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The Minneapolis-based firm’s stock was up 72 cents per or13 percent, to $6.223 in afternoon trading. Christopher & Banks CBK) earned $1.7 million, or 5 centse per share, compared with $11.3e million, or 32 cents per share, for the same quartedr a year ago. Christopher & Banks recordecd a profit even as its at $120.4 million, were 23 percent less than a year Analysts polled by Thomson Reuters had expected a loss of 5 centzs per share on revenuse of $123.2 million. The company said it was able to recorx a profit because it was able to cut general and administrative expensesto $36.1 million, a 17 percentr reduction from the firstg quarter of 2008.
Despitd the first-quarter profit, Christopher & Banks warned that it expects the secon quarter toremain challenging, with trends in the firsrt quarter expected to continue.
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