Christopher & Banks Corporation (NYSE:CBK) Q2 2020 Earnings Conference Call - Final Transcript

Sep 11, 2020 • 08:30 am ET


Christopher & Banks Corporation (NYSE:CBK) Q2 2020 Earnings Conference Call - Final Transcript


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Keri L. Jones

on the website. Early indicators are positive. Not only are we receiving positive feedback directly from our customers, we have seen the strongest sales on categories that are most featured. The best example of this is our accessories category, which truly allows her to complete her outfit. Accessories have delivered double the growth rate of the total direct business. By showing our customer ways to wear, we believe not only will we drive higher sales, but we can drive satisfaction rates that mirror the great service scores that we receive in store where she interact with their CMB stylist.

While brick and mortar traffic remains down, we do not want to understate the importance of our stores. For those of you have followed our brand and shop at our stores, you know that our store associates her CMB stylist is the heart of our brand. Our customers enjoy visiting us in person and engaging with our associates, many of whom they have maintained relationships with over a number of years.

During the quarter, we successfully re-opened our entire store fleet beginning in May, taking the necessary health and safety precautions as well as offering appointments during or outside of store hours at the request of our customers. And I'm proud to share that over 95% of our amazing store managers chose to return to work. My heartfelt thanks goes out to them as they helped us to welcome back our customers in a safe environment.

Our assortments remains focused on casual comfort and great value. The work we've done to enhance our assortments in-store visuals have created a cohesive easy to shop experience for our customer, both in-stores and online. Our customer loves our modernized assortment that is designed exclusively for her. Our emphasis on casual has been an advantage in this environment, and we saw the strongest results in easy casual top, including those from our relaxed restyled collection.

In addition, recognizing the opportunity in women's and petite business, we expanded our offering in these assortments and we are pleased with the traction we are seeing. Looking ahead, we are building on the progress we made across our strategic initiatives, starting with: we will continue to deepen our connection with our customer through our e-commerce site, digital and social media. Just last month we piloted Facebook pages for individual stores and we just completed the rollout. As I said our CMB style is sort of heartbeat of our brand and by giving each store the ability to connect with their customers, we further deepen their already strong loyalty.

We are also re-imagining our big events for fall. For example, our September style event is being expanded to more days to allow her to book small style parties with her friends that enables social distancing versus the large fashion shows that we previously held. Our marketing strategies remains focused on new and existing customers. The market disruption taking place presents an ideal opportunity to attract new customers to the Christopher