Exhibit 99.1
Christopher & Banks Corporation
Schedule of Unaudited Financial and Operational Data for the
Periods Ended April 30, 2011, July 30, 2011, October 29, 2011 and January 28, 2012
In January 2012, the Company changed its fiscal year end to the close of business on the Saturday closest to the last day of January. Previously, the Company’s fiscal year ended at the close of business on the Saturday closest to the last day of February. As a result of the change the Company had an eleven month (48 week) transition period that ended on January 28, 2012 (the “Transition Period”). In its earnings press releases for the quarters ending April 28, 2012, July 28, 2012, October 27, 2012 and February 2, 2013, the Company plans to provide unaudited financial and operational data for the periods ended April 30, 2011, July 30, 2011, October 29, 2011 and January 28, 2012.
In advance of reporting the comparable financial and operational data in its quarterly earnings press releases for the quarters ending April 28, 2012, July 28, 2012, October 27, 2012 and February 2, 2013, the Company is furnishing a Schedule of Unaudited Financial and Operational Data for the periods ended April 30, 2011, July 30, 2011, October 29, 2011 and January 28, 2012 (collectively, the “Schedule of Unaudited Financial and Operational Data”). The Schedule of Unaudited Financial and Operational Data presents financial information determined in accordance with U.S. generally accepted accounting principles. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted. The Schedule of Unaudited Financial and Operational Data should be read in conjunction with the audited financial statements and related notes included in our Transition Report on Form 10-K for the Transition Period ended January 28, 2012.
The Schedule of Unaudited Financial and Operational Data is not intended as a substitute for the quarterly and year-to-date financial statements for the periods ended April 30, 2011, July 30, 2011, October 29, 2011 and January 28, 2012 that are intended to be reported in the Company’s earnings press releases for the periods ending April 28, 2012, July 28, 2012, October 27, 2012 and February 2, 2013. Although the Company currently expects that the information for the periods ended April 30, 2011, July 30, 2011, October 29, 2011 and January 28, 2012 to be provided in conjunction with the Company’s earnings press releases for the quarters ending April 28, 2012, July 28, 2012, October 27, 2012 and February 2, 2013 will be consistent with the information presented in the Schedule of Unaudited Financial and Operational Data, differences may arise between the Schedule of Unaudited Financial and Operational Data and the information for the periods ended April 30, 2011, July 30, 2011, October 29, 2011 and January 28, 2012 to be provided in conjunction with the Company’s earnings press releases for the quarters ending April 28, 2012, July 28, 2012, October 27, 2012 and February 2, 2013.
Christopher & Banks Corporation
Schedule of Unaudited Financial and Operational Data
For the Periods Ended April 30, 2011, July 30, 2011, October 29, 2011 and January 28, 2012
(in thousands, except per share data)
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| Three |
| Three |
| Three |
| Three |
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| Months |
| Months |
| Months |
| Months |
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| Ended |
| Ended |
| Ended |
| Ended |
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| April 30, |
| July 30, |
| October 29, |
| January 28, |
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| 2011 |
| 2011 |
| 2011 |
| 2012 |
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Quarterly Operating Statement Data: |
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Net sales |
| $ | 110,404 |
| $ | 105,578 |
| $ | 114,553 |
| $ | 105,647 |
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Costs and expenses: |
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Merchandise, buying and occupancy |
| 78,220 |
| 71,426 |
| 85,473 |
| 98,169 |
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Selling, general and administrative |
| 35,094 |
| 34,077 |
| 37,319 |
| 35,335 |
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Depreciation and amortization |
| 5,364 |
| 6,352 |
| 5,754 |
| 4,521 |
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Impairment and restructuring |
| — |
| — |
| — |
| 21,183 |
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Total costs and expenses |
| 118,678 |
| 111,855 |
| 128,546 |
| 159,208 |
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Operating loss |
| (8,274 | ) | (6,277 | ) | (13,993 | ) | (53,561 | ) | ||||
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Other income |
| 95 |
| 68 |
| 111 |
| 86 |
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Loss before income taxes |
| (8,179 | ) | (6,209 | ) | (13,882 | ) | (53,475 | ) | ||||
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Income tax provision (benefit) |
| 1 |
| (7 | ) | (133 | ) | (251 | ) | ||||
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Net loss |
| $ | (8,180 | ) | $ | (6,202 | ) | $ | (13,749 | ) | $ | (53,224 | ) |
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Basic loss per share: |
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Net loss |
| $ | (0.23 | ) | $ | (0.18 | ) | $ | (0.39 | ) | $ | (1.50 | ) |
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Basic shares outstanding |
| 35,467 |
| 35,496 |
| 35,578 |
| 35,581 |
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Diluted loss per share: |
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Net loss |
| $ | (0.23 | ) | $ | (0.18 | ) | $ | (0.39 | ) | $ | (1.50 | ) |
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Diluted shares outstanding |
| 35,467 |
| 35,496 |
| 35,578 |
| 35,581 |
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Dividends per share |
| $ | 0.06 |
| $ | 0.06 |
| $ | 0.06 |
| $ | — |
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Christopher & Banks Corporation
Schedule of Unaudited Financial and Operational Data
For the Periods Ended April 30, 2011, July 30, 2011, October 29, 2011 and January 28, 2012
(in thousands, except per share data)
|
| Three |
| Six |
| Nine |
| Twelve |
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| Months |
| Months |
| Months |
| Months |
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| Ended |
| Ended |
| Ended |
| Ended |
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| April 30, |
| July 30, |
| October 29, |
| January 28, |
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| 2011 |
| 2011 |
| 2011 |
| 2012 |
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Year-to-Date Operating Statement Data: |
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Net sales |
| $ | 110,404 |
| $ | 215,982 |
| $ | 330,535 |
| $ | 436,182 |
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Costs and expenses: |
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Merchandise, buying and occupancy |
| 78,220 |
| 149,646 |
| 235,119 |
| 333,288 |
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Selling, general and administrative |
| 35,094 |
| 69,171 |
| 106,490 |
| 141,825 |
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Depreciation and amortization |
| 5,364 |
| 11,716 |
| 17,470 |
| 21,991 |
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Impairment and restructuring |
| — |
| — |
| — |
| 21,183 |
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Total costs and expenses |
| 118,678 |
| 230,533 |
| 359,079 |
| 518,287 |
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Operating loss |
| (8,274 | ) | (14,551 | ) | (28,544 | ) | (82,105 | ) | ||||
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Other income |
| 95 |
| 163 |
| 274 |
| 360 |
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Loss before income taxes |
| (8,179 | ) | (14,388 | ) | (28,270 | ) | (81,745 | ) | ||||
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Income tax provision (benefit) |
| 1 |
| (6 | ) | (139 | ) | (390 | ) | ||||
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Net loss |
| $ | (8,180 | ) | $ | (14,382 | ) | $ | (28,131 | ) | $ | (81,355 | ) |
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Basic loss per share: |
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Net loss |
| $ | (0.23 | ) | $ | (0.41 | ) | $ | (0.79 | ) | $ | (2.29 | ) |
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Basic shares outstanding |
| 35,467 |
| 35,491 |
| 35,527 |
| 35,547 |
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Diluted loss per share: |
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Net loss |
| $ | (0.23 | ) | $ | (0.41 | ) | $ | (0.79 | ) | $ | (2.29 | ) |
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Diluted shares outstanding |
| 35,467 |
| 35,491 |
| 35,527 |
| 35,547 |
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Dividends per share |
| $ | 0.06 |
| $ | 0.12 |
| $ | 0.18 |
| $ | 0.18 |
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Christopher & Banks Corporation
Schedule of Unaudited Financial and Operational Data
As of April 30, 2011, July 30, 2011, October 29, 2011 and January 28, 2012
|
| April 30, |
| July 30, |
| October 29, |
| January 28, |
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|
| 2011 |
| 2011 |
| 2011 |
| 2012 |
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Balance Sheet Data |
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(at end of each period in thousands): |
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Cash, cash equivalents and short-term investments |
| $ | 67,619 |
| $ | 66,564 |
| $ | 46,415 |
| $ | 48,442 |
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Merchandise inventory |
| 35,890 |
| 39,688 |
| 65,349 |
| 39,455 |
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Long-term investments |
| 25,771 |
| 29,299 |
| 18,143 |
| 13,284 |
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Total assets |
| 224,606 |
| 226,719 |
| 218,194 |
| 166,016 |
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Long-term debt |
| — |
| — |
| — |
| — |
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Stockholders’ equity |
| 164,141 |
| 157,748 |
| 141,747 |
| 89,362 |
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Working capital |
| 87,457 |
| 78,719 |
| 76,111 |
| 45,160 |
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Selected Operating Data: |
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Same-store sales increase (decrease) for the quarter (13 weeks) ended (1) |
| (2 | )% | (7 | )% | 8 | % | (18 | )% | ||||
Stores at end of period |
| 770 |
| 772 |
| 776 |
| 686 |
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(1) Same store sales data is calculated based on the change in net sales for stores that have been open for more than 13 full months and includes stores, if any, that have been relocated within the same mall. Stores where square footage has been changed by more than 25 percent are excluded from the same store sales calculation for 13 full months following the change in square footage. Stores closed during the year are included in the same store sales calculation only for the full months of the year during which the stores were open. In addition, sales which are initiated in stores, but fulfilled through our e-commerce websites, are included in the calculation of same store sales.