Christopher & Banks Closes 100 Stores, Cuts Workforce

Christopher & Banks will close approximately 100 of its 761 stores by the end of January 2012, and accelerate plans to convert or consolidate a number of its existing Christopher & Banks and CJ Banks stores into dual format stores in a bid to return to profitable operations. The specialty women's apparel retailer has posted net losses in four of the past five quarters. In Q2 2011, net sales of $96.2 million represented a 5% decrease from the same period the previous year, with comp store sales declining 8%. Announcing the store closings, CEO Larry Barenbaum outlined the retailer's