Wednesday, August 29, 2018

Chico’s tops Street amid ongoing omnichannel initiatives

Chain Store Age
Chico’s FAS sales declined 5.9% to $544.7 million from $578.6 million, but still topped Street estimates of $541.0 million. The decline reflected the impact of 42 net store closings since the year-ago period and a calendar shift with the addition of an extra week in 2017.

Total same-store sales were down 3.2%, as a lower transaction count was partially offset by higher average dollar sales. By brand, same-store sales fell 3.8% at Chico’s, 3.5% at White House | Black Market and 0.9% at Soma.. . . more