logo
Plus   Neg
Share
Email

Chico's FAS Updates Full-year 2019 Outlook - Quick Facts

While reporting financial results for the first quarter on Tuesday, specialty retailer Chico's FAS Inc. (CHS) updated its sales guidance for the full-year 2019 and initiated outlook for the second quarter.

For fiscal 2019, the company now anticipates a low-to mid-single digit decline in total net sales and consolidated comparable sales, compared to the previous guidance for a low-single digit decline in total net sales and consolidated comparable sales.

The company expects stronger sales trends across all brands in the second half of the year, as key initiatives gain traction.

For the second quarter, the company anticipates a mid-single digit decline in total net sales and consolidated comparable sales compared to the fiscal 2018 second quarter, reflecting expected softer sales in its White House Black Market brand, which will continue through the second quarter.

However, the company expects that sales at the Chico's and Soma brands will improve in the second quarter compared to the first.

For the first quarter, the company reported a comparable sales decline of 7.0 percent, driven by lower average dollar sale and a decrease in transaction count. This compared to comparable sales decline of 5.9 percent last year.

Additionally, the company said it is making progress on its previously announced search for a permanent CEO. The Board's search committee has met with a number of exceptionally qualified candidates and is pleased with the quality of the apparel executives with merchandising experience that it is seeing.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Stage Stores, Inc. (SSI) hit a new 52-week high of $6.74 today, which is a giant leap forward for a stock that was perilously close to delisting just a few months ago. The stock has been experiencing positive momentum, after raising expectations for fiscal 2019. Amazon founder and Chief Executive Jeff Bezos said his company will continue to support the U.S. Department of Defense, noting that the U.S. will be in "big trouble" if big technology companies stop working with the Pentagon. "We are going to support the Department of Defense, this country is important," Bezos said at the annual Reagan National Defense Forum in Simi Valley, California. Surly Bikes recalled 5,139 units of Surly front bicycle racks for possible crash and injury hazards, a statement by the U.S. Consumer Product Safety Commission showed. The company said the front bicycle rack can loosen and contact the front wheel, resulting in crash and injury hazards to the rider.The recall involves Surly 8-pack racks and Surly 24-pack front bicycle racks and Pack Rat bicycles.
RELATED NEWS
Follow RTT
>