Wal-Mart Stores Inc., playing catch-up with Amazon.com Inc., is making a bigger bet on Cyber Monday. The retailer plans to start offering its Cyber Monday deals on more than 2,000 items -- four times the number of discounts it had last year -- starting at 8 p.m. Eastern time on the Sunday night before. The promotions will come in addition to its Black Friday specials, which it will begin offering online starting Thanksgiving morning. Cyber Monday -- the first Monday after Thanksgiving -- has long been touted as the day when online retailers roll out their holiday specials. But Wal-Mart and its rivals are increasingly spreading out discounts over a longer period of time. Amazon began offering special discounts on Nov. 20, a week before Black Friday, the traditional start of the holiday shopping season.
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