Driven down by a $26.3 million decline in Boston Proper sales, net revenue at apparel retailer Chicos FAS fell to $635.7 in the thirteen weeks ended July 30, 2016, down 7.3 per cent from $685.8 million in last fiscal's second quarter. Excluding decline in Boston Proper, net turnover dropped 3.6 per cent, primarily from a dip of 3.1 per cent in comparable sales.
According to Chicos FAS, the 3.1 per cent decrease in comparable sales for the second quarter of fiscal 2017 followed a 0.5 per cent increase in the prior fiscal's same quarter, and reflected reduced transaction count and slightly lower average dollar sales.Driven down by a $26.3 million decline in Boston Proper sales, net revenue at apparel retailer Chicos FAS fell to $635.7 in the thirteen weeks ended July 30, 2016, down 7.3 per cent from $685.8 million in last fiscal's second quarter. Excluding decline in Boston Proper, net turnover dropped 3.6 per cent, primarily from a dip of 3.1 per cent in comparable...#
In the three months ended July 30, 2016, net income soared to $23.0 million, or $0.17 per diluted share, compared to net income of $2.1 million, or $0.02 per diluted share for the second quarter of fiscal 2016.
In the reporting quarter, adjusted net income was $33.3 million, or $0.25 adjusted earnings per diluted share as against adjusted net income of $37.6 million, or $0.26 adjusted earnings per diluted share in the fiscal ago quarter.
According to the apparel retailer, adjusted results exclude EPS charges of $0.08 in fiscal 2017 related to restructuring and strategic charges. (AR)
Fibre2Fashion News Desk – India