Chico's FAS Q1 Results Miss Estimates; Trims FY23 Outlook; Stock Down 8%
(RTTNews) - Fashion retailer Chico's Fas Inc. (CHS) on Tuesday reported net income for the first quarter of $39.91 million or $0.32 per share, higher than $34.93 million or $0.28 per share in the year-ago quarter.
Total net sales for the quarter decreased 1.1 percent to $534.74 million from $540.92 million in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report loss of $0.27 per share on revenues of $541.95 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to the first quarter, the company expects earnings in a range of $0.25 to $0.30 per share on consolidated net sales between $545 million and $565 million. Analysts expect earnings of $0.30 per share on net sales of $573.2 million for the quarter.
For fiscal 2023, the company now projects earnings in a range of $0.70 to $0.82 per share on consolidated net sales between $2.175 billion and $2.205 billion.
Previously, the company expected earnings in the range of $0.79 to $0.91 per share on consolidated net sales between $2.22 billion and $2.25 billion.
The Street is looking for earnings of $0.83 per share on net sales of $2.22 billion for the year
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Abercrombie & Fitch, Dollar Tree, Chico's Fas Q3 Results Top Estimates
Chico's FAS Q3 Net Profit Increases; Boosts FY22 Outlook
Chico's FAS Boosts FY22 Outlook As Q2 Results Top Estimates
Lower Open Anticipated For Hong Kong Shares
China Stock Market May Hand Back Wednesday's Gains
Japan Manufacturing PMI Improves Top 49.9 - Jibun
Soft Start Predicted For Taiwan Stock Market
