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Traffic woes continue at Chico's FAS

Published 05/30/2018, 08:04 AM
Updated 05/30/2018, 08:04 AM
© Reuters.  Traffic woes continue at Chico's FAS
  • Chico's FAS (NYSE:CHS) reports comparable sales fell 5.9% in Q1, a sharper drop than the 4.1% decline expected bvy analysts. Traffic was "challenging" during the quarter, according to CEO Shelley Broader.
  • Comparable sales were down 6.6% for the White House Black Market business, 5.8% lower for the Soma business and 5.5% for the Chico's brand.
  • Gross margin was 40.4% of sales during the quarter vs. 40.7% a year ago. SG&A expenses rose to 33.2% of sales vs. 31.3% a year ago.
  • Looking ahead, Chico's expects a mid-to-high single digit decline in net sales and a low-to-mid single digit decline in consolidated comparable sales.
  • Shares of Chico's are down 12.71% in premarket action.
  • Previously: Chico's FAS misses by $0.03, beats on revenue (May 30)
  • Now read: Nordstrom (NYSE:JWN) - Intrinsic Valuation Shows Substantial Upside


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