Chico's FAS Q4 Profit Down, Comps Rise; Issues Q1, FY23 View

(RTTNews) - Fashion retailer Chico's Fas Inc. (CHS) on Tuesday reported that its fourth-quarter net income was $7.49 million or $0.06 per share, down from last year's $10.73 million or $0.09 per share.

For the quarter, net sales were $524.05 million, 5.6 percent higher than prior year's $496.26 million, primarily reflecting a comparable sales increase of 6.1 percent.

Further, Chico's FAS provided fiscal 2023 first quarter and full year outlook.

For the first quarter, the company expects earnings per share of $0.26 to $0.30 and consolidated net sales of $535 million to $550 million.

For the fiscal 2023, Chico's FAS currently expects earnings per share of $0.79 to $0.91, and consolidated net sales of $2.22 billion to $2.25 billion.

In fiscal 2022, the company's earnings were $109.0 million or $0.88 per share, on net sales of $2.14 billion.

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