Chico’s Q1 net sales up 1.6 percent

REPORT_ Chico's reported that for the thirteen weeks ended May 3, 2014, net sales were 681.6 million dollars, an increase of 1.6 percent

compared to 670.7 million dollars in last year's first quarter. Company’s net income was 39.9 million dollars compared to adjusted net income of 51.7 million dollars for the thirteen weeks ended May 4, 2013, and first quarter 2014 earnings per diluted share were 0.26 dollars compared to adjusted earnings per diluted share of 0.32 dollars in last year's first quarter.

Including the first quarter 2013 impact of non-recurring acquisition and integration costs of 0.6 million dollars after tax, or 0.01 dollars per diluted share, the company reported first quarter fiscal 2013 net income of 51.1 million dollars, or 0.31 dollars per diluted share.

Comparable sales for the first quarter decreased 2.6 percent following flat comparable sales in last year's first quarter. For the first quarter, the Chico's/Soma Intimates brands' comparable sales increased 0.4 percent following a 2.8 percent decrease in last year's first quarter. The Chico's brand experienced a decrease of less than 1 percent in comparable sales in the first quarter compared to a mid-single digit decrease in last year's first quarter, and the Soma Intimates brand experienced a high-single digit comparable sales increase in the first quarter compared to a mid-single digit increase in last year's first quarter. The White House | Black Market brand's comparable sales decreased 8.6 percent following a 6.4 percent increase in last year's first quarter.

For the fiscal 2014 second quarter, unaudited total sales and comparable sales through May 26, 2014 increased approximately 5 percent and 1 percent, respectively, compared to the same period last year.