Newspaper that inspires change. Breaking stories that shake the world. Be informed, Don't Settle for Fake News.

Get In Touch

7939 NW 21st St
Miami, Florida

feat shape 1
feat shape 2
feat shape 3

"Chico's Reports Strong Q2 Performance and Expects Further Growth"

Chico's FAS, a women's retailer based in Fort Myers, reported a strong second quarter with profits rising to $59.3m.

Fort Myers-based women's retailer Chico's FAS has reported strong second-quarter results, with profits rising to $59.3 million, or 49 cents a share, compared to $42 million, or 34 cents a share, the previous year. Excluding one-time items, the company's results came in at $33.7 million, or 28 cents a share. Sales for the quarter totaled $545 million, in line with expectations but 2.4% lower than the previous year. Despite missing on revenue, the company saw strength across its three brands: Chico's, White House Black Market, and Soma. Chico's and White House Black Market continued to gain market share, while Soma outpaced the market among older adults with household incomes over $100,000. The company's CEO and president, Molly Langenstein, expressed confidence in achieving long-term financial targets and increasing shareholder value. The retailer also announced a new share repurchase program for up to $100 million of its common stock. Looking ahead, Chico's FAS expects improving trends in the second half of the year as customers respond to fresh fall assortments.

Share With Others

Comments on "Chico's Reports Strong Q2 Performance and Expects Further Growth"