Home / Knowledge / News / Apparel/Garments / Chico's Q4'13 adjusted EPS falls to $0.04
Chico's Q4'13 adjusted EPS falls to $0.04
28
Feb '14
Chico's FAS, Inc. announced its financial results for the fiscal 2013 fourth quarter and fiscal year ended February 1, 2014.
 
For the thirteen weeks ended February 1, 2014 (the fourth quarter), the Company reported adjusted net income of $5.9 million compared to adjusted net income of $32.7 million for the fourteen weeks ended February 2, 2013, and fourth quarter 2013 adjusted earnings per diluted share of $0.04 compared to adjusted earnings per diluted share of $0.20 in last year's fourth quarter. 
 
The adjusted results exclude the fourth quarter 2013 impact of tax charges related to the Boston Proper non-cash goodwill impairment charge recorded in the third quarter of 2013 and the fourth quarter 2012 impact of non-recurring acquisition and integration costs, as presented in the accompanying GAAP to non-GAAP reconciliation. 
 
Including the fourth quarter 2013 tax impact of the non-cash goodwill impairment charge of $6.2 million, or $0.04 per diluted share, and the fourth quarter 2012 impact of non-recurring acquisition and integration costs of $1.2 million after tax, or $0.01 per diluted share, the Company reported a fourth quarter 2013 net loss of $0.3 million, or $0.00 per diluted share compared to fourth quarter 2012 net income of $31.5 million, or $0.19 per diluted share.
 
For the fifty-two weeks ended February 1, 2014 (fiscal 2013), the Company reported adjusted net income of $137.0 million compared to adjusted net income of $182.2 million for the fifty-three week year ended February 2, 2013 (fiscal 2012), and fiscal 2013 adjusted earnings per diluted share of $0.85 compared to adjusted earnings per diluted share of $1.09 in fiscal 2012. 
 
The adjusted results exclude the fiscal 2013 impact of Boston Proper non-cash goodwill and trade name impairment charges and the fiscal 2013 and 2012 impact of non-recurring acquisition and integration costs, as presented in the accompanying GAAP to non-GAAP reconciliation. 
 
Including the fiscal 2013 impact of the Boston Proper non-cash goodwill and trade name impairment charges of $70.5 million after tax, or $0.44 per diluted share, and non-recurring acquisition and integration costs in fiscal 2013 and 2012 of $0.6 million after tax, or $0.00 per diluted share, and $2.0 million after tax, or $0.01 per diluted share, respectively, the Company reported fiscal 2013 net income of $65.9 million, or $0.41 per diluted share compared to fiscal 2012 net income of $180.2 million, or $1.08 per diluted share.
 
Net Sales
For the fourth quarter, net sales were $610.2 million, a decrease of 6.4% compared to $651.9 million in last year's fourth quarter, primarily reflecting 115 net new stores for a square footage increase of 8.4%, offset by a decrease in comparable sales and approximately $38 million attributable to the fifty-third week of fiscal 2012. 
 
 
Click here to view full results.

Chico's


Must ReadView All

EU, Japan finalise Economic Partnership Agreement

Textiles | On 18th Dec 2017

EU, Japan finalise Economic Partnership Agreement

Building on the political agreement reached in principle during the...

WTO, ITC launch cotton portal to enhance transparency

Textiles | On 18th Dec 2017

WTO, ITC launch cotton portal to enhance transparency

The World Trade Organisation (WTO) and the International Trade Centre ...

India much behind China in containerised cargo capacity

Textiles | On 18th Dec 2017

India much behind China in containerised cargo capacity

India’s total containerised cargo capacity of 8.75 million...

Interviews View All

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Top executives
Textile & apparel bodies

The decision is transformational

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search