UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
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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 November 30, 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 |
For the transition period from to .
Commission File No. 0-19972
CHRISTOPHER & BANKS CORPORATION
(Exact name of registrant as specified in its charter)
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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) |
2400 Xenium Lane North, Plymouth, Minnesota
(Address of principal executive offices)
55441
(Zip Code)
(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 December 27, 2002, 25,788,389 shares of the registrant’s common stock were outstanding.
FORM 10-Q QUARTERLY REPORT
INDEX
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14 |
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15 |
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15 |
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15 |
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15 |
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15 |
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16 |
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17 |
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18 |
2
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ASSETS |
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November 30, 2002 |
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March 2, 2002 |
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December 1, 2001 |
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(Unaudited) |
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(Audited) |
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(Unaudited) |
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Current assets: |
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Cash and cash equivalents |
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$ |
34,925,981 |
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$ |
40,874,724 |
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$ |
27,037,329 |
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Short-term investments |
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11,991,911 |
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— |
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— |
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Merchandise inventory |
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36,658,951 |
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18,999,118 |
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26,432,493 |
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Other current assets |
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10,984,323 |
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9,083,494 |
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8,754,659 |
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Total current assets |
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94,561,166 |
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68,957,336 |
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62,224,481 |
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Property, equipment and improvements, net |
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66,901,415 |
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57,724,202 |
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54,118,389 |
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Other assets |
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1,955,834 |
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1,936,289 |
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1,797,705 |
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Total assets |
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$ |
163,418,415 |
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$ |
128,617,827 |
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$ |
118,140,575 |
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LIABILITIES AND STOCKHOLDERS’ EQUITY |
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Current liabilities: |
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Accounts payable |
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$ |
898,132 |
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$ |
2,487,171 |
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$ |
1,251,889 |
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Accrued liabilities |
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14,129,082 |
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11,630,740 |
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12,578,787 |
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Total current liabilities |
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15,027,214 |
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14,117,911 |
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13,830,676 |
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Long-term liabilities: |
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Long-term debt |
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— |
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— |
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5,325,400 |
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Other liabilities |
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2,737,389 |
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2,523,484 |
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2,480,155 |
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Total long-term liabilities |
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2,737,389 |
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2,523,484 |
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7,805,555 |
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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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— |
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Common stock—$0.01 par value, 74,000,000 shares authorized; 25,788,389, 25,193,806 and 24,828,497 shares issued and outstanding at November 30, 2002, March 2, 2002 and December 1, 2001, respectively |
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276,468 |
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270,567 |
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266,914 |
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Additional paid-in capital |
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51,891,870 |
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46,235,880 |
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41,118,804 |
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Retained earnings |
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96,485,435 |
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68,469,946 |
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58,168,587 |
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Other stockholders’ equity |
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(2,999,961 |
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(2,999,961 |
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(3,049,961 |
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Total stockholders’ equity |
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145,653,812 |
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111,976,432 |
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96,504,344 |
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Total liabilities and stockholders’ equity |
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$ |
163,418,415 |
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$ |
128,617,827 |
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$ |
118,140,575 |
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See accompanying notes to unaudited consolidated condensed financial statements.
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