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

Apparel/Garments | On 22nd Mar 2017

Amazon India introduces 'A-Z GST Guide' programme

Amazon India has introduced a programme called 'A-Z GST Guide' to...

Textiles | On 22nd Mar 2017

Dyeing textiles with bacteria

As an alternative to toxic synthetic dyes, scientists are exploring...

Courtesy: BCG

Apparel/Garments | On 22nd Mar 2017

Consumption in India to touch $4 trillion by 2025: Report

Consumption in India is likely to triple to $4 trillion by 2025 as...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Jay Ramrakhiani
Occasions Elegance Wear

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search