, Inc. where she oversaw operations for 300 plus retail stores, $800M in annual sales and 8,000 plus field employees.