Women's specialty apparel retailer Christopher & Banks has been slimming down. The largely mall-based chain sells moderately priced private-label women's casual fashions through more than 550 locations (down from 830). Its portfolio of stores span some 45 states, operating under the Christopher & Banks and C.J. Banks banners. It also operates outlet and MPW dual-concept stores, which offer merchandise from both Christopher & Banks and C.J. Banks, and sells items online. Christopher & Banks targets women ages 45 to 55 with missy, petite, and women's fashions. While Aria Partners had offered to buy the company for $1.75 per share, Christopher & Banks rejected the offer.