Christopher & Banks Corporation Responds to Recent Shareholder Inquiry

MINNEAPOLIS--(BUSINESS WIRE)--

Christopher & Banks Corporation CBK on July 8, 2015 received a letter from the Macellum Advisors GP, LLC ("Macellum") seeking certain of the Company's books and records in connection with transactions in our stock in 2014 by four of our directors. Subsequently, Macellum publicly disclosed that request in connection with a Schedule 13D filing.

The Company issued the following statement:

The Company is in the process of complying with the books and records demand pursuant to applicable law.

The sales of CBK stock by three of the Company's directors in September 2014 questioned by Macellum were all promptly made following the Company's earnings announcement in September 2014. In each case, the trade was pre-cleared pursuant to the Company's stock trading policy. The fourth director did not sell his shares but rather transferred shares to his former spouse in accordance with the terms of his divorce decree.

The Company is confident that an objective review of the facts will reflect that there were no violations of law by any of these directors.

About Christopher & Banks Corporation

Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing. As of July 17, 2015, the Company operates 523 stores in 43 states consisting of 82 Christopher & Banks stores, 73 stores in its women's plus size clothing division CJ Banks, 310 MPW stores and 58 outlet stores. The Company also operates the www.ChristopherandBanks.com e-commerce website.

Keywords: Christopher & Banks, CJ Banks, Women's Clothing, Plus Size Clothing, Petites, Extended Sizes, Outfits.

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