Home / Knowledge / News / Apparel/Garments / Chico's CEO disappoints with Sept sales results
Chico's CEO disappoints with Sept sales results
10
Oct '08
Chico's FAS Inc reported that its net sales for the five-week period ended October 4, 2008, decreased 9.3% to $159.5 million from $175.9 million reported for the five-week period ended October 6, 2007.

Comparable store sales decreased 15.6% for the five-week period ended October 4, 2008 compared to the same five-week period last year ended October 6, 2007.

For the thirty-five weeks ended October 4, 2008, net sales decreased 7.9% to $1.091 billion from $1.184 billion reported for the thirty-five week period ended October 6, 2007.

Comparable store sales decreased 15.9% for the thirty- five week period ended October 4, 2008 compared to the thirty-five week period last year ended October 6, 2007.

Chico's FAS Inc Chairman, President, and CEO, Scott A. Edmonds, commented, "Our disappointing September sales results reflect the deteriorating macro economic environment.

This, combined with the unstable financial markets, has caused us to essentially withdraw our previous earnings outlook for the second half of this year as predictability of future results is extremely difficult at this time.

In order to address this situation, we continue to review every aspect of cost control, including inventory, capital expenditures, headcount, and line-item expense levels, and continue to believe the Company will generate positive free cash flow for the year.

Additionally, we maintain a strong balance sheet with approximately $270 million in cash and marketable securities and no debt."

The Company is a specialty retailer of private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items.

The Company operates 1,075 women's specialty stores, including stores in 49 states, the District of Columbia, the U.S. Virgin Islands and Puerto Rico operating under the Chico's, White House | Black Market and Soma Intimates names.

The Company has 618 Chico's front-line stores, 41 Chico's outlet stores, 326 White House | Black Market front-line stores, 19 White House | Black Market outlet stores, 70 Soma Intimates front- line stores and 1 Soma Intimates outlet store.

Chico's FAS Inc


Must ReadView All

Courtesy: Pexels

Textiles | On 20th Sep 2018

Risk to US consumers grows with tariff escalation: NRF

The US National Retail Federation (NRF) has expressed disappointment...

India's 2018-19 forward cotton export contract up by 100%

Textiles | On 20th Sep 2018

India's 2018-19 forward cotton export contract up by 100%

Rise in demand from China, lower domestic prices and depreciation of...

India’s CAIT demands early introduction of e-com policy

Apparel/Garments | On 20th Sep 2018

India’s CAIT demands early introduction of e-com policy

The Confederation of All India Traders (CAIT) recently urged commerce ...

Interviews View All

Anshul Sood, Oceedee

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Sunil Rathore, Lacoste India

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Nishank Patel, Shri Dinesh Mills Limited

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Sandip Bhojani, Manthan Patel,

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Paolo Crespi,

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search