Chico's FAS, Inc. - CHS STOCK NEWS

Chico's FAS reported a robust third quarter with earnings per diluted share of $0.15, marking its best third quarter since 2016. Sales surged 29% year-over-year to $453.6 million. The gross margin improved to 40.7%, the highest level since 2014. Comparable sales rose 28%, driven by strong performances in all brands, particularly Soma with a 30% increase. The company repaid a third of its long-term debt and ended the quarter with $137.5 million in cash and marketable securities. Looking ahead, the fourth quarter sales are expected to range between $495 million to $510 million.

Chico's FAS, Inc. (NYSE: CHS) will conduct a conference call on November 30, 2021, at 8:00 a.m. ET to discuss its operating results for Q3, ended October 30, 2021. The call can be accessed via the web and will include a replay available for one year. As of July 31, 2021, Chico's operated 1,284 U.S. stores and has a presence in Mexico with 66 international franchise locations. The company focuses on providing tailored fashion solutions, primarily for women, through its brands, including Chico's, WHBM, and Soma.

Chico's FAS (NYSE: CHS) will participate in the Wells Fargo 4th Annual Consumer Conference on September 22, 2021, at 2:00 PM PT in Dana Point, CA. Members of the management team will engage in a fireside chat, which will be webcast live. The company operates 1,284 stores in the U.S. and 66 international franchise locations.

Chico's, founded in 1983, is a leading fashion retailer with brands including Chico's, White House Black Market, and Soma. For more details, visit their website at www.chicosfas.com.

Chico's FAS, Inc. (NYSE: CHS) has appointed Patrick J. Guido as Chief Financial Officer, effective September 20, 2021. Guido brings over 20 years of experience from retail and consumer sectors, having previously served as CFO at Asbury Automotive Group and lululemon athletica, where he contributed to significant revenue growth. His appointment seeks to further strengthen the company's financial performance and guide it towards sustainable growth. Also, David Oliver returns to his previous role as Senior Vice President Finance - Controller.

Chico's FAS reported strong financial results for Q2 2021, marking its best second quarter since 2013. The company achieved a net income of $26.2 million ($0.21 per diluted share), rebounding from a $46.8 million loss in Q2 2020. Sales surged 54.2% year-over-year to $472.1 million, driven by solid performances from all three brands, particularly Soma, which saw a 53% sales growth. Gross margins improved to 38.4%, while SG&A expenses decreased to 30.9% of net sales. However, the company anticipates challenges ahead due to supply chain issues and economic uncertainty stemming from the pandemic.

Chico's FAS, Inc., a leader in North American fashion, launches the Women: Power In The Numbers campaign on August 26, 2021, coinciding with Women's Equality Day. This initiative underscores the company's dedication to enhancing female leadership and work-life balance through various benefits. Notably, 96% of its associates and 92% of its management are female. The campaign will feature diverse women from the company, promoting both empowerment and workplace equality.

Chico's FAS' intimates brand, Soma®, has launched the Enbliss Luxe collection featuring two new styles, the Wireless J-Hook and the Adjustable Bralette. These additions enhance comfort and versatility, aimed at meeting evolving customer needs. The Wireless J-Hook is available in 26 sizes and retails for $54-$56, while the Adjustable Bralette comes in sizes S-XXL and retails for $46-$48. Soma continues to outperform the intimates industry in wireless bra growth, boasting a 92% customer recommendation rate for its original Enbliss Wireless style.

Chico's FAS, Inc. (NYSE: CHS) will conduct a conference call on August 31, 2021, at 8:00 a.m. ET, to discuss its second-quarter operating results for the period ending July 31, 2021. The call will be accessible via the Company's website, with a replay available for one year. Chico's operates 1,293 U.S. stores and has 66 international franchise locations. The company focuses on serving women through its unique brands and fashion offerings, emphasizing customer experience in both physical and digital retail environments.

Chico's FAS (NYSE: CHS) has appointed Nancy Johnson as SVP, GMM Merchandising and Design for the Chico's brand, and Dimple Rao as VP, Product Management. Johnson, with over 30 years of experience from Macy's, will focus on product strategy and design. Rao brings 15 years of expertise in customer experience from SPINS. Both leaders aim to enhance customer engagement and brand strength. Recently, Chico's FAS was recognized by Forbes as one of America's Best Employers for Diversity 2021.