Chico’s FAS Inc. reported net income above Wall Street’s expectations for the fourth quarter. Chico’s FAS is a national specialty retailer of private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items.
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Chico’s FAS Earnings Cheat Sheet for the Fourth Quarter
Results: Net income for Chico’s FAS Inc. rose to $25.1 million (15 cents per share) vs. $20.7 million (12 cents per share) in the same quarter a year earlier. This marks a rise of 21.3% from the year-earlier quarter.
Revenue: Rose 19.8% to $569.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Chico’s FAS Inc. beat the mean analyst estimate of 11 cents per share. It beat the average revenue estimate of $547.5 million.
Key Stats:
Gross margin shrank 0.9 percentage point to 52.3%. The contraction appeared to be driven by increased costs, which rose 22.1% from the year earlier quarter while revenue rose 19.8%.
Revenue has risen for the last four quarters. Revenue increased 11.5% to $538.5 million in the third quarter. The figure rose 18.5% in the second quarter from the year earlier and climbed 11.5% in the first quarter from the year-ago quarter.
The company topped expectations last quarter after falling short of forecasts in the third quarter with net income of 18 cents versus a mean estimate of net income of 20 cents per share.
Net income has increased 20.7% year-over-year on average across the last five quarters. The biggest gain came in the second quarter, when income climbed 42.5% from the year-earlier quarter.
Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved down from 31 cents a share to 29 cents over the last ninety days. At 80 cents per share, the average estimate for the fiscal year has fallen from 88 cents ninety days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
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