Chico's FAS Q2 Adj. EPS Tops View - Quick Facts

(RTTNews) - Chico's FAS, Inc. (CHS) reported second-quarter net income of $2.1 million, or $0.02 per share, compared to $30.1 million, or $0.20 per share in the prior year.

The company reported adjusted net income of $35.5 million, or $0.25 per share, compared to net income of $30.1 million, or $0.20 per share in the year-ago period. On average, 22 analysts polled by Thomson Reuters expected the company to report profit per share of $0.22 for the quarter. Analysts' estimates typically exclude special items.

Net sales for the latest second quarter increased 1.4% to $680.35 million from $671.13 million in the comparable quarter last year, primarily reflecting 23 net new stores for a square footage increase of 1.3% and a 0.5% increase in comparable sales. The company said the 0.5% increase in comparable sales was on top of a 0.3% increase in last year's second quarter, and reflected an increase in average dollar sale partially offset by a decrease in transaction count. Analysts expected revenue of $675.56 million for the quarter.