logo
Plus   Neg
Share
Email

Chico's FAS Initiates Q1, FY19 Outlook - Quick Facts

While reporting financial results for the fourth quarter and full-year 2018 on Wednesday, specialty retailer Chico's FAS Inc. (CHS) initiates guidance for the full-year 2019 and the first quarter.

For fiscal 2019, the Company anticipates a low-single-digit decline in total net sales and consolidated comparable sales compared to fiscal 2018.

For the first quarter of fiscal 2019, the Company anticipates a mid to high-single-digit decline in total net sales and consolidated comparable sales compared to the fiscal 2018 first quarter, reflecting softer sales throughout the month of February.

The company said it continues to execute the Chico's brand performance improvement plan to optimize its retail fleet and implement initiatives to improve its operating effectiveness. This outlook excludes expected net charges related to the retail fleet optimization plan.

For the fourth quarter, the company reported a comparable sales decline of 3.8%, driven by a decrease in transaction count and lower average dollar sale.

Separately, Chico's appointed Karen McKibbin as the new Chico's Brand President, effective April 1, 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amazon is expanding the aircraft fleet of its air cargo network by leasing 12 additional Boeing 767-300 converted cargo aircraft from Air Transport Services Group Inc. This comes amid increased demand for shipments due to the coronavirus pandemic. These aircraft will join Amazon Air's existing fleet of 70 aircraft to bring its total network to more than 80 aircraft. New York's transit agency The Metropolitan Transportation Authority or MTA has pulled its newest subway cars from service after two cars got detached from a moving train. New York City Transit Interim President Sarah Feinberg launched an investigation into the matter. The entire R179 fleet from Canadian company Bombardier Inc. has been pulled until further notice after the incident in Chambers AMC Entertainment Holdings, Inc., the world's largest theatre chain, said it has substantial doubt in its ability to continue its business as theaters across the world remain closed for months now following coronavirus or Covid-19 pandemic. In a regulatory filing, the company said it is "generating effectively no revenue", and that additional capital, if needed, may not be available.
Follow RTT