UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
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(Mark One) |
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE |
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SECURITIES EXCHANGE ACT OF 1934 |
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For the quarterly period ended June 1, 2002 |
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OR |
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE |
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SECURITIES EXCHANGE ACT OF 1934 |
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For the transition period from to . |
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Commission File No. 0-19972 |
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Delaware |
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06 - 1195422 |
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(State or other jurisdiction of |
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(I.R.S. Employer |
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incorporation or organization) |
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Identification Number) |
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2400 Xenium Lane North, Plymouth, Minnesota |
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(Address of principal executive offices) |
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55441 |
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(Zip Code) |
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(763) 551-5000
(Registrant’s telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
YES ý NO o
As of June 28, 2002, 25,527,175 shares of the registrant’s common stock were outstanding.
1
FORM 10-Q QUARTERLY REPORT
INDEX
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Page |
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Item 1. |
Consolidated Condensed Financial Statements: |
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Consolidated Condensed Balance Sheet As of June 1, 2002, March 2, 2002 and June 2, 2001 |
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Consolidated Condensed Statement of Income For the Quarters Ended June 1, 2002 and June 2, 2001 |
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Consolidated Condensed Statement of Cash Flows For the Quarters Ended June 1, 2002 and June 2, 2001 |
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6 |
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Management’s Discussion and Analysis of Financial Condition and Results of Operations |
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11 |
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PART II |
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OTHER INFORMATION |
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11 |
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11 |
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11 |
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11 |
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11 |
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11 |
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12 |
2
CHRISTOPHER & BANKS CORPORATION
CONSOLIDATED CONDENSED BALANCE SHEET
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June 1, |
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March 2, |
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June 2, |
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2002 |
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2002 |
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2001 |
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(Unaudited) |
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(Audited) |
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(Unaudited) |
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ASSETS |
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Current assets: |
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Cash and cash equivalents |
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$ |
26,281,722 |
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$ |
40,874,724 |
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$ |
17,732,984 |
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Short-term investments |
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14,905,661 |
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— |
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— |
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Merchandise inventory |
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19,085,050 |
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18,999,118 |
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19,908,216 |
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Other current assets |
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9,283,796 |
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9,083,494 |
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9,349,816 |
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Total current assets |
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69,556,229 |
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68,957,336 |
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46,991,016 |
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Property, equipment and improvements, net |
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60,439,883 |
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57,724,202 |
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47,697,864 |
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Other assets: |
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Long-term investments |
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10,000,000 |
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— |
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— |
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Other assets |
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1,938,878 |
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1,936,289 |
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1,798,115 |
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Total other assets |
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11,938,878 |
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1,936,289 |
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1,798,115 |
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Total assets |
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$ |
141,934,990 |
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$ |
128,617,827 |
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$ |
96,486,995 |
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LIABILITIES AND STOCKHOLDERS’ EQUITY |
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Current liabilities: |
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Accounts payable |
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$ |
1,464,757 |
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$ |
2,487,171 |
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$ |
2,164,986 |
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Accrued liabilities |
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13,142,281 |
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11,630,740 |
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11,336,563 |
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Total current liabilities |
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14,607,038 |
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14,117,911 |
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13,501,549 |
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Long-term liabilities: |
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Long-term debt |
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— |
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5,246,213 |
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Other liabilities |
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2,554,218 |
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2,523,484 |
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1,244,175 |
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Total long-term liabilities |
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2,554,218 |
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2,523,484 |
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6,490,388 |
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Stockholders’ equity: |
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Preferred stock — $0.01 par value, 1,000,000 shares authorized, none outstanding |
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— |
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— |
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Common stock —
$0.01 par value, 74,000,000 shares authorized, 25,482,409, 25,193,806 and 24,344,543 shares issued |
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273,453 |
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270,567 |
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264,147 |
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Additional paid-in capital |
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49,252,340 |
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46,235,880 |
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37,110,783 |
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Retained earnings |
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78,247,902 |
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68,469,946 |
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42,170,089 |
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127,773,695 |
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114,976,393 |
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79,545,019 |
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Others stockholders’ equity |
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(2,999,961 |
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(2,999,961 |
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(3,049,961 |
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Total stockholders’ equity |
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124,773,734 |
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111,976,432 |
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76,495,058 |
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Total liabilities and stockholders’ equity |
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$ |
141,934,990 |
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$ |
128,617,827 |
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$ |
96,486,995 |
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See accompanying notes to unaudited consolidated condensed financial statements.
3
CHRISTOPHER & BANKS CORPORATION
CONSOLIDATED CONDENSED STATEMENT OF INCOME
(Unaudited)
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Quarter Ended |
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June 1, |
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June 2, |
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