Christopher & Banks quarterly profit more than doubles

Minneapolis -- Christopher & Banks Corp. reported that net income for the quarter ended Nov. 2 rose to $8.6 million, from $3.6 million in the same period last year.

Sales edged up to $118.1 million from $117.3 million, and same-store sales increased 4.9%.

During the quarter, the retailer operated an average of 7.3% fewer stores than during the comparable period last year, reflecting its store rationalization program.

“We attribute our positive performance to the continued refinement of our merchandise strategy, greater focus on targeted marketing programs, optimization of our multi-channel opportunities and our enhanced store experience,” said LuAnn Via, president and CEO.

For the fourth quarter of fiscal 2013, the company said it expects same-store sales to increase in the low single digit range as compared to the same period last year.

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