Chico’s FAS, Inc. Reports Holiday Sales

Chico’s FAS, Inc. (NYSE: CHS) (the “Company” or “Chico’s FAS”) today reported holiday sales and updated its outlook for fiscal 2021 fourth quarter sales and earnings. Molly Langenstein, Chico’s FAS Chief Executive Officer and President, and Patrick (“PJ”) Guido, Chico’s FAS Chief Financial Officer, will discuss progress on the Company’s strategic plan and these results at the ICR Conference today at 3:30 PM ET.

For the nine-week holiday period ending January 1, 2022, total net sales grew approximately 30% compared to the same period last year. Comparable sales for the nine-week holiday period grew approximately 31.5% over fiscal 2020. The Company has updated its fourth quarter outlook and expects fourth quarter net sales at the low end of the $495 million to $510 million range previously provided on November 30, 2021 and expects diluted earnings per share at the high end of the previously provided $0.00 to $0.05 range.

Langenstein commented, “Our team continues to build on the strong momentum in our turnaround strategy and successfully navigate through the uncertain macro environment. We expect to report our first profitable year since fiscal 2018 and the best fourth quarter performance since fiscal 2017. The progress we are making is a testament to our talented team and their solid execution in our product merchandising, marketing and customer engagement strategies. Our operating and cost discipline is contributing to our financial strength, which we believe positions us well to make investments that will support sustainable, profitable growth and value creation.”
https://chicosfas.com/investors/press-releases/press-release-details/2022/Chicos-FAS-Inc.-Reports-Holiday-Sales-and-Updated-Fourth-Quarter-Outlook/default.aspx

Related Posts

Service Performance Remains Steady Across Postal Service Network

FY24 first quarter service performance scores covering October 1 through November 10, included: *First-Class Mail: 87.8 percent of First-Class Mail delivered on time against the USPS service standard, a decrease of 3.3 percentage points from the fiscal fourth quarter. *Marketing Mail: 94.5 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter. *Periodicals: 85.4 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter.

Gannett Announces Ongoing Debt Reduction

Gannett Co., Inc. announced it will repurchase $14.0 million of 6.00% first lien notes due November 1, 2026 for approximately $12.0 million, representing a discount to par value. The transaction is expected to close on November 17, 2023. In connection with the repurchase of the 2026 Senior Notes, the Company will receive a waiver from certain lenders under its five-year senior secured term loan facility that will reduce the scheduled amortization payment for the fiscal quarter ending December 31, 2023 payable to those lenders by the amount spent by the Company to repurchase the 2026 Senior Notes. "We continue to opportunistically take out additional senior notes below par value by working with our lenders, and this repurchase mirrors the executed agreement announced in mid-September," said Michael Reed, Chairman and Chief Executive Officer. "With the closing of this transaction, and subsequent to the third quarter, we will have repaid $20.2 million of debt, which will bring our year-to-date total to approximately $138.0 million, which exceeds our initial projections outlined at the beginning of the year.

J.Crew Group, Inc. Announces Second Quarter Fiscal 2017 Results

Second Quarter highlights: •Total revenues decreased 2% to $560.9 million. Comparable company sales decreased 5% following a decrease of 8% in the second quarter last year. •J.Crew sales decreased 7% to $443.1 million. J.Crew comparable sales decreased 8% following a decrease of 9% in the second quarter last year. •Madewell sales increased 19% to $93.1 million. Madewell comparable sales increased 11% following an increase of 3% in the second quarter last year. •Gross margin increased to 38.6% from 35.7% in the second quarter last year. Click Read More below for additional detail.
Back To Top
×Close search
Search