Chicos FAS (CHS) Misses Q1 EPS by 3c, Comps Fall 8.7%
Chicos FAS (NYSE: CHS) reported Q1 EPS of $0.26, $0.03 worse than the analyst estimate of $0.29. Revenue for the quarter came in at $583.7 million versus the consensus estimate of $624.75 million.
This revenue decrease of 9.2% primarily reflects a decline in comparable sales of 8.7%, driven by lower average dollar sale and a decline in transaction count.
Shelley Broader, CEO and President, said, "In this challenging retail environment, we remain steadfast in executing against our strategic plan to increase profitable sales and long-term earnings. Our flexible and profitable operating model allowed us to drive improvement in our operating income rate and earnings per share compared to last year even though our comparable sales in the quarter were below our expectations."
For earnings history and earnings-related data on Chicos FAS (CHS) click here.