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By the Numbers

27%

That’s how much discretionary retail dollar sales increased for the week ending Jan. 9, according to early indicator data from market researcher The NPD Group. NPD said the distribution of stimulus checks was the primary factor influencing the week’s sales performance, which is the best week vs. year-ago sales performance it has seen since the start of the pandemic.

Today’s Quote/Unquote

“Since the start of the COVID pandemic, we have taken aggressive steps to protect our business while continuing to serve our customers in a healthy and safe environment. Despite the tremendous advancements we have made in executing our strategic plan, due to the financial distress resulting from the pandemic and its ongoing impact, we elected to initiate this process and pursue a potential sale of the business in whole or in part to position the company for the future.”

— Keri Jones, president and CEO of Christopher & Banks, on the Minneapolis-based specialty retailer filing for Chapter 11 bankruptcy. The company expects to close a significant portion, if not all, of its brick-and-mortar stores. It has launched a store closing and liquidation process.

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