Why Christopher & Banks Corporation (CBK) Is Popping on Thursday

NEW YORK (TheStreet) -- Christopher & Banks Corporation (CBK) is popping on Thursday after reporting a narrower-than-expected net loss over its fourth quarter.

By midafternoon, shares had added 11.3% to $6.88.

The women's apparel retailer reported a net loss of a penny a share in the three months to Feb. 1. Analysts surveyed by Thomson Reuters had expected a net loss of 3 cents a share.

However, revenue of $104.9 million was 9.6% lower year over year and missed estimates by $1.22 million.

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Same-store sales fell 1.4% after a stellar 18.5% increase in same-store sales in the same period a year earlier.

"Despite the negative sales impact from temporary store closings and challenging traffic trends caused by the multiple snow storms and arctic temperatures during the fourth quarter, we met our quarterly financial goals," said CEO LuAnn Via in a statement.

"We were very pleased with the strong customer response to our merchandise offering and marketing efforts on days that were not adversely affected by weather."

Over its fiscal year, net income of 24 cents a share beat forecasts by 2 cents, while revenue of $435.75 million fell short by $1.23 million.

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