Chico’s FAS, Inc. Reports Holiday Sales

Chico’s FAS, Inc. (NYSE: CHS) (the “Company” or “Chico’s FAS”) today reported holiday sales and updated its outlook for fiscal 2021 fourth quarter sales and earnings. Molly Langenstein, Chico’s FAS Chief Executive Officer and President, and Patrick (“PJ”) Guido, Chico’s FAS Chief Financial Officer, will discuss progress on the Company’s strategic plan and these results at the ICR Conference today at 3:30 PM ET.

For the nine-week holiday period ending January 1, 2022, total net sales grew approximately 30% compared to the same period last year. Comparable sales for the nine-week holiday period grew approximately 31.5% over fiscal 2020. The Company has updated its fourth quarter outlook and expects fourth quarter net sales at the low end of the $495 million to $510 million range previously provided on November 30, 2021 and expects diluted earnings per share at the high end of the previously provided $0.00 to $0.05 range.

Langenstein commented, “Our team continues to build on the strong momentum in our turnaround strategy and successfully navigate through the uncertain macro environment. We expect to report our first profitable year since fiscal 2018 and the best fourth quarter performance since fiscal 2017. The progress we are making is a testament to our talented team and their solid execution in our product merchandising, marketing and customer engagement strategies. Our operating and cost discipline is contributing to our financial strength, which we believe positions us well to make investments that will support sustainable, profitable growth and value creation.”

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