Chico's FAS Q3 Profit Beats Estimates; Comps. Up 28% - Quick Facts

Chico's FAS, Inc. (CHS) said its quarterly earnings represent the best third quarter performance since 2016. Comparable sales growth of 28% was driven by outperformance in store and digital sales channels, the company noted. Comparable sales at Chico's increased 23.3%.

For the third quarter, net income was $18.2 million, or $0.15 per share, compared to a net loss of $55.9 million, or $0.48 per share, a year ago. Excluding legal settlement charges, adjusted net income was $22.1 million, or $0.18 per share, for the quarter.

Analysts polled by Thomson Reuters expected the company to report a loss per share of $0.02, for the quarter. Analysts' estimates typically exclude special items.

Net sales were $453.6 million compared to $351.4 million, prior year. Analysts on average had estimated $426.1 million in revenue.

For the fourth quarter, the company currently expects: consolidated net sales of $495 million to $510 million; and earnings per share of $0.00 to $0.05.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Cryptocurrency Dogecoin's price jumped over 15% on Friday, but later lost some of the gains, after Tesla Inc. (TSLA) CEO Elon Musk announced that the luxury car maker will start accepting the meme cryptocurrency as payment for its merchandise. "Tesla merch buyable with Dogecoin," Musk tweeted on Friday. Dogecoin... US investment bank JPMorgan Chase & Co. reported Friday a profit for the fourth quarter that declined 14 percent from last year, hurt primarily by higher noninterest expense and lower credit reserve releases. Both adjusted earnings per share and revenues for the quarter topped analysts' expectations. Microsoft Corp. said its Board of Directors has initiated a review of the effectiveness of its workplace sexual harassment and gender discrimination policies and practices. The company has hired the law firm of Arent Fox to conduct the review mainly on sexual harassment investigations, including that of co-founder Bill Gates.
Follow RTT