Home / Knowledge / News / Apparel/Garments / Chico's CEO disappoints with Sept sales results
Chico's CEO disappoints with Sept sales results
10
Oct '08
Chico's FAS Inc reported that its net sales for the five-week period ended October 4, 2008, decreased 9.3% to $159.5 million from $175.9 million reported for the five-week period ended October 6, 2007.

Comparable store sales decreased 15.6% for the five-week period ended October 4, 2008 compared to the same five-week period last year ended October 6, 2007.

For the thirty-five weeks ended October 4, 2008, net sales decreased 7.9% to $1.091 billion from $1.184 billion reported for the thirty-five week period ended October 6, 2007.

Comparable store sales decreased 15.9% for the thirty- five week period ended October 4, 2008 compared to the thirty-five week period last year ended October 6, 2007.

Chico's FAS Inc Chairman, President, and CEO, Scott A. Edmonds, commented, "Our disappointing September sales results reflect the deteriorating macro economic environment.

This, combined with the unstable financial markets, has caused us to essentially withdraw our previous earnings outlook for the second half of this year as predictability of future results is extremely difficult at this time.

In order to address this situation, we continue to review every aspect of cost control, including inventory, capital expenditures, headcount, and line-item expense levels, and continue to believe the Company will generate positive free cash flow for the year.

Additionally, we maintain a strong balance sheet with approximately $270 million in cash and marketable securities and no debt."

The Company is a specialty retailer of private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items.

The Company operates 1,075 women's specialty stores, including stores in 49 states, the District of Columbia, the U.S. Virgin Islands and Puerto Rico operating under the Chico's, White House | Black Market and Soma Intimates names.

The Company has 618 Chico's front-line stores, 41 Chico's outlet stores, 326 White House | Black Market front-line stores, 19 White House | Black Market outlet stores, 70 Soma Intimates front- line stores and 1 Soma Intimates outlet store.

Chico's FAS Inc

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Steve Cole
Xerium Technologies

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

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

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