- Net sales totaled $106.7 million, an increase of 2.9%, while operating on average 506 stores, compared to $103.6 million in net sales for the third quarter of fiscal 2015, while operating on average 533 stores.
- Comparable sales increased 4.5% compared to a 6.7% decrease in the same period last year.
- Gross margin rate increased 95 basis points to 36.8%, as compared to last year's third quarter.
- Net income totaled $3.5 million, or $0.09 per diluted share, compared to a net loss for the prior year period of $0.3 million, or a $0.01 loss per share.
- Adjusted EBITDA, a non-GAAP measure, was $6.7 million, compared to $3.8 million for the same period last year. The Company defines Adjusted EBITDA as Net income (loss), adjusted for Income tax provision (benefit); Other Income; Interest expense, net; Depreciation and Amortization; Impairment of store assets; and certain non-recurring items. *
- On-hand inventory, at cost, was down 3.8%, in line with the Company's expectations.
Christopher & Banks Corporation (NYSE:CBK), a specialty women's apparel retailer, today reported results for the third quarter ended October 29, 2016. Results for the Third Quarter Ended October 29, 2016