Chicos FAS (CHS) Misses Q2 EPS by 3c, Miss on Revenues; Lowers FY17 Gross Margin Outlook

Chicos FAS (NYSE: CHS) reported Q2 EPS of $0.18, $0.03 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $578.58 million versus the consensus estimate of $579.34 million.

• Delivered second quarter EPS of $0.18
• Continuing to execute on strategic priorities and cost reduction initiatives
• Announces Mary van Praag appointed as new Soma President

Fiscal 2017 Outlook

For fiscal 2017, the Company anticipates comparable sales to be down high single-digits with gross margin rate decreasing by approximately 75 to 100 basis points. The fiscal 2017 53rd week is not included in the comparable sales calculation. Net sales for the 53rd week are expected to approximate $30 million. The Company anticipates SG&A expense will be down approximately $50 to $60 million compared to last year.

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

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