Chico's Q2 revenues fall 5.9 percent

American women's clothing retailer Chico's said on Wednesday its Q2 revenue for 2018 declined by 5.9 percent, while net income declined by 26 percent from the same period last year. For the 26 weeks period, Chico's reported net income of 45.8 million dollars or 0.36 dollar per diluted share compared to 56.3 million dollars or 0.44 dollar per diluted share for the same period last year.

The company’s sales in Q2 2018 were 544.7 million US dollars, down from 578.6 million US dollars a year earlier, reflecting comparable sales decline of 3.2 percent. Net income slid to 16.8 million US dollars. The profit margin of the company declined to 3.1 percent compared to 3.9 percent a year ago.

Chico's FAS Inc was founded in 1983 by Helene Gralnick, Marvin J. Gralnick and is based in Fort Myers, United States. The Chico’s brand was founded as a boutique selling Mexican folk art and cotton sweaters from a store on Florida’s Sanibel Island. The company, today offers on-trend women's clothing, intimates and accessories through its brands – Chico's, White House Black Market (WHBM), and Soma.

Offering women's clothing, intimates and accessories, the New York-listed company has about 21,000 employees worldwide and operates more than 1,450 stores.

For more recent news on the business, collections and executive changes of Chico's FAS Inc, click here.

Picture:Chico's media gallery