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Stock impact report

Chico's misses profit and sales expectations, provides downbeat outlook [MarketWatch]

Chico's FAS, Inc. (CHS) 
Last chico's fas, inc. earnings: 2/27 07:02 am Check Earnings Report
Company Research Source: MarketWatch
Chico's misses profit and sales expectations, provides downbeat outlook Chico's FAS Inc. CHS, -18.67% reported a fiscal first-quarter net profit that rose to $33.6 million, or 26 cents a share, from $31.1 million, or 23 cents a share, in the same period a year ago. The FactSet consensus for earnings per share was 29 cents. The women's apparel retailer said revenue dropped to $583.7 million from $643.0 million, missing the FactSet consensus of $624.8 million. Overall same-store sales declined 8.7%, compared with the FactSet consensus of a 2.2% decline, amid big misses at Chico's and White House Black Market stores and an inline performance at Soma. The company expects 2017 same-store sales to decline in the "mid single-digit" percentage range, while the FactSet consensus was for a decline of 1.7%. The stock, which was still inactive in premarket trade, has tumbled 23% year to date, while the SPDR S&P Retail ETF XRT, -0.76% has lost 8% and the S&P 500 SPX, +0.06% has gained 7.1 Show less Read more
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