- Christopher & Banks (NYSE:CBK) reports comparable sales rose 5.7% in Q4.
- E-commerce sales increased 11.6% for the period.
- Gross margin rate expanded 240 bps to 27.2%, reflects an improved merchandise margin rate.
- SG&A expense rate leveraged 730 bps to 34.1%.
- Joel Waller, Interim President and Chief Executive Officer, commented, “We ended the year on a strong note, illustrating the significant progress that we have made across a number of strategic initiatives. We took steps centered around merchandising, marketing, eCommerce, and store operations to stabilize the business and position us to drive more consistent financial performance. For the fourth quarter, we delivered strong comparable sales growth and expanded gross margin, and ended the year with a well-balanced assortment in terms of fashion content, size ranges and newness. We look forward to working with Keri Jones, our recently appointed Chief Executive Officer, as we continue to leverage the strong foundation we have established to drive sustainable long-term growth.”
- Now read: Abercrombie & Fitch 2017 Q4 - Results - Earnings Call Slides
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