Christopher & Banks Corp. (CBK: Quote), a specialty women’s apparel retailer, announced that it now expects to report a comparable store sales increase in the high teens for the fourth fiscal quarter as compared to the company’s previous guidance of a comparable store sales increase in the high single to low double digits.
The company also announced that it expects cash and cash equivalents at the end of the fourth fiscal quarter to be in the range of $37 million to $38 million.
The company also reiterated its previous guidance that it expects merchandise margins in the fourth fiscal quarter to exceed those in the comparable period last year, but to be seasonally lower than the third fiscal quarter, consistent with the Company’s historical performance; and SG&A expenses for the fourth fiscal quarter, a 14-week period, to be in the range of $36 million to $37 million.
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by RTT Staff Writer
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