On June 28, Christopher & Banks (NYSE:CBK) released first-quarter earnings for the period ended June 2.

  • Overall sales rose almost 5%, despite a 4% decline in same-store sales.
  • Operating margin and net margins fell by 4 and 2.4 percentage points, respectively.
  • Earnings per diluted share are expected to be in the range of $0.11-$0.12 for the second quarter. The management believes that lower per-store receipts coupled with continuous merchandise improvements will help to post stronger performance during the later part of the fiscal year.

(Figures in millions, except per-share data.)

Income Statement Highlights

Q1 2008

Q1 2007

Change

Sales

$149.4

$142.5

4.8%

Net Profit

$11.7

$14.6

(20.1%)

EPS

$0.32

$0.39

(17.9%)

Diluted Shares

36.3

37.0

(2.0%)

Get back to basics with the income statement.

Margin Checkup

Q1 2008

Q1 2007

Change*

Gross Margin

41.8%

44.9%

(3.1)

Operating Margin

12.1%

16.1%

(4.0)

Net Margin

7.8%

10.3%

(2.4)

*Expressed in percentage points

Margins are the earnings engine.

Balance Sheet Highlights

Assets

Q1 2008

Q1 2007

Change

Cash + ST Invest.

$96.6

$112.6

(14.2%)

Inventory

$58.8

$42.9

37.0%

Liabilities

Q1 2008

Q1 2007

Change

Accounts Payable

$13.6

$6.4

111.7%

Long-Term Debt

$0.0

$0.0

N/A

The balance sheet reflects the company's health.

Cash Flow Highlights
The company did not include a cash flow statement in the press release. We'll have to wait for the 10-Q to see the results.

Free cash flow is a Fool's best friend.

Related Foolishness:

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