Christopher & Banks Corp (CBK)

Description:

Christopher & Banks Corporation is a Delaware Corporation, incorporated in 1986 to acquire Braun's Fashions, Inc., which had operated as a family-owned business since 1956. The Company became a publicly traded Corporation in 1992 and in July 2000, the Company's stockholders approved a change in the Company's name from Braun's Fashions Corporation to Christopher & Banks Corporation. The Company operates retail stores selling women's apparel in the United States. The Company operates in the retail apparel industry in which it design, source and sell women's apparel catering to customers generally ranging in age from 45 to 55 who are typically part of a segment of the female baby boomer demographic. It has two operating segments Christopher & Banks stores and C.J. Banks stores. Its Christopher & Banks and C.J. Banks operating segments have been aggregated into one reportable segment based on the similar nature of products sold, methods of sourcing, merchandising and distribution processes involved, target customers, and economic characteristics of the two operating segments. As of January 28, 2012, it operated 686 stores in 44 states, including 402 Christopher & Banks stores, 199 C.J. Banks stores, 62 dual-concept stores and 23 outlet stores. It also operates e-Commerce web sites for each of its brands at www.christopherandbanks.com and www.cjbanks.com. Its competitors include a broad range of national and regional retail chains that sell similar merchandise, including department stores, specialty stores, discount stores, mass merchandisers and Internet-based retailers. It is subject to numerous regulations and laws that govern its operations, marketing and sale of its merchandise, corporate structure, and financial controls and disclosures.