Chico's FAS Q2 Profit Down; EPS Misses Estimates, But Revenues Top - Quick Facts

(RTTNews) - Specialty apparel retailer Chico's FAS Inc. (CHS) reported that its net income for the second quarter ended August 2, 2014 declined to $30.1 million from last year's $43.6 million, with earnings per share decreasing to $0.20 from $0.27 in last year's second quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales were $671.1 million, an increase of 3.3% compared to $649.5 million in last year's second quarter, primarily reflecting 98 net new stores for a square footage increase of 6.4% and comparable sales growth of 0.3%, partially offset by a $4.4 million decrease in Boston Proper net sales. Wall Street expected revenues of $678.57 million.

The 0.3% increase in comparable sales for the second quarter was following a 2.6% decrease in last year's second quarter, and reflected an increase in transaction count partially offset by a decrease in average dollar sale.