Christopher & Banks Corporation (CBK) 2016年年度报告「NYSE」.pdf

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1、2016ANNUAL REPORTI am pleased to have rejoined the Company this past January and look forward to addressing our current challenges and moving the business forward.Fiscal 2016 represented both a dif cult and disappointing year for the Company in the face of an evolving and dynamic retail environment,

2、compounded by our own missteps.We are a merchandise-driven company with a number of core strengths on which to build,including a loyal customer base we have disappointed recently.Given the current environment I have emphasized to the entire organization the need for a greater sense of urgency,reacti

3、ng more quickly and improving our execution.Thus far,I am pleased with how the organization has received and responded to this message.During the past few months my primary focus has been to determine the root causes of our disappointing performance and more importantly,to identify and implement the

4、 critical changes necessary to stabilize the business and lay the ground work for improved and more consistent performance both later this year and for the long-term.We have identifi ed the key issues facing the Company and are actively addressing them.And while we are in the early stages of this pr

5、ocess,I am confi dent that we are on the right path.Let me briefl y highlight the opportunities weve identifi ed and how we are addressing them.First,as to our merchandise assortment,we were over-invested in basics to the detriment of fashion and also over-invested in plus sizes to the detriment of

6、our Missy customer.Second,we had an inconsistent fl ow of merchandise and an imbalance of inventory at the store and channel level.Third,our Outlet stores as a whole underperformed.And fi nally,we undertook several new product initiatives without suf cient testing or validation.As a result,our fi ve