Chico's FAS Turns To Profit In Q3 - Quick Facts

(RTTNews) - Specialty apparel retailer Chico's FAS, Inc. (CHS) reported net income of $26.5 million, or $0.17 per share for the fiscal 2014 third quarter, versus a loss of $28.5 million, or $0.18 per share, last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.17 per share for the quarter. Analysts' estimates typically exclude special items.

For the third quarter, total net sales were $665.6 million, up 1.5%, compared with $655.6 million in last year's third quarter, mainly reflecting 87 net new stores for a square footage increase of 5.4%, partially offset by a 1.6% decrease in comparable sales. The 1.6% drop in comparable sales for the third quarter was following a 1.4% decline in last year's third quarter, and reflected a decrease in average dollar sale partially offset by an increase in transaction count, the company noted. Wall Street expected revenues of $673.41 million.