Chicos FAS (CHS) Tops Q2 EPS by 3c

August 30, 2016 5:26 PM EDT

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Chicos FAS (NYSE: CHS) reported Q2 EPS of $0.25, $0.03 better than the analyst estimate of $0.22. Revenue for the quarter came in at $635.7 million versus the consensus estimate of $632.49 million.

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Fiscal 2016 Second Half Outlook Update

The fiscal 2016 second half outlook excludes Boston Proper for comparability purposes. The Company is anticipating a low single-digit comparable sales decline for the second half. The Company expects lower sales to result in a decrease in gross margin rate due to deleverage of store occupancy costs, partially offset by an increase in merchandise margin rate. This decrease is expected to be offset by a decline in SG&A as a percent of sales, resulting from the previously announced cost reduction and operating efficiency initiatives. Total inventory is expected to be in line with 2015 levels.

For earnings history and earnings-related data on Chicos FAS (CHS) click here.

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