On Friday, Shares of Christopher & Banks Corporation (NYSE:CBK), lost -47.84% to $1.69.
Christopher & Banks Corporation declared preliminary financial results for its second quarter ended August 1, 2015.
For the second quarter, the Company presently anticipates to report net sales of about $94 million, as contrast to its previous guidance of between $100 million and $103 million, while operating on average 521 stores for the quarter. Total net sales for last year’s second quarter were $106.6 million, while operating on average 545 stores.
Comparable stores sales declined about 12.4%, with 56% of total stores on average comprised of in the comparable store base, reflecting the repositioning of the store base as part of the MPW strategy. The Company presently anticipates gross margin to decline about 250 basis points as compared to last year’s second quarter due to deleveraging as a result of lower sales. This compares to its previous guidance of flat to an enhance of 50 basis points as contrast to the preceding year period. The Company presently anticipates SG&A for the second quarter will be about $30 million, which reflects both cost savings and a reduction in forecasted accrued incentives in the amount of about $1.6 million during the quarter. This compares to the previous SG&A outlook of between $32.5 million and $33.0 million. Inventory per square foot at the end of the quarter was up about 3% as contrast to the level at the end of last year’s second quarter. This is slightly above the Company’s earlier guidance of about flat.
Christopher & Banks Corporation, through its auxiliaries, operates as a retailer of women’s apparel and accessories in the United States. The company designs, sources, and sells women’s apparel and accessories to customers ranging in age from 45 to 60.
Shares of Nimble Storage Inc (NYSE:NMBL), declined -0.47% to $25.29, during its last trading session.
Nimble Storage, declared that Leonard Iventosch has joined the company’s executive leadership team as vice president of worldwide channels. The company also declared the return of Mike Munoz who will serve as vice president of worldwide alliances. Iventosch brings 30 years of hands-on channel experience across the storage industry with previous assignments at EMC, NetApp, Isilon Systems, and Data General. Munoz, who formerly served as vice president of worldwide sales, has returned from a leave of absence and will now lead the company’s worldwide technology alliances and associated go-to-market sales initiatives. Both executives will report to Denis Murphy, vice president of worldwide sales.
“With the addition of Leonard and the return of Mike, we are fortifying our executive bench strength and taking a noteworthy step forward toward realizing our vision of redefining and leading the storage industry,” said Denis Murphy, vice president worldwide sales at Nimble Storage. “The combined experience of both executives will be a force to reckon with as our competitors navigate the choppy seas of legacy product transitions, flash storage innovations and rapidly changing customer requirements.”
Preceding to joining Nimble Storage, Iventosch, 60, served in executive leadership assignments at ExtraHop Networks, EMC, Isilon Systems, NetApp and Data General where he developed strategies and programs to fuel channel growth. While at EMC, Iventosch served as vice president of sales for Americas channels, where he focused on the success and profitability of channel partners through initiatives and programs designed to accelerate account penetration and sales growth. Preceding to EMC, Iventosch served as vice president of global channels at Isilon Systems where, during his leadership, channel revenue contribution jumped from under 25% to around 65% in less than two years. Preceding to Isilon Systems, Iventosch served as vice president of Americas channels at NetApp and as a channel sales leader at Data General. Iventosch draws from more than 30 years of hands-on experience in data storage and building winning teams and cultivating new business opportunities. Iventosch earned a B.A. in economics from UC Davis and an M.B.A. from UC Berkeley with an emphasis on marketing.
Nimble Storage, Inc. provides flash-optimized storage platforms. The companys software and storage systems handle various mainstream applications, counting virtual desktops, databases, email, collaboration, and analytics.
Finally, Alliant Energy Corporation (NYSE:LNT), ended its last trade with 0.36% gain, and closed at $ 61.74.
Alliant Energy Corporation declared U.S. generally accepted accounting principles (GAAP) and non-GAAP merged unaudited earnings per share (EPS) from ongoing operations for the three months ended June 30.
“The second quarter non-GAAP results were in line with our expectations and reflects earning on our increasing rate base, while managing impacts to customers,” said Patricia Kampling, Alliant Energy Chairman, President, and CEO. “With the solid earnings to date, we are reaffirming 2015 earnings per share guidance.”
Utilities, ATC and Corporate Services - Alliant Energy’s Utilities, American Transmission Company LLC (ATC) and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $0.58 per share of non-GAAP EPS from ongoing operations in the second quarter of 2015, which was $0.08 per share higher than the second quarter of 2014. The primary drivers of higher EPS were lower retail electric customer billing credits at Interstate Power and Light Company (IPL) and lower energy efficiency cost recovery amortizations at Wisconsin Power and Light Company (WPL). Higher quarter-over-quarter EPS was partially offset by higher electric transmission service expense at WPL in the second quarter of 2015 contrast to the second quarter of 2014.
Non-regulated and Parent - Alliant Energy’s Non-regulated and Parent operations generated $0.09 per share of non-GAAP EPS from ongoing operations in the second quarter of 2015, which was $0.03 per share higher than the second quarter of 2014. The timing of income taxes at the Parent contributed to the higher quarter-over-quarter earnings.
Earnings Adjustments - Non-GAAP EPS for the three months ended June 30, 2015 excludes a charge of $0.06 per share from the sales of IPL’s Minnesota electric and gas distribution assets. Non-GAAP adjustments, which relate to material charges or income that are not normally associated with ongoing operations, are offered as a supplement to results stated in accordance with GAAP.
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services to residential, commercial, industrial, and wholesale customers in the Midwest region of the United States. It operates through three segments: Electric, Gas, and Other.
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