Christopher & Banks
 | |
| Company type | Private |
|---|---|
| Industry | Retail |
| Founded | 1956 |
| Founder | Gil Braun |
| Headquarters | , United States |
| Products | Women's clothing |
| Parent |
|
| Divisions | CJ Banks (Plus Size) |
| Website | https://www.christopherandbanks.com/ |
Christopher & Banks is a digitally native American retailer. The brand specializes in women's clothing for the age 40-60 demographic.[1]
History
Founded in 1956 as Braun's Fashions in Minneapolis, the chain became a public trade company in 1992. After being re-branded Christopher & Banks in 2000,[2] it founded a second brand, CJ Banks, which is a plus-size clothing store.[3]
In November 2004, Christopher & Banks acquired Acorn Stores and operated that chain as a third retail concept.[4] After reporting its intent on July 31, 2008, it closed all 36 Acorn stores by the end of the year.[5]
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.[6]
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.[7]
In January 2021, the company announced that it would be eliminating its brick-and-mortar format due to financial loss from the ongoing the COVID-19 pandemic.[8] A vast majority of these stores have either been replaced with other retailers, particularly Daily Thread.[9]
Following this decision, the brand tested five brick-and-mortar locations in Coon Rapids, Minnesota, Branson, Missouri, Fort Wayne, Indiana, Greensburg, Pennsylvania, and Canton, Ohio.[10]
References
- ^ Christopher and Banks Corporation Investor Relations
- ^ Moore, Janet (2000-05-25). "Braun's seeks to don new name". The Star-Tribune. Archived from the original on 2012-11-06. Retrieved 2009-02-26.
- ^ "Christopher & Banks history". Christopher & Banks. Archived from the original on 2009-03-02. Retrieved 2009-02-26.
- ^ "Christopher & Banks Corp. completed its acquisition of Acorn stores from Gilmore Bros". Christopher & Banks. 2004-12-01. Retrieved 2010-09-01.
- ^ "Acorn". Christopher & Banks. Archived from the original on 2010-09-09. Retrieved 2010-09-01.
- ^ "EXHIBIT 99 - Additional Exhibit CHRISTOPHER & BANKS CORP".
- ^ Hammerand, Jim (Oct 2, 2014). "Christopher & Banks continues store closings, openings to bring all sizes under one roof". bizjournals.com. Minneapolis / St. Paul Business Journal. Archived from the original on 2014-10-15. Retrieved 2019-09-29.
- ^ Valinsky, Jordan (2021-01-14). "Christopher & Banks is going out of business". CNN.
- ^ "Daily Thread opens at Great Lakes Mall". The News-Herald. July 16, 2022. Retrieved August 23, 2023.
- ^ "Christopher & Banks | cjbanks - Store Openings".
External links
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- Companies formerly listed on the New York Stock Exchange
- Clothing retailers of the United States
- Companies based in Plymouth, Minnesota
- American companies established in 1956
- American companies disestablished in 2021
- Retail companies established in 1956
- Retail companies disestablished in 2021
- 1956 establishments in Minnesota
- 2021 disestablishments in Minnesota
- Companies disestablished due to the COVID-19 pandemic
- Companies that filed for Chapter 11 bankruptcy in 2021
- Companies that filed for Chapter 7 bankruptcy in 2021
- Companies that filed for Chapter 11 bankruptcy in 2023
- Companies that have filed for Chapter 7 bankruptcy
- 2023 mergers and acquisitions
- United States retail company stubs