Exhibit 99.1

CHRISTOPHER & BANKS CORPORATION REPORTS RESULTS FOR THE

NINE AND FORTY-EIGHT WEEK PERIODS ENDED JANUARY 28, 2012

Minneapolis, MN, March 27, 2012 — Christopher & Banks Corporation (NYSE: CBK), a specialty women’s apparel retailer, today reported results for the nine week and forty-eight week periods ended January 28, 2012.  As previously announced, the Company changed its fiscal year end to the Saturday nearest to the end of January, from the Saturday nearest to the end of February, to better align the Company’s financial reporting periods with its operational cycle and that of other specialty retail companies.

Results for the Nine Week Period Ended January 28, 2012

·                  Net sales totaled $68.8 million and same store sales decreased 14%, compared to the comparable nine-week period last year.

·                  Operating loss totaled $32.6 million and included $9.0 million, or $0.25 per share, of restructuring charges.  The Company recorded approximately $8.3 million related to accrued lease termination liabilities associated with stores identified for closure as part of its real estate restructuring efforts.  The Company also recorded approximately $0.4 million of severance charges related to terminations at its corporate office and in the Company’s field organization in the nine weeks ended January 28, 2012.  In addition, the Company recorded approximately $0.3 million of other miscellaneous store closing costs.

·                  Net loss for the nine-week period totaled $31.7 million, or ($0.89) per share, including the $0.25 per share for restructuring charges mentioned above, and an effective tax rate of 2.5%, which is significantly lower than the statutory rate due to the Company’s maintenance of a full valuation allowance against its deferred tax assets.

Joel Waller, President and Chief Executive Officer, commented, “Our financial results were clearly disappointing in the fourth quarter, primarily due to a merchandise offering that was priced too high, over-assorted and lacked some of our traditional key categories.  However, I do believe that by developing and executing on the right strategic plan we can get the Company back on track.  Since joining the company in mid-December, I have found that Christopher & Banks has a loyal customer, giving me the confidence that we can win her back.  My priority is to bring stability to the organization while testing and developing merchandising and marketing strategies that will resonate with our customers.  We are in the process of developing a more effective promotional strategy with greater focus on pre-planned promotions and a more regular markdown cadence.  We believe that execution of these initiatives will lead to improved sales and gross margin performance in our current fiscal year and beyond.”

Results for the Forty-Eight Weeks Ended January 28, 2012

·                  Net sales totaled $412.8 million and same store sales decreased 5%, compared to the same forty-eight week period last year.

·                  Operating loss totaled $71.8 million and included $21.2 million, or $0.59 per share, of non-cash store asset impairment and restructuring charges.  In the third quarter, the Company recorded non-cash asset impairment charges of $11.4 million related to 103 stores identified for closure and other stores the Company will continue to operate.  Restructuring charges totaled $9.8 million, including approximately $8.3 million related to accrued lease termination liabilities associated with stores identified for closure as part of the Company’s real estate restructuring efforts.  The Company also recorded approximately $1.2 million of severance charges related to terminations at its corporate office and in the Company’s field organization in the third and fourth quarters.  In addition, the Company recorded approximately $0.3 million of other miscellaneous store closing costs.

·                  Net loss for the forty-eight week period totaled $71.1 million, or ($2.00) per share, including the $0.59 per share for the restructuring and non-cash asset impairment charges mentioned above, and an effective tax rate of 0.5%, which is significantly lower than the statutory rate due to the Company’s maintenance of a full valuation allowance against its deferred tax assets.

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Balance Sheet Highlights and Capital Expenditures

Cash, cash-equivalents and investments totaled $61.7 million as of January 28, 2012.  Inventory, excluding in-transit and e-Commerce inventory, increased approximately 2% on a per-store basis as of January 28, 2012, as compared to January 29, 2011.  For the forty-eight week period ended January 28, 2012, the Company had no outstanding borrowings under its revolving credit facility and capital expenditures totaled approximately $11.7 million.

Real Estate Restructuring Efforts

In November, after an in-depth analysis of its store portfolio, the Company announced its plans to close approximately 100 stores, most of which were underperforming.  Ultimately 103 stores were identified for closure and 90 of these stores were closed as of January 28, 2012, with the majority of the remaining stores closing in February and March 2012.  In addition to the 90 stores referenced above, the Company closed 29 additional stores in the normal course of business, for a total of 119 store closures for the eleven months ended January 28, 2012.  The Company opened 20 new outlet stores, nine new dual stores and one Christopher & Banks store during the eleven-month period ending January 28, 2012.  The Company also converted 22 dual stores in existing locations where a Christopher & Banks store and a C.J. Banks store were combined into one location and, finally, 29 additional dual stores were created by adding women’s plus size merchandise to existing Christopher & Banks stores.  As of January 28, 2012 the Company had 402 Christopher & Banks stores, 199 C.J. Banks stores, 62 dual stores and 23 Outlet stores.  For the current fiscal year, the Company intends to conserve cash as it will have a limited number of store openings and thus minimize capital expenditures related to new store openings.

Conference Call Information

The Company will discuss its fourth quarter and full year results in a conference call scheduled for today, March 27, 2012, at 5:00 p.m. Eastern time.  The conference call will be simultaneously broadcast live over the Internet at http://www.christopherandbanks.com.  An online archive of the broadcast will be available within one hour of the completion of the call and will be accessible at http://www.christopherandbanks.com until April 3, 2012.  In addition, an audio replay of the call will be available shortly after its conclusion and will be archived until April 3, 2012.  This call may be accessed by dialing (877) 870-5176 and using the passcode 9553466.

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About Christopher & Banks

Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women’s clothing.  As of March 27, 2012, the Company operates 671 stores in 44 states consisting of 396 Christopher & Banks stores, 187 stores in their women’s plus size clothing division CJ Banks, 63 dual stores and 25 outlet stores.  The Company also operates the www.ChristopherandBanks.com and www.CJBanks.com e-commerce websites.

Keywords:  Christopher & Banks, CJ Banks, Women’s Clothing, Plus Size Clothing, Petites, Extended Sizes, Outfits.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements, made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  The forward-looking statements may use the words “expect”, “anticipate”, “plan”, “intend”, “project”, “believe” and similar expressions and include statements (i) that by developing and executing on the right strategic plan the Company can get back on the right track; (ii) that the Company is in the process of developing a more effective promotional strategy with greater focus on pre-planned promotions and a more regular markdown cadence; and (iii) that the Company believes that execution of these initiatives will lead to improved sales and gross margin performance in the Company’s current fiscal year and beyond.  These statements are based on management’s current expectations and are subject to a number of uncertainties and risks, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our actual results to differ materially from those expressed or implied by the forward-looking statements.  Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include, but are not limited to: (i) the inherent difficulty in forecasting consumer buying and retail traffic patterns which may be affected by factors beyond our control, such as a weakness in overall consumer demand; adverse weather, economic or political conditions; and shifts in consumer tastes or spending habits that result in reduced sales or gross margins; (ii) lack of acceptance of the Company’s fashions, including its seasonal fashions; (iii) the ability of the Company’s infrastructure and systems to

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adequately support our operations; (iv) the effectiveness of the Company’s brand awareness, marketing programs and efforts to enhance the in-store experience; (v) the possibility that, because of poor customer response to our merchandise, management may determine it is necessary to sell merchandise at lower than expected margins or at a loss; (vi) the failure to successfully implement the Company’s strategic and tactical plans; (vii) general economic conditions could lead to a reduction in store traffic and in consumer spending on women’s apparel; (viii) fluctuations in the levels of the Company’s sales, expenses or earnings; and (ix) risks associated with the performance and operations of the Company’s Internet operations.

Readers are cautioned not to place undue reliance on these forward-looking statements which are based on current expectations and speak only as of the date of this release.  The Company does not assume any obligation to update or revise any forward-looking statement at any time for any reason.

Certain other factors that may cause actual results to differ from such forward-looking statements are included in the Company’s periodic reports filed with the Securities and Exchange Commission and available on the Company’s website under “Investor Relations” and you are urged to carefully consider all such factors.

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CHRISTOPHER & BANKS CORPORATION

UNAUDITED CONDENSED COMPARATIVE BALANCE SHEET

(in thousands)

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CHRISTOPHER & BANKS CORPORATION

UNAUDITED COMPARATIVE STATEMENT OF OPERATIONS

(in thousands, except per share data)

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CHRISTOPHER & BANKS CORPORATION

UNAUDITED CONDENSED COMPARATIVE STATEMENT OF CASH FLOWS

(in thousands)

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