Christopher & Banks Corporation reported unaudited consolidated earnings results for the fourth quarter and fiscal year ended January 28, 2017. For the Fourth Quarter Ended January 28, 2017, net sales totaled $85.0 million, a decrease of 10.1%, while operating on average 499 stores, compared to $94.6 million in net sales for the fourth quarter of fiscal 2015, while operating on average 534 stores. Net loss totaled $17.2 million, or $0.46 per share, compared to a net loss for the prior year period of $46.6 million, or $1.26 per share, which included $37.5 million, or a $1.02 loss per share, to record a valuation allowance for the Company's deferred tax assets. Adjusted LBITDA was $14.1 million, compared to $3.7 million for the same period last year. Comparable sales decreased 7.8% following a 3.4% decrease in the same period last year. Capital expenditures for the fourth quarter of fiscal 2016 were $1.6 million compared to $3.4 million in last year's fourth quarter. Capital expenditures in the fourth quarter this year primarily reflected investments in new stores and technology associated with the Company's Customer First initiative. Operating loss was $17.6 million compared to $7.4 million a year ago. Loss before income taxes was $17.7 million compared to $7.4 million a year ago.

For the Fifty-Two Weeks Ended January 28, 2017, net sales totaled $381.6 million, a decrease of 0.6%, while operating on average 506 stores, as compared to $383.8 million in net sales last year, while operating on average 526 stores. Comparable sales decreased 0.8% following an 8.3% decrease last year. Adjusted LBITDA was $3.4 million, compared to Adjusted EBITDA of $2.0 million for the same period last year. Net loss for fiscal 2016 totaled $17.8 million, or $0.48 per share. Net loss for fiscal 2015 totaled $49.1 million, or $1.33 per share, which included $37.5 million, or a $1.02 loss per share, to record a valuation allowance for the Company's deferred tax assets. Operating loss was $18.7 million compared to $11.3 million a year ago. Loss before income taxes was $17.98 million compared to $49.09 million a year ago. Loss before income taxes was $17.7 million compared to $7.4 million a year ago. Net cash used in operating activities was $9.9 million compared to $5.4 million a year ago. Purchases of property, equipment and improvements was $10.3 million compared to $26.08 million a year ago.

For the 2017 fiscal year, the Company currently expects capital expenditures to be approximately $6.5 million to $7.5 million. The 53rd week in fiscal 2017 is expected to add approximately $4.2 million in sales and to reduce operating income by approximately $1.6 million.

The company reported Impairment of long-lived assets were $310,000 compared to $99,000 a year ago.