Christopher & Banks Corporation Reports Unaudited Consolidated Earnings Results for the Thirteen Weeks and Thirty-Nine Weeks Ended October 28, 2017; Revises Finance Guidance for the Fourth Quarter of 2017 and Provides Capex Guidance for the Fiscal 2018
For the thirty nine weeks, the company reported net sales of $273,642,000 against $296,625,000 a year ago. Operating loss was $12,956,000 against $1,095,000 a year ago. Loss before income taxes was $13,063,000 against $310,000 a year ago. Net loss was $13,199,000 or $0.36 per diluted share against $559,000 or $0.02 per diluted share a year ago. Net cash used in operating activities was $12,667,000 against $764,000 a year ago. Purchases of property, equipment and improvements were $4,447,000 against $8,770,000 a year ago. Adjusted LBITDA was $3,067,000 against adjusted EBITDA of $10,730,000 a year ago.
The company expects that the 53rd week will contribute sales of approximately $4.5 million and a net loss of $1.2 million or $0.03 per share to fourth quarter results. The company expects lower CapEx compared to previously guided to $6.5 million to $7.5 million in total CapEx, due to less investment in new stores as well as intention to leverage omnichannel capabilities that those investments are behind at this point in time.
The company expect a similar level of spend and that trend to continue into fiscal 2018.