Christopher & Banks Corporation stock price

Christopher & Banks Corporation latest news:


  • 11/28/2017 07:01:47

    Christopher & Banks' stock soars after exploring sale, leaseback real estate deal

    Shares of Christopher & Banks Corp. soared 21% in premarket trade Tuesday, after the women's apparel retailer said it was exploring the sale and leaseback of its corporate facility in Minnesota. The company said it has engaged a "leading commercial real estate company" to solicit interest for a deal, which it believes would unlock additional capital and improve its liquidity position. The company estimates the value of the building to be in the low-to-mid-teen million dollar range. Separately, the company said it swung to a fiscal third-quarter net loss of $1.6 million, or 5 cents a share, from a profit of $3.5 million, or 9 cents a share, in the same period a year ago. Revenue fell 7.7% to $98.5 million from $106.7 million, as the number of stores operated declined 6% to 473. Same-store sales decreased 5.0%, after rising 4.5% a year ago, while e-commerce sales increased 8.5% after rising 16.3% last year. The stock had plunged 59% year to date through Monday, while the SPDR S&P Retail ETF has lost 5.6% and the S&P 500 had gained 16%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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