Christopher & Banks Corporation (CBK) 2014年年度报告「NYSE」.pdf

1、2014 annual reportWe continue to be optimistic about the multiple growth opportunities we have in front of us,despite the challenging retail environment we faced in 2014,including soft traffic and continued pressure on missy apparel discretionary spending.While we did not meet our overall financial

2、expectations for the year,there were,however,a number of key accomplishments,including:Continued repositioning of our store base to offer our full size ranges Missy,Petite,Women(“MPW”)through store openings and conversions,ending the year with 50%of our stores in the MPW format;Fifty-two of our stor

3、es reached or exceeded net sales of$1 million in fiscal 2014,which compares to only four$1.0 million stores in fiscal 2011;Increased operating income to$13.0 million(excluding the$3.6 million lease accounting correction we reported in the fourth quarter),compared to$8.9 million in fiscal 2013 and a(

4、$16.0)million operating loss in fiscal 2012.Balanced our casual merchandise assortments with wear-to-work options in both tops and bottoms,as well as introduced leisure and sport collections;and Expanded merchandise margins in every quarter as compared to the prior year,due to increased penetration

5、in key categories and basics,along with improved sourcing initiatives and controlled inventory.LOOKING TO FISCAL 2015,OUR TEAM IS FOCUSED INTENTLY ON IMPROVED FINANCIAL PERFORMANCE.At the core is increasing our loyal customers engagement and appealing to new customers.To that end,we will continue to

6、 optimize our real estate portfolio by migrating additional stores to the MPW format,intended to drive higher sales per square foot,higher gross margins and higher operating margins than our stand-alone stores.Additionally,there is significant growth opportunity in the Outlet business.These stores g