Chico's FAS (CHS) Oct Comps Down 10.6%, Lowers EPS Guidance
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Chico's FAS, Inc. (NYSE: CHS) said comparable store sales for the Company-owned stores decreased 10.6% for the four-week period ended November 3, 2007.
Total sales for the thirteen-week period ended November 3, 2007 increased 3.4% to $416 million.
The company said, "At this time, we believe that it is prudent to take a much more conservative approach to our outlook for the remainder of the year. Based on lower than expected overall sales and merchandise margins, we expect earnings per share for the third quarter to be in the $.10 to $.13 range, which includes an approximately $.02 gain for the lucy transaction." The consensus is $0.17.
Total sales for the thirteen-week period ended November 3, 2007 increased 3.4% to $416 million.
The company said, "At this time, we believe that it is prudent to take a much more conservative approach to our outlook for the remainder of the year. Based on lower than expected overall sales and merchandise margins, we expect earnings per share for the third quarter to be in the $.10 to $.13 range, which includes an approximately $.02 gain for the lucy transaction." The consensus is $0.17.
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