Retailer of women's clothing and accessories Chicos FAS scripted a turnaround by reporting a net income at $23.6 million, or $0.18 per diluted share in the three months ended October 29, 2016. As against this, the apparel retailer posted a net loss of $11.6 million, or $0.09 per diluted share, for the thirteen weeks ended October 31, 2015.
In the third quarter of fiscal 2016, the company posted adjusted net income of $26.4 million, or $0.20 adjusted earnings per diluted share, compared to adjusted net income of $17.7 million, or $0.13 adjusted earnings per diluted share in the fiscal ago quarter.Retailer of women's clothing and accessories Chicos FAS scripted a turnaround by reporting a net income at $23.6 million, or $0.18 per diluted share in the three months ended October 29, 2016. As against this, the apparel retailer posted a net loss of $11.6 million, or $0.09 per diluted share, for the thirteen weeks ended October 31, 2015.#
According to Chicos', adjusted results exclude EPS net charges of $0.02 in fiscal 2016 and $0.22 in fiscal 2015 related to restructuring and strategic charges and Boston Proper.
In the reporting quarter, net sales stood at $596.9 million vis-à-vis $645.4 million in the prior fiscal's third quarter, down 7.5 per cent which also includes $18.7 million related to Boston Proper.
Net sales declined 4.8 per cent, when excluding Boston Proper from fiscal 2015, which primarily reflect a decrease in comparable sales of 4.9 per cent. (AR)
Fibre2Fashion News Desk – India