Chico's FAS Boosts FY22 Outlook As Q2 Results Top Estimates

RTTNews | 1071 days ago
Stocktwits
Chico's FAS Boosts FY22 Outlook As Q2 Results Top Estimates

(RTTNews) - Fashion retailer Chico's Fas Inc. (CHS) on Wednesday reported that net income for the second quarter surged to $41.96 million or $0.34 per share from $26.19 million or $0.21 per share in the year-ago quarter, driven by strong comparable sales growth and gross margin expansion.

Total net sales for the quarter grew 18.4 percent to $558.72 million from $472.06 million in the same quarter last year. Total Company comparable sales were up 19.5 percent.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.25 per share on net sales of $543.90 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the third quarter, the company expects earnings in a range of $0.11 to $0.14 per share on consolidated net sales between $495 million and $510 million. Analysts expect earnings of $0.11 per share on net sales of $508.30 million for the quarter.

For fiscal 2022, the company now projects earnings in a range of $0.79 to $0.87 per share on consolidated net sales between $2.14 billion and $2.17 billion.

Previously, the company expected earnings in a range of $0.64 to $0.74 per share on consolidated net sales between $2.13 billion and $2.16 billion.

The Street is looking for earnings of $0.71 per share on net sales of $2.15 billion for the year.

Tags: CHS
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Abercrombie & Fitch, Dollar Tree, Chico's Fas Q3 Results Top Estimates

Abercrombie & Fitch, Dollar Tree, Chico's Fas Q3 Results Top Estimates

U.S. retailers Abercrombie & Fitch, Dollar Tree and Chico's Fas on Tuesday reported results for the third quarter, with Abercrombie & Fitch slipping to a loss, while profit at Dollar Tree and Chico's Fas improving from last year. Both adjusted earnings per share and net sales at Abercrombie & Fitch, Dollar Tree and Chico's Fas topped analysts' estimates.
RTTNews | 988 days ago
Chico's FAS Q3 Net Profit Increases; Boosts FY22 Outlook

Chico's FAS Q3 Net Profit Increases; Boosts FY22 Outlook

Fashion retailer Chico's Fas Inc. (CHS) on Tuesday reported net income for the third quarter of $24.62 million or $0.20 per share, higher than $18.23 million or $0.15 per share in the year-ago quarter.
RTTNews | 988 days ago
Swiss Market Ends Notably Lower

Swiss Market Ends Notably Lower

Save for a few minutes about an hour after the opening bell, the Switzerland market stayed weak on Wednesday with several stocks reeling under selling pressure. Investors were cautious amid concerns about the impact of U.S. tariffs, and Donald Trump's fresh threat that his government might consider imposing tariffs on chips and pharmaceuticals.
RTTNews | 3h 3min ago
Canadian Stocks Surge Higher Again; TSX Scales New Record High

Canadian Stocks Surge Higher Again; TSX Scales New Record High

Canadian stocks are up firmly in positive territory on Wednesday, and the benchmark S&P/TSX Composite Index stays high up after hitting a fresh record. Rising optimism about a rate cut by the Federal Reserve in September, firm oil prices and some upbeat corporate earnings announcements are contributing to the positive mood in the market.
RTTNews | 4h 23min ago
India Holds Key Interest Rates Steady As Trade Tensions Escalate

India Holds Key Interest Rates Steady As Trade Tensions Escalate

The Reserve Bank of India left its key interest rates unchanged on Wednesday after an aggressive cut in June as the economy faces another threat from the US due to its Russian oil imports. The RBI Monetary Policy Committee, led by Governor Sanjay Malhotra, unanimously decided to hold the policy repo rate at 5.50 percent. The bank had reduced the rate by 50 basis points in June.
RTTNews | 6h 56min ago
Bay Street Looks Set To Extend Upmove

Bay Street Looks Set To Extend Upmove

Canadian shares look headed for a positive start on Wednesday, riding on some impressive corporate earnings updates, and higher oil prices. The focus will also be on the developments on the trade front.
RTTNews | 8h 24min ago
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