Christopher & Banks Corporation Announces Engagement of Real Estate Consultant and New Director-Nominee
- Engagement of Nationally Recognized Real Estate Consultant Targeted
with Goal of Additional Annualized Occupancy Savings of
$4 to $7 million–
- Reiterates Full Year Guidance for Fiscal 2019 –
Allison Wingwill be a Director-Nominee at 2019 Annual Meeting of Stockholders –
The Company also announced that it reiterates its full year guidance for fiscal 2019 based on the recent improvement in comparable sales trends and continued traction from ongoing initiatives.
For the full year of Fiscal 2019, the Company continues to expect:
- Net sales growth of 2% to 3%;
- Gross margin expansion of 300 to 350 basis points;
- SG&A as a percentage of sales to decline 150 to 200 basis points; and
- Inventory turns to improve as compared to fiscal 2018.
The Company also announced that the Board of Directors has nominated
Ms. Wing is currently the Chief Marketing/Digital Officer for
“Ali will bring extensive experience and knowledge of digital marketing, omni-channel retail and customer insights to our Board of Directors”, said Ms. Jones. “Her perspective and guidance will be a tremendous asset to our business”.
About Christopher & Banks
Keywords: Christopher & Banks, CJ Banks, Women’s Clothing, Plus Size Clothing, Petites, Extended Sizes, Outfits.
Certain statements in this press release may constitute forward-looking statements, made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect our current views with respect to certain events that could have an effect on our future performance. The forward-looking statements relate to expectations concerning matters that are not historical facts and may use the words “will”, "expect", "anticipate", "plan", "intend", "project", "believe", “should”, "drive" "in order to" and similar expressions.Except for historical information, matters discussed in this press release may be considered forward-looking statements.
These forward-looking statements are based largely on information currently available to our management and our current expectations, assumptions, plans, estimates, judgments and projections about our business and our industry, and are subject to a number of uncertainties and risks, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause the Company's future performance and financial results to differ materially from those expressed or implied by the forward-looking statements.We cannot guarantee their accuracy or our future performance, and there are a number of known and unknown risks, uncertainties, contingencies, and other factors (many of which are outside our control) that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.Accordingly, there is no assurance that our expectations will, in fact, be achieved or that our estimates or assumptions will be correct, and we caution investors and all others not to place undue reliance on such forward-looking statements.
Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include, but are not limited to, those factors described in Item 1A, “Risk Factors” and in the “Forward-Looking Statements” disclosure in Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our latest annual report on Form 10-K.All forward-looking statements that are made or attributable to us are expressly qualified in their entirety by this cautionary notice.The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that projected results expressed or implied in such statements will not be realized.
President and Chief Executive Officer