Christopher & Banks Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended February 2, 2019; Reiterates Earnings Guidance for the Year 2019; Reports Impairment Results for the Fourth Quarter Ended February 2, 2019
For the year, the company reported net sales of $348,900,000 as compared to $365,906,000 for the same period last year. Operating loss was $32,282,000 as compared to $22,643,000 for the same period last year. Net loss was $32,839,000 as compared to $22,024,000 for the same period last year. Basic net loss per share was $0.88 as compared to $0.59 for the same period last year.
The company expects sales to increase 2% to 3% for the year 2019 as the result of expanded omni-channel capabilities, enhancements to the overall product assortment, and more impactful marketing promotions to drive customer file growth.
For the quarter, the company reported impairment of long-lived assets of $1,385,000 as compared to $155,000 for the same period last year.