0000883943-13-000008.txt : 20130325 0000883943-13-000008.hdr.sgml : 20130325 20130325171158 ACCESSION NUMBER: 0000883943-13-000008 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20130325 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130325 DATE AS OF CHANGE: 20130325 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHRISTOPHER & BANKS CORP CENTRAL INDEX KEY: 0000883943 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-WOMEN'S CLOTHING STORES [5621] IRS NUMBER: 061195422 STATE OF INCORPORATION: DE FISCAL YEAR END: 0128 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-31390 FILM NUMBER: 13714734 BUSINESS ADDRESS: STREET 1: 2400 XENIUM LANE NORTH CITY: PLYMOUTH STATE: MN ZIP: 55441-3626 BUSINESS PHONE: 6125515000 MAIL ADDRESS: STREET 1: 2400 XENIUM LN NORTH CITY: PLYMOUTH STATE: MN ZIP: 55441-3626 FORMER COMPANY: FORMER CONFORMED NAME: BRAUNS FASHIONS CORP DATE OF NAME CHANGE: 19930328 8-K/A 1 form8-ka32513.htm 8-K/A Form 8-K/A 3.25.13


UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 8-K/A
(Amendment No. 1)
 
CURRENT REPORT
 
PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934
 
Date of Report:  March 13, 2013

(Date of earliest event reported)
 
CHRISTOPHER & BANKS CORPORATION
(Exact name of registrant as specified in its charter)
 
Delaware

(State or other jurisdiction of incorporation)
 
001-31390
 
06-1195422
(Commission file number)
 
(IRS Employer Identification No.)
 
2400 Xenium Lane North

Plymouth, Minnesota 55441

(Address of principal executive offices, including zip code)
 
(763) 551-5000

(Registrant’s telephone number, including area code)
 
Not Applicable

(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))






SECTION 2 - FINANCIAL INFORMATION
 
Item 2.02 Results of Operations and Financial Condition

Due to an administrative error, an incorrect version of the Unaudited Comparative Statements of Operations and the Unaudited Comparative Statements of Cash Flows financial tables accompanying the press release issued by Christopher & Banks Corporation (the "Company") on March 13, 2013 was furnished as part of Exhibit 99.1 to the Company's Current Report on Form 8-K filed on that date with the Securities and Exchange Commission (the "Original Filing"). The Company is filing this Current Report on Form 8-K/A in order to furnish the correct version of such financial tables as issued by the Company on March 13, 2013. All other information in the Original Filing remains unchanged.
 
SECTION 9 - FINANCAL STATEMENTS AND EXHIBITS

Item 9.01 Financial Statements and Exhibits.
 
(a) None

(b) None

(c) None

(d)  Exhibits
 
99.1

 
Christopher & Banks Corporation Unaudited Comparative Statements of Operations for the Fourteen Weeks Ended February 2, 2013; Thirteen Weeks Ended January 28, 2012; Nine Weeks Ended January 28, 2012; Fifty-Three Weeks Ended February 2, 2013; Fifty-Two Weeks Ended January 28, 2012 and Forty-Eight Weeks Ended January 28, 2012
99.2

 
Christopher & Banks Corporation Unaudited Comparative Statement of Cash Flows for the Fifty-Three Weeks Ended February 2, 2013 and the Forty-Eight Weeks Ended January 28, 2012


2


SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
CHRISTOPHER & BANKS CORPORATION
 
 
 
 
 
 
Date: March 25, 2013
By:
/s/ Peter G. Michielutti
 
 
Senior Vice President,
 
 
Chief Financial Officer



3


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

CHRISTOPHER & BANKS CORPORATION
EXHIBIT INDEX TO FORM 8-K/A


Date of Report
Commission File No.:
March 25, 2013
001-31390

CHRISTOPHER & BANKS CORPORATION

Exhibit Number
 
Description
 
 
 
99.1
 
Christopher & Banks Corporation Unaudited Comparative Statements of Operations for the Fourteen Weeks Ended February 2, 2013; Thirteen Weeks Ended January 28, 2012; Nine Weeks Ended January 28, 2012; Fifty-Three Weeks Ended February 2, 2013; Fifty-Two Weeks Ended January 28, 2012 and Forty-Eight Weeks Ended January 28, 2012
99.2
 
Christopher & Banks Corporation Unaudited Comparative Statement of Cash Flows for the Fifty-Three Weeks Ended February 2, 2013 and the Forty-Eight Weeks Ended January 28, 2012



4
 EX-99.1 2 ex9918-ka32513.htm EXHIBIT Ex. 99.1 8-K/A (3.25.13)


EXHIBIT 99.1

CHRISTOPHER & BANKS CORPORATION
UNAUDITED COMPARATIVE STATEMENTS OF OPERATIONS(1) 
(in thousands, except per share data)

 
 
 
Fourteen
 
Thirteen
 
Nine
 
Fifty-Three
 
Fifty-Two
 
Forty-Eight
 
 
 
Weeks Ended
 
Weeks Ended
 
Weeks Ended
 
Weeks Ended
 
Weeks Ended
 
Weeks Ended
 
 
 
February 2,
 
January 28,
 
January 28,
 
February 2,
 
January 28,
 
January 28,
 
 
 
2013
 
2012
 
2012
 
2013
 
2012
 
2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
$
115,981

 
$
105,647

 
$
68,838

 
$
430,302

 
$
436,182

 
$
412,796

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Merchandise, buying and occupancy
81,009

 
98,169

 
65,640

 
303,680

 
333,288

 
311,925

 
Selling, general and administrative
34,777

 
35,335

 
23,772

 
129,153

 
141,825

 
131,259

 
Depreciation and amortization
4,211

 
4,521

 
3,043

 
18,595

 
21,991

 
20,202

 
Impairment and restructuring
—

 
21,183

 
8,978

 
(5,161
)
 
21,183

 
21,183

 
 
Total costs and expenses
119,997

 
159,208

 
101,433

 
446,267

 
518,287

 
484,569

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating loss
(4,016
)
 
(53,561
)
 
(32,595
)
 
(15,965
)
 
(82,105
)
 
(71,773
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other expense (income)
110

 
(86
)
 
(66
)
 
14

 
(360
)
 
(324
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loss before income taxes
(4,126
)
 
(53,475
)
 
(32,529
)
 
(15,979
)
 
(81,745
)
 
(71,449
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income tax (benefit) provision
(76
)
 
(251
)
 
(798
)
 
97

 
(390
)
 
(387
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss
$
(4,050
)
 
$
(53,224
)
 
$
(31,731
)
 
$
(16,076
)
 
$
(81,355
)
 
$
(71,062
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic loss per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss
$
(0.11
)
 
$
(1.50
)
 
$
(0.89
)
 
$
(0.45
)
 
$
(2.29
)
 
$
(2.00
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic shares outstanding
35,883

 
35,581

 
35,582

 
35,694

 
35,547

 
35,554

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted loss per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income loss
$
(0.11
)
 
$
(1.50
)
 
$
(0.89
)
 
$
(0.45
)
 
$
(2.29
)
 
$
(2.00
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted shares outstanding
35,883

 
35,581

 
35,582

 
35,694

 
35,547

 
35,554

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends per share
$
—

 
$
—

 
$
—

 
$
—

 
$
0.18

 
$
0.18

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) 
In January 2012, the Company changed its fiscal year end to the Saturday closest to the end of January from the Saturday closest to the end of February. The Company has provided financial results for the thirteen and fifty-two weeks ended January 28, 2012 on a comparable basis to the fourteen and fifty-three weeks ended February 2, 2013. The Company's prior year fourth quarter and full fiscal year included the nine and forty-eight weeks ended January 28, 2012.




 EX-99.2 3 ex9928-ka32513.htm EXHIBIT Ex. 99.2 8-K/A (3.25.13)


EXHIBIT 99.2

CHRISTOPHER & BANKS CORPORATION
UNAUDITED COMPARATIVE STATEMENTS OF CASH FLOWS
(in thousands)
 
 
 
 
Fifty-Three
 
Forty-Eight
 
 
 
 
Weeks Ended
 
Weeks Ended
 
 
 
 
February 2,
 
January 28,
 
 
 
 
2013
 
2012
Cash flows from operating activities:
 
 
 
 
 
Net loss
 
$
(16,076
)
 
$
(71,062
)
 
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
 
 
 
 
 
 
Depreciation and amortization
 
18,595

 
20,202

 
 
Impairment of store assets
 
424

 
11,445

 
 
Amortization of premium on investments
 
(444
)
 
74

 
 
Amortization of financing costs
 
35

 
—

 
 
Deferred lease related liabilities(1)
 
(7,216
)
 
(6,599
)
 
 
Stock-based compensation expense
 
2,308

 
2,770

 
Loss on disposal of assets
 
52

 
106

 
 
Gain on investments, net
 
(76
)
 
(122
)
 
Changes in operating assets and liabilities:
 
 
 
 
 
 
Decrease in accounts receivable
 
19

 
318

 
 
Increase in merchandise inventories
 
(3,249
)
 
(244
)
 
 
Increase in prepaid expenses and other current assets
 
(3,535
)
 
(1,300
)
 
 
Decrease in income taxes receivable
 
783

 
5,113

 
 
Decrease in other assets
 
180

 
48

 
 
Increase in accounts payable(1)
 
2,952

 
2,497

 
 
(Decrease) increase in accrued liabilities(1)
 
(3,871
)
 
3,455

 
 
(Decrease) increase in lease termination liabilities
 
(8,032
)
 
8,032

 
 
Decrease in other liabilities
 
(290
)
 
(613
)
 
 
  Net cash used in operating activities
 
(17,441
)
 
(25,880
)
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
Purchases of property, equipment and improvements
 
(3,623
)
 
(11,742
)
 
Proceeds from sale of furniture, fixtures and equipment
 
35

 
143

 
Purchases of available-for-sale investments
 
—

 
(35,713
)
 
Redemptions of available-for-sale investments
 
21,403

 
76,827

 
 
Net cash provided by investing activities
 
17,815

 
29,515

 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
Financing costs
 
(350
)
 
—

 
Shares redeemed for payroll taxes
 
(67
)
 
(139
)
 
Dividends paid
 
—

 
(6,426
)
 
 
Net cash used in financing activities
 
(417
)
 
(6,565
)
 
 
 
 
 
 
 
Net decrease in cash and cash equivalents
 
(43
)
 
(2,930
)
Cash and cash equivalents at beginning of period
 
40,782

 
43,712

Cash and cash equivalents at end of period
 
$
40,739

 
$
40,782

 
 
 
 
 
 
 
(1) 
Certain prior year amounts have been reclassified to conform to the current year presentation.