Christopher & Banks Corporation (NYSE:CBK) reported on Tuesday that it is reviewing a $64.2 million offer by investment company Aria Partners to acquire the women’s clothing corporation.
Aria, which is a biggest shareholder in the corporation, reports the retailer’s executives have allowed an unprecedented deterioration in the corporation’s value and its offer could bring in the expertise, capital and manpower to right the ship.
Christopher & Banks reported that it got a letter from Aria Partners on Tuesday, offering $1.75 a share for the corporation’s outstanding stock. Aria Partners originally made a per-share bid of $1.75 in May, but reported that was rejected.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Coldwater Creek Inc. (NASDAQ:CWTR) increased +3.88% to settle at $0.53, New York & Company, Inc. (NYSE:NWY) moved up +3.06% to end at $3.71 while Limited Brands, Inc. (NYSE:LTD) jumped +0.43% to finish on Tuesday at $44.14.
Christopher & Banks Corporation (NYSE:CBK) last session volume of 653,422.00 shares was higher than its average volume of 541,341.00 shares. The stock after opening at $1.32 hit high price of $1.52 and then closed at $1.39 by scoring +19.83%.
CBK generated revenue of 382.59 million in the following twelve months and earned -$86.40 million. The Company showed a negative -22.57% in the net profit margin and as well as in its operating margin which remained -22.78%. Company’s annual sales growth for the past five year was -4.99%.
The CBK past twelve months price to sales ratio was 0.13 and price to cash ratio remained 1.80. As far as the returns are concern, the CBK return on equity was recorded as -71.70% and dropped -59.89% return on investment while its return on asset stayed at -46.98%.
The stock showed weekly upbeat performance of +17.80% which was maintained for the month at +24.11%. Likewise the negative performance for the quarter was recorded as -24.86% and for the year was -78.14% while the YTD performance remained at -40.60%.
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