Christopher & Banks Shares Plunge After Sales Miss Estimates
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Christopher & Banks Corp., a women’s apparel retailer, plunged as much as 55 percent after saying it didn’t expect to meet its full-year forecasts and posting preliminary second-quarter sales that missed estimates.
Net sales in the second-quarter were about $94 million, the Plymouth, Minnesota-based company said in a statement Thursday. Analysts had estimated $102.3 million on average. Christopher & Banks also said comparable-store sales fell about 12.4 percent in the quarter.