Chico’s FAS sales increase amid turnaround

Fashion retailer The SAF of Chico, whose stable of brands includes Soma, WHBM and Chico’s, reported that the company’s total first-quarter sales rose about 38 percent, according to a Tuesday (June 8) ad.

The retailer reported “extraordinary sales growth” at Soma, its lingerie brand, while it posted “improved sales performance” at White House Black Market and Chico’s, according to the announcement.

“Our first quarter results underscore the significant progress we are making on our turnaround strategy, the strength of our three unique brands and being a digitally-focused, customer-driven company,” said the CEO and president of FAS de Chico. Molly langenstein said in the ad. “Our progress is measurable and the opportunities anticipated throughout the coming year will continue to drive sales growth, even deeper customer loyalty and market share gains. “

Chico’s FAS recorded $ 134.3 million in selling and administrative expenses for the first quarter, or about 35% of net sales, compared to $ 130.2 million, or about 46% of net sales, for the first quarter of last year.

The company had inventory of about $ 210 million at the end of the first quarter, down from about $ 273 million at the end of the first quarter last year.

Chico’s FAS reported net sales of $ 388 million for the first quarter, marking an improvement from $ 280.3 million in the first quarter of last year.

In addition, the company recorded a net loss of $ 8.9 million, or a loss of 8 cents per diluted share, compared to a net loss of $ 178.3 million, or a loss of $ 1.55 per share. diluted, for the first quarter of last year.

The company operated approximately 1,300 physical stores in the United States and sold merchandise at 66 international franchise stores in Mexico, in addition to two domestic franchise stores as of May 1 of this year.

In separate news, Dillard, the clothing and home furnishings retailer, said total first-quarter retail sales climbed 73% over the past year. The company operates 250 Dillard’s stores, as well as 31 clearance centers spanning 29 states and an online store at Dillard’s reported net income of $ 158.2 million and net income of $ 7.25 per share, as well as a retail gross margin of 42.7%.



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