Christopher & Banks Corporation Reports a 25% Increase in July Same-Store Sales

Business Wire, August 3, 2000

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--August 3, 2000

Christopher & Banks Corporation (Nasdaq: CHBS), formerly Braun's Fashion Corporation, today reported a 25% increase in July same-store sales for its five-week period ended July 29, 2000. Total sales for the five-week period ended July 29, 2000, rose 47% to $16.0 million from $10.9 million last year.

For the five months ended July 29, 2000, same-store sales increased 21%. Total sales for the five months year-to-date increased 44% to $71.3 million from $49.4 million last year. As of July 29, 2000 the Company operated 242 stores compared with 210 as of July 31, 1999.

Bill Prange, Chairman and Chief Executive Officer of Christopher & Banks commented, "We are very pleased to report that our July sales were strong across all merchandise categories, clearly demonstrating the continued acceptance of the Christopher & Banks brand. Our 25% increase in July same- store sales exceeded our expectations and follows a 14% increase in last year's July same-store sales."

Mr. Prange concluded, "We continue to see improved selling at full price and as a result, we anticipate that gross margin for the second quarter, which ends on August 26, 2000, will exceed last year's second quarter gross margin by at least 600 basis points."

Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing providing exclusive fashions under the Christopher & Banks label. Presently, the company has 242 stores operating in 27 states, located primarily in the northern regions throughout the United States.

This release contains forward-looking statements regarding future performance of the Company. The achievement of such results is subject to certain risks and uncertainties, including changes in economic, market and weather conditions, the effect of consumer tastes and spending habits, the realization of expected economies gained through the use of private label and direct import merchandise, management of growth and other factors outside the Company's control, including factors discussed from time to time in the company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's analysis only as of the date hereof.

The Company undertakes no obligation to update these forward- looking statements to reflect events or circumstances that may arise after the date hereof.

For more information on Christopher & Banks Corporation, visit our website at www.christopherandbanks.com