Chico’s FAS, Inc. Reports Third Quarter Results

For the thirteen weeks ended October 28, 2017 (the “third quarter”), the Company reported net income of $16.7 million, or $0.13 per diluted share, compared to net income of $23.6 million, or $0.18 per diluted share, for the thirteen weeks ended October 29, 2016. Results for the third quarter include the unfavorable impact of hurricanes Harvey, Irma and Maria (collectively, the “Hurricanes”) of approximately $5.0 million after-tax, or $0.04 per diluted share. Results for the third quarter of 2016 include the unfavorable impact of restructuring and strategic charges and Boston Proper of $2.8 million after-tax, or $0.02 per diluted share.

For the thirty-nine weeks ended October 28, 2017, the Company reported net income of $73.0 million, or $0.57 per diluted share, compared to net income of $77.7 million, or $0.58 per diluted share, for the thirty-nine weeks ended October 29, 2016. Results for the thirty-nine weeks ended October 28, 2017 include the unfavorable impact of the Hurricanes of approximately $5.0 million after-tax, or $0.04 per diluted share. Results for the thirty-nine weeks ended October 29, 2016 include the unfavorable impact of restructuring and strategic charges and Boston Proper of $15.4 million after-tax, or $0.12 per diluted share.

“Results this quarter were in line with our expectations, and we are pleased with the progress on our strategic initiatives to better address customer needs and transform our business,” said Shelley Broader, CEO and President. “The Company’s performance shows that we are continuing to benefit from our organizational changes and our operating efficiency initiatives. We remain focused on driving top line growth and are making important improvements across our brands, including the expansion of special sizes, the broadening of omni-channel engagement and the creation of alternative sales channels to fuel growth. I also want to thank our team for their response to the challenges brought by the hurricanes this past quarter and am grateful that those impacted remained safe.”

For the third quarter, net sales were $532.3 million compared to $596.9 million in last year’s third quarter. This decrease of 10.8% primarily reflects a comparable sales decline of 8.2%, driven by lower average dollar sale and a decline in transaction count.

For the third quarter, gross margin was $196.7 million, or 37.0% of net sales, compared to $230.3 million, or 38.6% of net sales, in last year’s third quarter. This 160 basis point decrease primarily reflects deleverage of store occupancy costs as a percent of sales and store impairment charges related to the Hurricanes, partially offset by an improvement in merchandise margin.
more detail at:  http://chicosfas.com/investor-relations/press-releases/press-release-details/2017/Chicos-FAS-Inc-Reports-Third-Quarter-Results/default.aspx

Related Posts

Office Depot, Inc. Announces Fourth Quarter and Full Year 2017 Results

Total reported sales for the fourth quarter of 2017 were $2.6 billion compared to $2.7 billion in the fourth quarter of 2016, a decrease of 5%. Sales for the full year 2017 were $10.2 billion, a decline of 7% compared to the prior year. Fourth quarter and full year 2016 results benefited from an additional 53rd week sales of approximately $143 million and have been removed from our adjusted sales change below. In the fourth quarter of 2017, Office Depot reported operating income of $59 million. The Company recognized a net loss from continuing operations in the fourth quarter of 2017 of $48 million, or $0.09 per diluted share, resulting from a net tax expense of approximately $68 million associated with changes to the Company’s U.S. deferred tax assets and tax valuation allowance due to recent tax law reform. Click Read More below for additional information.

Hachette Sales Up 5% in First Half of 2017

Revenue at Hachette Book Group rose 5.4% in the first half of 2017, over the comparable period in 2016, parent company Lagardere reported. The gain excludes $24 million from the Perseus Books publishing division, which Lagardere bought in March 2016. Total revenue at Lagardere’s Publishing unit—Hachette Livre—increased 5.1% , to 1.02 billion euros, over the first six months of 2016. Recurring EBIT (earnings before interest and taxes) rose 14%, to 41 million euros. In the U.S., Lagardere said the increase was due mainly to the performance of Hachette Nashville, home of FaithWords and Center Street, as well as to such successful titles such as The Fix by David Baldacci and The Black Book by James Patterson. Click Read More below for more of the story.

How TikTok Helped Fuel The Best-Selling Year For Print Books (forbes.com)

Readers purchased 825 million copies of print books in the U.S. in 2021—the best-selling year for print books, NPD Bookscan says, since it began tracking data in 2004—and analysts believe young people posting about books on social media played a serious role in those big numbers. The U.S. print book market was up 9% compared to 2020, according to NPD Bookscan, finishing 67 million copies ahead of 2020, and selling 125 million more copies than in 2019. Kristen McLean, executive director and industry analyst at NPD Bookscan, said social media—particularly TikTok users who post about books, known collectively as BookTok—has “definitely been a factor” in surging book sales, along with the pandemic in general, with many of the sales gains coming in Q1 and Q2 before the Covid-19 vaccines were widely available.
Back To Top
×Close search
Search