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

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Anshul Sood
Oceedee

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

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Liz Manning

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

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

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

Larry L Kinn
Suominen Corporation

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

October 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
76.8%
No
13.0%
Skip
10.1%

Total Votes: 69

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
62.3%
No
27.5%
Skip
10.1%

Total Votes: 69

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
85.5%
No
10.1%
Skip
4.3%

Total Votes: 69

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
75.4%
No
11.6%
Skip
13.0%

Total Votes: 69


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