UPDATE 2-Christopher & Banks posts wider-than-expected Q4 loss

Thu Apr 9, 2009 11:38pm BST
 
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* Posts Q4 adj loss $0.65/shr vs est $0.64/shr

* Q4 rev $103.9 mln vs est $104.1 mln

* Same-store sales down 20 pct

* Halves capital expenditure for 2010

* Says will close 15 to 20 stores in FY10 (Adds conference call details)

April 9 (Reuters) - Women's apparel retailer Christopher & Banks Corp (CBK.N) posted a wider-than-expected quarterly loss as sales fell due to tightened consumer spending, and it said it would not provide earnings-per-share outlook at this time.

"Our core customer has been spending very sparingly on her wardrobe for the past six months, yet we remain confident that we are well capitalized to outlast this recession," Chief Executive Lorna Nagler said.

For the fourth quarter ended Feb. 28, the Plymouth, Minnesota-based company posted a loss of $28.8 million, or 82 cents a share, compared with a loss of $8.2 million, or 6 cents a share, in the year-ago period.

Revenue fell to $103.9 million from $122.3 million in the year-ago quarter.  Continued...

 

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