For the thirteen weeks ended January 30, 2016, Chicos FAS reported adjusted earnings per diluted share of $0.05, compared to adjusted earnings per diluted share of $0.07 for the thirteen weeks ended January 31, 2015.
“The fourth fiscal quarter adjusted results exclude EPS charges of $0.21 in 2015 and $0.28 in fiscal 2015 primarily related to Boston Proper and restructuring and strategic charges,” Chicos observed in a press release.For the thirteen weeks ended January 30, 2016, Chicos FAS reported adjusted earnings per diluted share of $0.05, compared to adjusted earnings per #
Including the impact of net charges, the company reported a fourth quarter of fiscal 2016 net loss of $21.1 million, or $0.16 per diluted share, compared to a fourth quarter of fiscal 2015 net loss of $31.8 million, or $0.21 per diluted share.
For the reporting quarter, net sales were $627.4 million, a decrease of 4.5 per cent vis-à-vis $656.9 million in last fiscal's fourth quarter, primarily due to a 3.2 per cent decrease in comparable sales.
The 3.2 per cent decline in comparable sales for the fourth quarter was following a 4.3 per cent rise in the prior fiscal's fourth quarter.
For fiscal 2016, the company reported adjusted earnings per diluted share of $0.75 compared to adjusted earnings per diluted share of $0.73 for the fifty-two weeks ended January 31, 2015 or fiscal 2015.
According to Chicos, the adjusted results exclude net charges of $0.74 in fiscal 2016 and $0.31 in fiscal 2015.
Including the impact of the net charges, it recorded fiscal 2016 net income of $1.9 million, or $0.01 per diluted share, as against fiscal 2015 net income of $64.6 million, or $0.42 per diluted share.
For fiscal 2016, net sales were $2.642 billion, a drop of 1.2 per cent as against $2.675 billion in fiscal 2015, primarily reflecting a 1.5 per cent decrease in comparable sales.
Comparable sales decreased 1.5 per cent for fiscal 2016 compared to flat comparable sales in fiscal 2015, reflecting a decrease in average dollar sale and flat transaction count.
CEO Shelley Broader said, "Our responsiveness and disciplined inventory management allowed us to achieve positive gross margin leverage and a slight decline in total inventories over last fiscal.”
“Our business generated significant cash flow, which in combination with our healthy balance sheet, allowed us to return $334 million to our shareholders in the form of dividends and share repurchases," Broader too added. (AR)
Fibre2fashion News Desk - India