Christopher & Banks Corporation Reports a 12% Increase in April Same-Store Sales

Business Wire, May 10, 2001

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--May 10, 2001

Merchandise Margins Remain Strong

Christopher & Banks Corporation (Nasdaq: CHBS), formerly Braun's Fashions Corporation, today reported a 12% increase in April same-store sales for its five-week period ended May 5, 2001. Total sales for the five-week period ended May 5, 2001 rose 39% to $22.6 million from $16.3 million last year. The Company opened 17 new stores in April.

For the two months ended May 5, 2001, same-store sales rose 15%. Total sales for the two months year-to-date increased 41% to $39.2 million from $27.8 million last year. As of May 5, 2001, the Company operated 304 stores compared with 241 stores as of April 29, 2000.

Bill Prange, Chairman and Chief Executive Officer of Christopher & Banks commented, "We are very pleased with our 12% increase in April same-store sales especially since unusually cool and rainy weather affected much of our market area during most of April. Sales of Spring merchandise enjoyed strong selling at full price. As a result, merchandise margins through the first two months of our first quarter are in-line with the record first quarter levels achieved last year."

Mr. Prange concluded, "We believe the opportunities for continued growth for the Christopher & Banks and CJ Banks brands are excellent. Our new store opening program is on target with 32 new stores opened in March and April. We are very encouraged by their initial performance and plan to open eleven additional new stores in May."

Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing providing exclusive fashions under the Christopher & Banks label. Presently, the Company operates 304 stores in 29 states, located primarily in the Northern half of 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