Christopher & Banks Corp. said late Thursday that cost controls and a renewed emphasis on value helped it post better-than-expected preliminary third-quarter results.
According to the Minneapolis-based firm, third-quarter earnings, which will be reported on Jan. 6, are expected to be between 19 cents and 21 cents a diluted share, which assumes an anticipated effective tax rate for the period of 22 percent. This compares with a 4-cent loss in the year-ago quarter. Sales are expected to total about $132 million, versus $143 million in 2008, as quarterly same-store sales slid 8.4 percent. Analysts projected a loss of 5 cents on sales of $123.9 million. Gross margin is expected to improve about 500 basis points from year-ago levels, to about 40.7 percent.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"