CHRISTOPHER & BANKS CORPORATION (NYSE:CBK) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01
CHRISTOPHER & BANKS CORPORATION (NYSE:CBK) Files An 8-K Changes in Registrant’s Certifying Accountant
Changes in Registrant’s Certifying Accountant
(a) The Audit Committee (the “Audit Committee”) of the Board of Directors of Christopher & Banks Corporation (the “Company”) conducted a comprehensive, competitive process to determine the Company’s independent registered public accounting firm for the Company’s 2017 fiscal year. The Audit Committee invited seven national accounting firms to participate in this process, including KPMG LLP (“KPMG”), the Company’s then independent registered public accounting firm. As a result of this process, effective March 17, 2017, the Audit Committee approved the appointment of Deloitte & Touche LLP (“Deloitte”) as the Company’s independent registered public accounting firm for the Company’s 2017 fiscal year and dismissed KPMG from that role.
KPMG’s reports on the consolidated financial statements of the Company as of and for the fiscal years ended January 28, 2017 and January 30, 2016 did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles. The audit reports of KPMG on the effectiveness of internal control over financial reporting as of January 28, 2017 and January 30, 2016 did not contain any adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles.
During the fiscal years ended January 28, 2017 and January 30, 2016, and for the interim period of January 29, 2017 to March 17, 2017, there were no (i) “disagreements” as that term is defined in Item 304(a)(1)(iv) of Regulation S-K, between the Company and KPMG on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of KPMG, would have caused it to make reference to the subject matter of the disagreements in connection with its reports, and (ii) reportable events (as described in Item 304(a)(1)(v) of Regulation S-K) during the two most recent fiscal years or the subsequent interim period.
The Company provided KPMG with a copy of this Form 8-K Report and requested that KPMG furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the statements made herein and, if not, stating the respects in which it does not agree. A copy of KPMG’s letter is attached as Exhibit 16.1 to this Form 8-K Report.
(b) During the fiscal years ended January 28, 2017 and January 30, 2016 and up until the date the Company appointed Deloitte, neither the Company, nor anyone acting on its behalf, consulted with Deloitte regarding (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s consolidated financial statements, and no written report or oral advice was provided to the Company that Deloitte concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue, or (ii) any matters that were either the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions in Item 304 of Regulation S-K) or a reportable event (as described in Item 304(a)(1)(v) of Regulation S-K).
Item 9.01(d) Exhibits.
16.1 Letter of KPMG LLP to the Securities and Exchange Commission, dated March 23, 2017.
About CHRISTOPHER & BANKS CORPORATION (NYSE:CBK)
Christopher & Banks Corporation is a national specialty retailer featuring private-brand women’s apparel and accessories. The Company offers its customers an assortment of clothing for everyday needs. Its merchandise assortments include designs of women’s apparel, generally consisting of casual clothing, everyday basics, wear-to-work, leisure/active wear, and sleepwear in missy, petite and women sizes. The Company also offers a selection of jewelry and accessories, including footwear. The Company operates in the Retail Operations segment, which includes the operation of its retail stores, outlet stores, online and mobile. The Retail Operations segment includes activities generated by the Company’s retail store locations (Missy Petite Women (MPW), Outlet stores, Christopher & Banks (CB), and C.J. Banks (CJ)), as well as the e-commerce business. Its merchandise is developed for women of all sizes, age 40 and older. CHRISTOPHER & BANKS CORPORATION (NYSE:CBK) Recent Trading Information
CHRISTOPHER & BANKS CORPORATION (NYSE:CBK) closed its last trading session up +0.03 at 1.33 with 191,877 shares trading hands.
Christopher & Banks Corporation is a national specialty retailer featuring private-brand women’s apparel and accessories. The Company offers its customers an assortment of clothing for everyday needs. Its merchandise assortments include designs of women’s apparel, generally consisting of casual clothing, everyday basics, wear-to-work, leisure/active wear, and sleepwear in missy, petite and women sizes. The Company also offers a selection of jewelry and accessories, including footwear. The Company operates in the Retail Operations segment, which includes the operation of its retail stores, outlet stores, online and mobile. The Retail Operations segment includes activities generated by the Company’s retail store locations (Missy Petite Women (MPW), Outlet stores, Christopher & Banks (CB), and C.J. Banks (CJ)), as well as the e-commerce business. Its merchandise is developed for women of all sizes, age 40 and older. CHRISTOPHER & BANKS CORPORATION (NYSE:CBK) Recent Trading Information
CHRISTOPHER & BANKS CORPORATION (NYSE:CBK) closed its last trading session up +0.03 at 1.33 with 191,877 shares trading hands.
