Chico's FAS Q1 Profit Matches Estimates; Comps. Down 0.1% - Quick Facts

(RTTNews) - Chico's FAS, Inc. (CHS) reported first quarter net income of $32.5 million, or $0.22 per share, including the impact of the strategic charges related to restructuring. The company reported adjusted net income of $41.8 million or $0.28 per share compared to net income of $39.9 million or $0.26 per share, prior year.

On average, 22 analysts polled by Thomson Reuters expected the company to report profit per share of $0.28 for the quarter. Analysts' estimates typically exclude special items. Net sales were $693.3 million, an increase of 1.7% compared to $681.6 million in last year's first quarter, primarily reflecting 56 net new stores for a square footage increase of 3.3%, partially offset by a 0.1% decrease in comparable sales. The company said the decrease in comparable sales reflected approximately flat average dollar sale and transaction count. Analysts expected revenue of $712.93 million for the quarter.