Chico's net earnings jump 32.3% to a record $47mn for Q1

27 May '05

2 min read

leading specialty clothing & accessories chico's fas inc announced financial results for the first quarter ended april 30, 2005.

• revenues rose 27.4% to a record $327 million
• net income climbed 32.3% to a record $47 million
• may comparable store sales currently strong in the low double-digit range, with chico's in the low double-digit range and wh|bm exceeding 30%

net sales for the first quarter ended april 30, 2005, increased 27.4% to a record $327 million from $257 million for the first quarter ended may 1, 2004. net income rose 32.3% to $47 million, or $0.26 a diluted share, compared to net income of $36 million, or $0.20 a diluted share (as adjusted for the 2 for 1 stock split in february 2005) in the prior year's first quarter. comparable store sales for the company-owned stores increased 10.8% for the thirteen-week period ended april 30, 2005 compared to the same thirteen-week period last year.

scott a. edmonds, president and ceo, commented, “the chico's and white house | black market brands continue to produce solid same store and overall sales increases resulting in a first quarter net income increase of 32.3% to $47 million, or $0.26 a diluted share. we are quite pleased with each brand's momentum as we enter the second quarter, with both brands same store sales increases currently at the double-digit level. we remain confident in our ability to provide long-term value to our shareholders.”

the company is a specialty retailer of private label, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items.

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