US-based women’s wear speciality retailer, Christopher & Banks has roped in Carmen Wamre as Senior Vice President of the company amidst its supply chain issues that resulted in a disappointing third quarter for the retailer.
It is important to add here Carmen brings on board a retail experience of more than 20 years at Express, where she was overlooking operations for over 300 retail outlets.
The retailer is eyeing to shutter down 30 to 40 stores as it looks for improvement in its quarterly results, Richard Bundy, CFO, Christopher & Banks said.
Notably, the third quarter results saw the retailer’s sales fell by 7.3 per cent to US $ 91.3 million, while comparable sales also dropped by 7.5 per cent, resulting in a quarterly loss of US $ 8.8 million. However, the retailer registered e-commerce performance yielding a positive result, posting a surge of 10.7 per cent during the said period.
“Christopher & Banks is focussing on enhancing their merchandising strategy, creating a ‘more impactful’ marketing approach and boosting its omnichannel capabilities while implementing process improvement initiatives and reducing costs.” – Keri Jones, President & CEO, Christopher & Banks elucidated.
Furthermore, citing the declining sales, the American apparel retailer is expecting its net sales to register a hike of 2 to 3 per cent for 2019 fiscal.
