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Chico’s sales and earnings improve in Q1

By Prachi Singh

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For the thirteen weeks ended May 2, 2015, Chico’s reported adjusted net income of 41.8 million dollars compared to net income of 39.9 million dollars, same quarter ended May 3, 2014. Adjusted earnings per diluted share were 0.28 dollars compared to 0.26 dollars in last year's first quarter.

Net sales were 693.3 million dollars, an increase of 1.7 percent compared to 681.6 million dollars in last year's first quarter, primarily reflecting 56 net new stores.

Net sales improvement was partially offset by a 0.1 percent decrease in comparable sales. The 0.1 percent decrease in comparable sales for the first quarter was following a 2.6 percent decrease in last year's first quarter. As of May 2, 2015, the company operated 1,552 stores in the US and Canada and sold merchandise through franchise locations in Mexico.

Chico's