Christopher & Banks (CBK) Trading Down 18.8% on Disappointing Earnings
Shares of Christopher & Banks Co. (NYSE:CBK) fell 18.8% on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $0.36 and last traded at $0.39. 987,021 shares were traded during trading, an increase of 650% from the average session volume of 131,600 shares. The stock had previously closed at $0.48.
The specialty retailer reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.13). The business had revenue of $91.29 million for the quarter. Christopher & Banks had a negative net margin of 6.37% and a negative return on equity of 45.54%. During the same quarter in the prior year, the firm earned ($0.05) earnings per share.
Several brokerages have weighed in on CBK. Zacks Investment Research downgraded Christopher & Banks from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. ValuEngine downgraded Christopher & Banks from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th.
The company has a market capitalization of $17.58 million, a P/E ratio of -0.67 and a beta of 3.25.
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About Christopher & Banks (NYSE:CBK)
Christopher & Banks Corporation, through its subsidiaries, operates as a specialty retailer of private-brand women's apparel and accessories in the United States. The company designs and sells women's apparel and accessories to customers ranging in age from 40 and older. Its stores offer women's apparel consisting of casual clothing, everyday basics, wear-to-work, leisure/active wear, and sleepwear in missy, petite, and women sizes, as well as jewelry and accessories.
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