Christopher & Banks Corporation announced an update to its guidance for the fourth quarter and full year of 2016. The company now anticipates net sales for the quarter to be between $85 million and $86 million. The continued strong performance in the company’s eCommerce business, which grew by 15% in fiscal December, was offset by lower-than-anticipated sales in its other channels, particularly outlets. In response to these soft sales trends, the company was more promotional than originally planned in order to drive sales and manage inventory levels, which has led to gross margin pressure. As a result, the company now expects its net loss for the quarter to be in the range of $16 million to $17 million, including transition costs associated with the change in management. Despite the lower than planned sales, cash, cash equivalents and investments are expected to be approximately $30 million which is near the low end of the company’s earlier guidance, and the company expects to end the fiscal year with on-hand inventory at cost down in the low single digits, which is within its previous guidance. The company continues to be highly focused on managing its expenses, conserving its cash and controlling inventory. The company’s change in guidance for the fourth quarter is attributable to a number of factors, including lower traffic, ongoing headwinds in women’s apparel and weather. The most significant decline occurred during the two full weekends prior to Christmas where sales were negatively impacted by an estimated $4.5 million.