Christopher & Banks

Christopher & Banks
Public
Traded as NYSE: CBK
Industry Retail
Founded 1956
Founder Gil Braun
Headquarters Plymouth, Minnesota, United States
Number of locations
 672 (March 2012)
Key people
 Joel Waller, President and CEO
Products Women's clothing
Divisions CJ Banks (Plus Size)
Website www.christopherandbanks.com
A Christopher & Banks store at a mall in Oregon

Christopher & Banks is an American retail company based in the Minneapolis suburb of Plymouth, Minnesota that specializes in women's clothing for the age 40-60 demographic.[1] In 2017, Joel Waller was named Interim President and Chief Executive Officer, as well as a member of the Board of Directors.[2]

History

The chain was founded in 1956 as Braun's Fashions in Minneapolis. It became a publicly traded company in 1992, and was re-branded as Christopher & Banks in 2000.[3] Also in 2000, the chain founded a second brand, CJ Banks, which is a plus-size clothing store.[4]

In November 2004 Christopher & Banks acquired the Acorn Stores chain and operated it as a third retail concept.[5] Christopher & Banks announced on July 31, 2008 that they intended to close Acorn and followed through with this plan, closing all 36 Acorn stores by the end of the year.[6]

On April 4, 2005, The Company restated its consolidated statements of income for the fiscal years ended March 1, 2003 and February 28, 2004, as well as for interim periods within the fiscal year ended February 26, 2005, to present the amortization of construction allowances as a reduction of rent expense instead of a reduction of depreciation expense.[7]

In 2014, the company began phasing out CJ Banks stores, and combining the plus-size lines into Christopher & Banks stores. In cases where such stores were adjacent, the stores were combined into one larger store.[8]

References

  1. ↑ Christopher and Banks Corporation Investor Relations
  2. ↑
  3. ↑ Moore, Janet (2000-05-25). "Braun's seeks to don new name". The Star-Tribune. Retrieved 2009-02-26.
  4. ↑ "Christopher & Banks history". Christopher & Banks. Retrieved 2009-02-26.
  5. ↑ "Christopher & Banks Corp. completed its acquisition of Acorn stores from Gilmore Bros". Christopher & Banks. 2004-12-01. Retrieved 2010-09-01.
  6. ↑ "Acorn". Christopher & Banks. Archived from the original on 2010-09-09. Retrieved 2010-09-01.
  7. ↑ "EXHIBIT 99 - Additional Exhibit CHRISTOPHER & BANKS CORP".
  8. ↑ http://www.bizjournals.com/twincities/news/2014/10/02/christopher-banks-sizes-cj-banks-consolidation.html?page=all


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