Christopher & Banks Corporation announced unaudited consolidated earnings results for the first quarter ended April 30, 2016. For the quarter, the company reported net sales totaled $100.0 million, an increase of 9.2%, compared to $91.6 million in net sales for the first quarter of fiscal 2015. Comparable sales increased 6.0% compared to an 11.7% decrease in the same period last year. Operating loss was approximately $1.0 million for the first quarter of fiscal 2016, including a non-cash impairment charge of $0.2 million. This compares to an operating loss of $2.5 million in the first quarter of fiscal 2015. Net loss totaled $0.2 million, or a $0.00 loss per share, compared to a net loss for the prior year period of $1.4 million, or a $0.04 loss per share. Capital expenditures for the first quarter of fiscal 2016 were $3.6 million compared to $7.8 million in last year's first quarter. Capital expenditures in the first quarter this year primarily reflected investments in new stores and technology associated with Customer First initiative. For the first quarter ended April 30, 2016, the Company had no outstanding borrowings under its revolving credit facility. Loss before income taxes was $83,000 compared to $2,503,000 a year ago. Net cash used in operating activities was $5,051,000 compared to $9,245,000 a year ago.

For the second quarter of fiscal 2016, total net sales of between $92.0 million and $96.0 million, as compared to net sales of $94.0 million in last year's second quarter; gross margin to be 33.9% to 35.1% as compared to 32.9% in last year's second quarter.

For the 2016, fiscal year, the company expected capital expenditures to be approximately $12.5 million to $13.0 million; nominal taxes, representing minimal taxes and fees.

The company reported impairment charges for the first quarter ended April 30, 2016. For the quarter, the company reported impairment of store assets of $168,000.