Chicos FAS (CHS) Tops Q1 EPS by 9c

Chicos FAS (NYSE: CHS) reported Q1 EPS of ($0.08), $0.09 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $388 million versus the consensus estimate of $320.65 million.

Fiscal 2021 Outlook:

Given the ongoing market volatility and related uncertainty caused by the COVID-19 pandemic, the Company is not providing specific fiscal 2021 guidance at this time.

The Company is, however, providing information on its planning expectations for the fiscal 2021 full year. At this time, the Company expects:

• Consolidated year-over-year net sales improvement between 28% to 34%;
• Gross margin rate improvement of 18 to 20 percentage points over last fiscal year;
• SG&A as a percent of net sales to improve 500 to 600 basis points year-over-year; and
• Income tax expense of approximately $0.5 million.

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

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