Q3 Earnings Sends Christopher & Banks Corporation Stock Skyward

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Christopher & Banks Corporation (NYSE:CBK) stock was flying high on Tuesday following the release of its earnings report for the third quarter of 2017.

Q3 Earnings Sends Christopher & Banks Corporation (CBK) Shares Skyward

During the third quarter of the year, Christopher & Banks Corporation reported losses per share of  5 cents. This is down from its earnings per share of 9 cents from the same time last year. However, it was still a boon to CBK stock by beating out Wall Street’s losses per share estimate of 8 cents for the quarter.

Christopher & Banks Corporation reported an operating loss of $1.54 million in its third quarter of 2017. This is down from its operating income of $3.62 million from the same period of the year prior.

Net loss reported by Christopher & Banks Corporation for the third quarter of the year was $1.62 million. The specialty retailer reported net income of $3.49 million during the same quarter of the previous year.

Christopher & Banks Corporation also reported revenue of $98.47 million in the third quarter of 2017. This is down roughly 8% from its revenue of $106.67 million reported in the third quarter of 2016. It also came in below analysts’ revenue estimate of $102.57 million for the third quarter of the year.

Comparable sales reported by Christopher & Banks Corporation for the third quarter of the year were down by 5%. The company saw its comparable sales increase by 4.5% during the same period of the prior year. However, e-commerce comparable sales were up 8.5% during the third quarter of 2017.

CBK stock was up 7% as of noon Tuesday, but is down 42% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/11/christopher-banks-corporation-stock-jumps/.

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