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Chico's FAS registers record sales in July

06 Aug '05

3 min read

Chico's FAS Inc reported July sales results for the four-week period ended July 30, 2005, increased 33.5% to $94.8 million from $71.1 million reported for the prior year's four-week period ended July 31, 2004.

Comparable store sales for the Company-owned stores increased 14.0 percent for the four-week period ended July 30, 2005, compared to the same four-week period last year.

Total sales for the second quarter ended July 30, 2005 increased 34.6 percent to $343 million from $255 million for the same period a year ago. Comparable store sales for the Company-owned stores increased 15.7 percent for the thirteen-week period compared to the same thirteen-week period last year.

For the twenty-six weeks ended July 30, 2005, total sales increased 31.0 percent to $670 million from $512 million for the same period a year ago. Comparable store sales for the Company-owned stores increased 13.2 percent for the twenty-six week period compared to the same twenty-six week period last year.

Scott Edmonds, President and Chief Executive Officer, commented, “They are pleased to report our 101st consecutive month of positive same store sales, as well as another quarter with a double digit same store sales increase.

During the quarter and ended up being more promotional than we originally planned, and for this reason and others, the gross margins did not meet our expectations for the quarter. With that said, they expect to have leveraged our operating expenses nicely, and thus they anticipate their earnings per share for the second quarter to be in the range of $.26 to $.27 cents per share, consistent with street expectations.

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