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Chico's declares Oct sales results, lowers Q3 earning estimate

03
Nov '06
Chico's FAS Inc reported October sales results for the four-week period ended October 28, 2006, increased 9.9% to $125.3 million from $114.0 million reported for the prior year's four-week period ended October 29, 2005. Comparable store sales for the Company-owned stores decreased 4.1% for the four-week period ended October 28, 2006, compared to the same four-week period last year.

Total sales for the third quarter ended October 28, 2006 increased 12.1% to $402 million from $359 million for the same period a year ago. Comparable store sales for the Company-owned stores decreased 1.2% for the thirteen-week period compared to the same thirteen-week period last year.

For the thirty-nine weeks ended October 28, 2006, total sales increased 16.5% to $1.199 billion from $1.029 billion for the same period a year ago. Comparable store sales for the Company-owned stores increased 3.6% for the thirty-nine week period compared to the same thirty-nine week period last year.

Scott A. Edmonds, President and CEO, stated, "We are disappointed with our October sales results. Accordingly, we are reducing our third quarter earnings estimate to $.22 - $.25, and will provide further updates on our third quarter earnings conference call on November 29, 2006."

Chico's FAS Inc


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