Monday, December 2, 2019

Chico’s swings to loss but Soma maintains momentum

Chain Store Age
Chico’s FAS saw top- and bottom-line losses in its third quarter but still managed to beat Street estimates.

Net sales fell to $484.7 million from nearly $500 million last year. Analysts had expected revenue of $473.2 million.

Total same-store sales were down 2.2%. By brand, same-store sales fell 3.6% at Chico’s and 5.7% at White House | Black Market. But same-store sales jumped 11.3% at the company’s intimates brand, Soma, on top of 10.9% growth last quarter. It was Soma’s fifth consecutive quarter of growth.. . . more