Chico's FAS (CHS) reported earnings on Wed 28 Feb 2018 (b/o)
** charts after earnings **
Chico's FAS beats by $0.05, beats on revs
- Reports Q4 (Jan) earnings of $0.14 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus of $0.09; revenues fell 2.2% year/year to $587.78 mln vs the $579.75 mln Capital IQ Consensus.
- Reports a SSS decline of 5.2% compared to expectations of a 5-7% decline.
- 2018 Full-Year Outlook
- For fiscal 2018, the Company is anticipating a low single-digit decline in consolidated comparable sales with comparable sales performance stronger in the second half of the year compared to the first half.
- The Company expects gross margin expansion in the range of 125 to 150 basis points over fiscal 2017, driven by decreased average unit costs and planned improvement in promotions.
- The Company estimates a fiscal 2018 tax rate in the range of 26% to 28%.
- Company anticipates 2018 capital expenditures to be $70 million to $80 million, primarily driven by store reinvestments and technology enhancements.
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