Chico's FAS Inc. (CHS) Hurt By Weak Fashions
Women's clothing retailer Chico's FAS Inc. said Tuesday third-quarter earnings fell 21 percent as higher sales failed to offset increased markdowns and larger store operating costs.
Net income slid to $42.1 million, or 24 cents per share, from $53.2 million, or 29 cents per share, a year ago.
Sales grew to $403.6 million from $358.7 million last year, but sales at stores open at least a year dipped 1.2 percent.
On average, analysts surveyed by Thomson Financial were looking for profit of 23 cents per share, including 2 cents of stock-based compensation costs, on higher sales of $407.9 million.
Net income slid to $42.1 million, or 24 cents per share, from $53.2 million, or 29 cents per share, a year ago.
Sales grew to $403.6 million from $358.7 million last year, but sales at stores open at least a year dipped 1.2 percent.
On average, analysts surveyed by Thomson Financial were looking for profit of 23 cents per share, including 2 cents of stock-based compensation costs, on higher sales of $407.9 million.
Labels: Chico's FAS Inc., CHS, retailers
posted by Stock Administrator @ 5:55 PM
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