United States  

Trusted News Discovery Since 2008
One News Page
> >

Chico’s fiscal 1Q beats on profit, net sales but misses on same-store sales

Proactive Investors Tuesday, 11 June 2019
Chico’s FAS Inc (NYSE:CHS) on Tuesday reported fiscal first-quarter profit and net sales that beat estimates, but missed on same-store sales. The women's apparel retailer said net income fell to $2.03 million, or $0.02 cents a share, from $29 million, or $0.23 cents a share, in the year-ago quarter. Adjusted earnings were $0.05 cents a share, topping the Wall Street consensus of $0.03 cents a share. READ: Chico's FAS shares slide after retailer closes stores and offers disappointing outlook For the first quarter which ended May 4, net sales were $517.7 million, compared to $561.8 million in last year's quarter – a 7.8% decline. The consensus called for $517.6 million in net sales.  Chico’s said the sales decrease reflects a comparable sales decline of 7% as well as the impact of 41 net store closures since last year's first quarter. The comparable sales decline was driven by lower average dollar sales and a decrease in transaction counts. “Actions are now underway across all brands with a focus on three distinct areas that will positively impact our results,” said interim CEO Bonnie Brooks. “These include driving stronger sales through improved product and marketing; optimizing the customer journey by simplifying, digitizing and extending our unique and personalized service; and transforming our sourcing and supply chain operations to increase product speed to market and improve quality.” For fiscal 2019, the Fort Myers, Florida-based company lowered its full-year guidance. “The company anticipates a low-to mid-single digit decline in total net sales and consolidated comparable sales, versus its previous guidance of a low-single digit decline in total net sales and consolidated comparable sales,” Chico’s said in a statement. The company’s stock was down 6.7% to $3.19 a share in pre-market trading. Contact the author: [email protected] Follow him on Twitter @PatrickMGraham
Credit: Wochit - Published < > Embed
News video: Interesting Facts About Costco's Business

Interesting Facts About Costco's Business 00:47

Costco has attracted a cult following among shoppers since it first opened its doors in 1983. Business Insider reports that retailer didn't build up a reputation overnight. Costco runs 762 warehouses in 11 countries. Costco assigns special significance to its US and Canadian operations. Those two...

You Might Like

Recent related videos from verified sources

AdTech Doyenne, Target’s Kristi Argyilan, to Headline the Beet Retreat in San Juan Feb 5-7 [Video]AdTech Doyenne, Target’s Kristi Argyilan, to Headline the Beet Retreat in San Juan Feb 5-7

Kristi Argyilan, president of Target's Roundel unit, will be among the featured speakers at the annual Beet.TV executive retreat taking place in San Juan on February 5-7. From her days as president of..

Credit: BeetTV - Affiliate     Duration: 06:34Published

A huge 'ghost net' is haunting Hawaii's seas [Video]A huge 'ghost net' is haunting Hawaii's seas

WAILUKU, HAWAII — Ghost nets are commercial fishing nets discarded by fishers or lost in the ocean. The Maui News reports that local authorities are asking for the public's help to recover a very..

Credit: TomoNews US     Duration: 01:07Published

Recent related news from verified sources

Philips Stock Dips On Weak Q4 Profit, Mulls Options For Domestic Appliances Unit

Shares of Philips Electronics NV were losing around 3 percent in the morning trading in Amsterdam after the company reported weak profit in its fourth quarter,...

Johnson & Johnson posts higher sales, big 4Q profit jump

Higher prescription drug sales helped push Johnson & Johnson’s fourth-quarter profit up by 32%. The world’s biggest maker of health care products on...
Seattle Times

Tweets about this

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2020 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.