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Chico's FAS posts Q4 2007 revenues & earnings
06
Mar '08
Chico's FAS Inc announced its financial results for the fourth quarter and fiscal year ended February 2, 2008.

Net sales for the thirteen-week period ended February 2, 2008 decreased 7.9% to $409.3 million from $444.6 million reported for the fourteen-week period ended February 3, 2007.

Net loss for the fiscal 2007 fourth quarter, which consisted of thirteen weeks, was $20.5 million, or $0.12 per diluted share, compared to net income of $18.2 million, or $0.10 per diluted share in the prior year's fourth quarter, which consisted of fourteen weeks.

As previously reported, comparable store sales decreased 15.7% for the thirteen- week period ended February 2, 2008 compared to the comparable thirteen-week period last year ended February 3, 2007 (with the Chico's brand same store sales decrease being approximately 16% and the WH|BM brand's same store sales decrease being approximately 17%).

Net sales for the fifty-two week fiscal year ended February 2, 2008 increased 4.3% to $1.71 billion from $1.64 billion for the fifty-three week fiscal year ended February 3, 2007. Net income for the fifty-two week fiscal year ended February 2, 2008 was $88.9 million, or $0.50 per diluted share, compared to $166.6 million, or $0.93 per diluted share, for the fifty-three week fiscal year ended February 3, 2007.

As previously reported, comparable store sales decreased 8.1% for the fifty-two week period ended February 2, 2008 compared to the comparable fifty-two week period last year ended February 3, 2007 (with the Chico's brand same store sales decrease being approximately 8% and the WH|BM brand's same store sales decrease being approximately 9%).


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