Chico’s reports Q3 net income of 18.2 million dollars

For the third quarter, Chico’s FAS reported net income of 18.2 million dollars or 15 cents per diluted share compared to a net loss of 55.9 million dollars or 48 cents per diluted share for last year’s third quarter. The company reported a third quarter adjusted net income of 22.1 million dollars or 18 cents per share.

For the thirty-nine weeks ended October 30, 2021, the company reported net income of 35.5 million dollars or 29 cents per diluted share compared to a net loss of 281 million dollars or 2.43 dollars per diluted share, for the same period ended October 31, 2020. The company reported an adjusted net income of 39.4 million dollars or 32 cents per share.

For the third quarter, net sales were 453.6 million dollars, up 29.1 percent, while total comparable sales declined 2.7 percent, with Soma improving 43.5 percent and Chico’s and WHBM decreasing 16.2 percent and 4.9 percent, respectively.

For the fourth quarter the company expects consolidated net sales of 495 million dollars to 510 million dollars; gross margin rate as a percent of net sales of 33 percent to 34.5 percent and earnings per diluted share between 0 to 5 cents.