Chicos FAS (CHS) Q4 Revenue Tops Views

Chicos FAS (NYSE: CHS) reported Q4 EPS of $0.22, may not compare to the analyst estimate of $0.09 (including $0.08 benefit from U.S. tax reform) .Revenue for the quarter came in at $587 million versus the consensus estimate of $579.62 million.

Comps declined 5.2%,

2018 Full-Year Outlook

For fiscal 2018, the Company is anticipating a low single-digit decline in consolidated comparable sales with comparable sales performance stronger in the second half of the year compared to the first half.

The Company expects gross margin expansion in the range of 125 to 150 basis points over fiscal 2017, driven by decreased average unit costs and planned improvement in promotions. The Company also anticipates SG&A expenses to be approximately flat compared to fiscal 2017.

The Company estimates a fiscal 2018 tax rate in the range of 26% to 28%. The rate includes the benefit of the new 21% federal rate, partially offset by additional expenses due to changes in the deductibility of executive compensation and a lower benefit from state tax deductions.

In addition, the Company anticipates 2018 capital expenditures to be $70 million to $80 million, primarily driven by store reinvestments and technology enhancements.

ABOUT CHICO\'S FAS, INC.

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