Chico's FAS Q3 Profit Beats Estimates; Comps. Up 28% - Quick Facts

(RTTNews) - Chico's FAS, Inc. (CHS) said its quarterly earnings represent the best third quarter performance since 2016. Comparable sales growth of 28% was driven by outperformance in store and digital sales channels, the company noted. Comparable sales at Chico's increased 23.3%.

For the third quarter, net income was $18.2 million, or $0.15 per share, compared to a net loss of $55.9 million, or $0.48 per share, a year ago. Excluding legal settlement charges, adjusted net income was $22.1 million, or $0.18 per share, for the quarter.

Analysts polled by Thomson Reuters expected the company to report a loss per share of $0.02, for the quarter. Analysts' estimates typically exclude special items.

Net sales were $453.6 million compared to $351.4 million, prior year. Analysts on average had estimated $426.1 million in revenue.

For the fourth quarter, the company currently expects: consolidated net sales of $495 million to $510 million; and earnings per share of $0.00 to $0.05.