Christopher & Banks profit off 20% (Star Tribune)

Christopher & Banks Corporation’s fiscal first-quarter net income fell 20 percent, to $11.7 million, or 32 cents a share, from $14.6 million, or 39 cents a share, a year earlier. Total sales for the Plymouth-based women’s retailer rose 5 percent for the quarter ended June 2, to $149.4 million, from $142.5 million for the year-ago period. Analysts surveyed by Thomson First Call expected, on average, per-share earnings of 30 cents on revenue of $149 million. Same-store sales, generally defined as sales at stores open at least a year, fell 4 percent. Citing merchandise clearance activity,