Christopher & Bank Corp. By: Eric Resetar
Company Overview <ul><li>Christopher & Banks Corporation is a retail company that provides specialty apparel. For the fisc...
Company History <ul><li>The company began in 1956 when founder Gil Braun opened the first Braun store in Minneapolis. The ...
Business Strategy <ul><li>The Company’s business strategy is to provide its target customer with high quality, moderately-...
Key elements of Strategy <ul><li>The key elements of the Company’s strategy are as follows: </li></ul><ul><ul><li>Focus on...
Products & Customers <ul><li>The Christopher & Banks stores offer distinctive fashions featuring exclusively designed asso...
Recent Events <ul><li>The Company's Board of Directors approved stock repurchases of up to $40 million. </li></ul><ul><li>...
Top Competitors <ul><li>Intimate Brands, Inc. </li></ul><ul><li>Liz Claiborne, Inc. </li></ul><ul><li>Saks Incorporated </...
CBK vs. Competitors
Swot Analysis <ul><li>Strengths </li></ul><ul><ul><li>Strong Visual Merchandise Presentation  ( Use of front of store disp...
SWOT cont’d <ul><li>Weaknesses </li></ul><ul><ul><li>The Company begins the design process for its apparel six to seven mo...
SWOT cont’d… <ul><li>Opportunities </li></ul><ul><ul><li>Plus size specialty lines </li></ul></ul><ul><ul><li>Acquisition ...
Recommendation <ul><li>HOLD </li></ul><ul><ul><li>Good financials </li></ul></ul><ul><ul><li>Solid company </li></ul></ul>...
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Christopher & Bank Corp

  1. 1. Christopher & Bank Corp. By: Eric Resetar
  2. 2. Company Overview <ul><li>Christopher & Banks Corporation is a retail company that provides specialty apparel. For the fiscal year ended February 2004, the company reported revenues of $390 million. </li></ul><ul><li>As of April 30, 2004, the Company operated 556 stores in 42 states including 426 Christopher & Banks stores and 130 C.J. Banks stores. </li></ul><ul><li>Christopher & Banks is headquartered in Plymouth, Minnesota. </li></ul>
  3. 3. Company History <ul><li>The company began in 1956 when founder Gil Braun opened the first Braun store in Minneapolis. The company was called Braun Fashions, and immediately set about opening more stores and diversifying its range of products. </li></ul><ul><li>The company launched its initial public offering, (IPO) in 1992. </li></ul><ul><li>In 2000, it identified over-sized clothing as the fastest growing sector of the apparel market, and launched its C.J. Banks division specifically to cater for women of size 14 and above. </li></ul><ul><li>In July 2000, the company changed its name from Braun Fashion to its current name, Christopher & Banks Corporation, and expected to complete rebranding its stores by the end of 2003. </li></ul>
  4. 4. Business Strategy <ul><li>The Company’s business strategy is to provide its target customer with high quality, moderately-priced, coordinated ensembles that are interchangeable between work and leisure activities; to differentiate itself from its competitors through its focused merchandising approach, including an emphasis on private brand merchandise designed and manufactured exclusively for the Company under its proprietary names, Christopher & Banks and C.J. Banks; to utilize information systems to effectively manage its merchandise inventories; and to expand its store base and maintain updated, attractive store locations. </li></ul>
  5. 5. Key elements of Strategy <ul><li>The key elements of the Company’s strategy are as follows: </li></ul><ul><ul><li>Focus on a target customer and meet her needs </li></ul></ul><ul><ul><li>Deliver a well defined merchandise assortment </li></ul></ul><ul><ul><li>Use information systems to drive decision making and maintain disciplined inventory management </li></ul></ul><ul><ul><li>Expand store base in existing and new markets </li></ul></ul><ul><ul><li>Grow through development of new concepts </li></ul></ul>
  6. 6. Products & Customers <ul><li>The Christopher & Banks stores offer distinctive fashions featuring exclusively designed assortments of sportswear, sweaters and casual dresses sizes 4 to 16. </li></ul><ul><li>The C.J. Banks stores offer similar assortments of women’s specialty apparel in sizes 14W and up. </li></ul><ul><li>The Company's target customer is a 40- to 60-year-old working woman with an annual family income of $50,000 and above. Management believes this target customer leads a busy life, shops in regional malls and purchases fashions which are suitable for both work and leisure activities. </li></ul><ul><li>Christopher & Banks differentiates itself from other women's specialty apparel retailers through offering a merchandise assortment that is characterized by novelty designs, many featuring seasonal themes. </li></ul>
  7. 7. Recent Events <ul><li>The Company's Board of Directors approved stock repurchases of up to $40 million. </li></ul><ul><li>Christopher & Banks Corporation announced that it has signed an agreement to purchase all of the assets of Gilmore Brothers, Inc., a privately held women's specialty retailer operating 20 stores in nine states under the name Acorn. </li></ul><ul><li>The total purchase price for the assets of Kalamazoo, Michigan-based Gilmore Brothers, Inc. will be approximately $7 million. </li></ul><ul><li>Insider sales are up to $254.6 compared to $37.4 one year ago. </li></ul><ul><li>Stock Splits:15-Dec-99 [3:2], 12-Jul-00 [3:2], 13-Feb-01 [3:2], 13-Dec-01[3:2], 28-Aug-03 [3:2] </li></ul>
  8. 8. Top Competitors <ul><li>Intimate Brands, Inc. </li></ul><ul><li>Liz Claiborne, Inc. </li></ul><ul><li>Saks Incorporated </li></ul><ul><li>Limited Brands </li></ul><ul><li>AnnTaylor Stores Corporation </li></ul><ul><li>Charming Shoppes, Inc. </li></ul><ul><li>Chico’s FAS, Inc. </li></ul><ul><li>Deb Shops, Inc. </li></ul><ul><li>The Dress Barn, Inc. </li></ul>
  9. 9. CBK vs. Competitors
  10. 10. Swot Analysis <ul><li>Strengths </li></ul><ul><ul><li>Strong Visual Merchandise Presentation ( Use of front of store displays ) </li></ul></ul><ul><ul><li>New color pallete every 10-12 weeks </li></ul></ul><ul><ul><li>Upgrading customer service (tissue, hangers) </li></ul></ul><ul><ul><li>Plus size specialty lines </li></ul></ul><ul><ul><li>Direct Import Program(96% of merchandise) </li></ul></ul>
  11. 11. SWOT cont’d <ul><li>Weaknesses </li></ul><ul><ul><li>The Company begins the design process for its apparel six to seven months before merchandise is available to its customers. These lead times make it difficult for the Company to respond quickly to changing consumer preferences. </li></ul></ul><ul><ul><li>Competitors are significantly larger and have substantially greater financial, marketing and other resources and enjoy greater national, regional and local name recognition than they do. </li></ul></ul>
  12. 12. SWOT cont’d… <ul><li>Opportunities </li></ul><ul><ul><li>Plus size specialty lines </li></ul></ul><ul><ul><li>Acquisition of all the assets of Gilmore Brothers, Inc. </li></ul></ul><ul><ul><li>The Company’s continued growth depends on its ability to open and operate stores successfully and to manage the Company’s planned expansion. </li></ul></ul><ul><li>Threats </li></ul><ul><ul><li>The retail apparel industry is highly competitive. </li></ul></ul><ul><ul><li>The Company’s successful performance in recent years has increased the amount of imitation by other retailers. Such imitation has made and will continue to make the retail environment in which the Company operates more competitive. </li></ul></ul>
  13. 13. Recommendation <ul><li>HOLD </li></ul><ul><ul><li>Good financials </li></ul></ul><ul><ul><li>Solid company </li></ul></ul><ul><ul><li>Want to work with IV a little more. </li></ul></ul><ul><ul><li>Want to look into management more. </li></ul></ul>
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