Chico's news and archive

Chico’s posts increase in Q1 profit, but lowers FY outlook

US retailer Chico’s has lowered its full-year outlook after reporting widening profits but a drop in sales in the first quarter. The women's clothing and accessories company posted a net income of 39.9 million dollars in the three months to April 29, up from 34.9 million dollars a year earlier. Despite the increase in profitability, the retailer...

Business

Chico’s FY22 earnings jump, sales up 18.3 percent

Chico's FAS posted net income of 109 million dollars or 88 cents per diluted share for fiscal 2022, an increase of 138 percent over last year, driven by strong comparable sales growth, significant gross margin expansion, and diligent expense control. For fiscal 2022, Chico's FAS net sales grew 18.3 percent to 2,142 million dollars and comparable...

Business

Chico’s lowers fourth quarter sales and earnings outlook

Ahead of the company’s participation in the ICR Conference, Chico’s FAS said that it now expects total fourth quarter net sales to range from 505 million dollars to 515 million dollars and diluted loss per share to range from 2 cents to 0 cents. During the third quarter results announcement, the company forecasted fourth quarter consolidated net...

Business

Chico’s posts rise in Q3 net sales and earnings

For the third quarter, Chico’s reported net income of 24.6 million dollars or 20 cents per diluted share compared to 18.2 million dollars or 15 cents per diluted share, for last year's third quarter. Net sales for the quarter were 518.3 million dollars, up 14.3 percent improvement primarily reflecting a comparable sales increase of 16.5 percent,...

Business

Christine Munnelly joins Chico’s as SVP of merchandising & design for Soma

Chico's FAS, Inc. has announced the appointment of executive Christine Munnelly as the senior vice president of merchandising & design at Soma. The company said in a release that she will be responsible for the product, design and overall strategy for Soma and will report directly to Molly Langenstein, CEO and president of Chico's FAS....

Chico's Q2 revenue up 18 percent, profits widen

US women's clothing and accessories retailer Chico’s has reported an 18.4 percent increase in sales in the second quarter. In the three months ending July 30, net sales were 558.7 million dollars, up from 472.1 million dollars a year earlier. The company said this growth reflected a comparable sales increase of 19.5 percent, though that was...

Business

Chico’s swings to profit, comparable sales jump 40.6 percent

Chico's FAS, Inc. posted 43.9 million dollars or 28 cents net income per diluted share for the first quarter compared to a net loss of 8.9 million dollars or 8 cents loss per diluted share, for last year's first quarter. Net sales were 540.9 million dollars, up 39.4 percent reflecting a comparable sales increase of 40.6 percent, partially offset...

Business

Chico's to cross 2.5 billion revenue target by 2024

At its virtual investor day, Chico's FAS, Inc. set out three-year financial targets. The company said it expects to report total revenues in excess of 2.5 billion dollars by 2024, while digital revenues are expected to cross 1 billion dollars. The company forecasts gross margin rate of 40 percent, equating to 330 basis points of expansion from...

Business

Chico’s appoints Kevin Mansell as the next board chairman

Chico's FAS, Inc. has appointed Kevin Mansell as the next chair of the board, effective immediately following the company's 2022 annual meeting of shareholders. With Mansell's appointment, the company said, Bonnie Brooks, who has served as executive chair of the board since 2020 and will continue to serve as a director and a member of the...

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Chico’s reports Q4 net income of 10.7 million dollars

Chico's FAS, Inc. fourth quarter net income was 10.7 million dollars or 9 cents per diluted share compared to a net loss of 79.1 million dollars or 68 cents per diluted share, for the same period last year. For fiscal 2021, the company reported net income of 46.2 million dollars or 37 cents per diluted share compared to a net loss of 360.1...

Business

Nike executive Eli Kumekpor joins Chico’s board of directors

Chico's FAS, Inc. has appointed Eli Kumekpor of Nike, Inc to the company's board of directors as a new independent director, effective February 21, 2022. The company also announced that Stephen E. Watson will not stand for re-election to the board at the company's 2022 annual meeting of shareholders. Kumekpor, the company said in a release,...

Business

Chico’s holiday sales increase 30 percent

Chico’s FAS, Inc., for the nine-week holiday period ending January 1, 2022, reported total net sales growth of approximately 30 percent compared to the same period last year. Comparable sales for the holiday period grew approximately 31.5 percent over fiscal 2020. The company expects fourth quarter net sales at the low end of the 495 million...