Chicos FAS (CHS) Tops Q2 EPS by 3c
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.
Comparable Sales
Thirteen Weeks Ended | Twenty-six weeks ended | |||||||
July 30, 2016 | August 1, 2015 | July 30, 2016 | August 1, 2015 | |||||
Chico's | (5.1)% | 0.9% | (5.3)% | (0.8)% | ||||
White House Black Market | (1.3)% | (1.9)% | (2.7)% | 0.0% | ||||
Soma | 0.7% | 5.1% | 0.6% | 5.7% | ||||
Total Company | (3.1)% | 0.5% | (3.7)% | 0.2% | ||||
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.