Sep 10, 2013

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Hot Movers: Christopher & Banks Corp. (NYSE:CBK) and Tiffany & Co. (NYSE:TIF)

Hot Movers: Christopher & Banks Corp. (NYSE:CBK) and Tiffany & Co. (NYSE:TIF)

Christopher & Banks Corp. (NYSE:CBK) reported that its fiscal second-quarter loss declined, as margins beefed up sharply, while overall costs lowered and revenue moved higher.

For the quarter concluded on Aug. 3, Christopher & Banks logged a loss of $265,000, or a penny per share, in contrast with a year-earlier loss of $2.2 million, or six cents per share. The year-ago quarter consisted of a restructuring-associated benefit of 13 cents. Revenue moved up 0.8% to $104.2 million.

Analysts surveyed by Thomson Reuters had most lately estimated a per-share loss of two cents on revenue of $105 million.

Tiffany & Co. (NYSE:TIF) nominated Francesca Amfitheatrof as its design director, effective rightaway, managing design of all the jewelry retailer’s product categories.

Tiffany has been supported by strength at its overseas operations of late and in June reported that it intends to start a two-level store in a high-end department store in Moscow, a move that would provide the jewelry retailer its first completely owned retail business in Russia.

Previous month, the firm reported that its fiscal second-quarter earnings jumped up as the high-end jewelry retailer declared broad revenue growth, while margins boosted amongst price hikes.

Shares ended on Monday at $77.83 and were inactive during the early session of Tuesday. The stock was higher 36% so far this year.

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