Christopher & Banks launches virtual “Style Me” Interactive Platform
January 24 2022 - 6:00AM
iMedia Brands, Inc. (“iMedia”) (Nasdaq: IMBI) announces its
significant progress in leveraging ShopHQ to accelerate the
relaunch of the iconic 65-year-old Christopher & Banks brand
(“C&B”) in the United States.
“In less than nine months, C&B has become
the fastest growing fashion brand on ShopHQ,” said Tim Peterman,
iMedia’s CEO. “This national television awareness has enabled us to
launch an interactive C&B personalized styling service on
christopherandbanks.com. It has driven the launch of the first-ever
C&B direct-to-consumer catalog and it has supported the
reopening of five C&B retail stores. Our progress to re-engage
C&B’s 1.5 million passionate customers continues to gain
momentum.”
ShopHQ, iMedia’s flagship television network
distributed to over 80 million homes in the United States, has
aired over 100 hours of C&B programming year-to-date because
C&B’s sales performance continues to be category leading for
the network. C&B sales on ShopHQ tripled from Q2 to Q3 and are
on pace to double from Q3 to Q4, establishing it as the fastest
growing fashion brand on ShopHQ.
C&B’s “Style Me” virtual stylist program is
an interactive platform hosted by SalesFloor, which launched on
christopherandbanks.com on January 4, 2022. The program is led by
Kim Decker, who has been with C&B for over 40 years and is also
C&B’s brand ambassador on ShopHQ. Ms. Decker operates the
“Style Me” interactive platform with six C&B virtual stylists,
all of whom are previous top C&B retail store managers, to
engage one-on-one with customers via chat, email, and text to help
customers personalize outfits.
C&B’s brick and mortar retail stores
continue to be an important part of C&B’s omni-channel
strategy. C&B successfully opened three new retail stores in
November in Fort Wayne, Indiana; Canton, Ohio; and Greensburg,
Pennsylvania. These locations were selected because each were
strong performing C&B retail stores previously. These launches
were driven by the two successful C&B retail store relaunches
in May in Branson, Missouri and Coon Rapids, Minnesota.
C&B mailed its first-ever direct-to-consumer
catalog in October, and it was well received by C&B customers,
particularly those C&B customers who used to enjoy a C&B
retail store in their town. C&B followed up this successful
initial catalog mailing with an additional catalog offer in
November for the holiday season.
About Christopher &
Banks
C&B (christopherandbanks.com) was founded in
1956 and is a brand that specializes in offering women’s
value-priced apparel and accessories that cater to women of all
sizes, from petite to missy to plus sizes. Its internally designed,
modern and comfortable apparel and accessories provide customers
with an exclusive experience. The brand was acquired by iMedia in
March 2021.
About iMedia Brands, Inc.
iMedia Brands, Inc. (Nasdaq: IMBI) is a leading
interactive media company capitalizing on the convergence of
entertainment, ecommerce, and advertising. The company owns a
growing, global portfolio of entertainment, consumer brands and
media commerce services businesses that cross promote and exchange
data with each other to optimize their consumer engagement
experiences and to position the company as the leading
single-source partner to television advertisers and consumer brands
seeking to entertain and transact with customers.
Investors:Ken
Cooperkcooper@imediabrands.com(952) 943-6119
Media:press@imediabrands.com(952) 943-6125
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995
This document may contain certain
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Any statements contained
herein that are not statements of historical fact, including
statements regarding the expected impact of COVID-19 on television
retailing are forward-looking. The Company often use words such as
anticipates, believes, estimates, expects, intends, seeks,
predicts, hopes, should, plans, will and similar expressions to
identify forward-looking statements. These statements are based on
management's current expectations and accordingly are subject to
uncertainty and changes in circumstances. Actual results may vary
materially from the expectations contained herein due to various
important factors, including (but not limited to): variability in
consumer preferences, shopping behaviors, spending and debt levels;
the general economic and credit environment, including COVID-19;
interest rates; seasonal variations in consumer purchasing
activities; the ability to achieve the most effective product
category mixes to maximize sales and margin objectives; competitive
pressures on sales and sales promotions; pricing and gross sales
margins; the level of cable and satellite distribution for the
Company’s programming and the associated fees or estimated cost
savings from contract renegotiations; the Company’s ability to
establish and maintain acceptable commercial terms with third-party
vendors and other third parties with whom the Company has
contractual relationships, and to successfully manage key vendor
and shipping relationships and develop key partnerships and
proprietary and exclusive brands; the ability to manage operating
expenses successfully and the Company’s working capital levels; the
ability to remain compliant with the Company’s credit facilities
covenants; customer acceptance of the Company’s branding strategy
and its repositioning as a video commerce Company; the ability to
respond to changes in consumer shopping patterns and preferences,
and changes in technology and consumer viewing patterns; changes to
the Company’s management and information systems infrastructure;
challenges to the Company’s data and information security; changes
in governmental or regulatory requirements; including without
limitation, regulations of the Federal Communications Commission
and Federal Trade Commission, and adverse outcomes from regulatory
proceedings; litigation or governmental proceedings affecting the
Company’s operations; significant events (including disasters,
weather events or events attracting significant television
coverage) that either cause an interruption of television coverage
or that divert viewership from its programming; disruptions in the
Company’s distribution of its network broadcast to customers; the
Company’s ability to protect its intellectual property rights; our
ability to obtain and retain key executives and employees; the
Company’s ability to attract new customers and retain existing
customers; changes in shipping costs; expenses related to the
actions of activist or hostile shareholders; the Company’s ability
to offer new or innovative products and customer acceptance of the
same; changes in customer viewing habits of television programming;
and the risks identified under Item 1A(Risk Factors) in the
Company’s most recently filed Form 10-K and any additional risk
factors identified in its periodic reports since the date of such
Form 10-K. More detailed information about those factors is set
forth in the Company’s filings with the Securities and Exchange
Commission, including its annual report on Form 10-K, quarterly
reports on Form 10-Q, and current reports on Form 8-K. Investors
are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date of this announcement.
The Company is under no obligation (and expressly disclaim any such
obligation) to update or alter its forward-looking statements
whether as a result of new information, future events or
otherwise.
iMedia Brands (NASDAQ:IMBI)
Historical Stock Chart
From Mar 2024 to Apr 2024
iMedia Brands (NASDAQ:IMBI)
Historical Stock Chart
From Apr 2023 to Apr 2024