Chico's reported its net loss for Q1 dropped on Wednesday. Revenues dropped by 45.9 percent from the same period last year.

For Q1, the company's net profit was -178 million dollars, which decreased from 2 million dollars last year. Furthermore, revenues decreased to 280 million dollars. The profit margin of the company decreased to -64 percent compared to 0 percent a year ago.

Chico's FAS Inc. (NYSE: CHS) through its brands is a specialty retailer of private branded, casual-to-dressy clothing, intimates, complementary accessories and also non-clothing gift items. The company operates over 1,450 boutiques and outlets throughout the United States and Canada, and sells merchandise through franchise locations in Mexico. Chico’s was founded in 1983.

As of 2,020, Chico's has more than 17,100 employees and operates over 1,300 stores.

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