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- Chico's FAS Inc (NYSE:CHS) reported second-quarter FY22 sales growth of 18.4% year-on-year to $558.72 million, beating the consensus of $543.90 million.
- Comparable sales increased 19.5% versus last year, driven by an increase in transaction count and higher average dollar sale.
- The gross margin for the quarter expanded 300 basis points Y/Y to 41.4%. The operating margin expanded Y/Y from 7.5% to 10.4%, and operating income for the quarter rose 63% to $58 million.
- EPS of $0.34 beat the analyst consensus of $0.25.
- The company held $172.5 million in cash and equivalents as of July 30, 2022.
- At Q2 end, inventories totaled $338.8 million versus $202.1 million at the end of last year's Q2.
- Outlook: Chico's FAS sees Q3 sales of $495 million - $510 million (consensus $508.3 million) and EPS of $0.11- $0.14 (consensus $0.11).
- Chico's FAS anticipates FY22 EPS of $0.79 - $0.87 (prior view $0.64 - $0.74) versus the estimate of $0.71. It sees FY22 sales of $2.14 billion - $2.17 billion (prior view $2.13 billion - $2.16 billion), against the Street view of $2.15 billion.
- Price Action: CHS shares are trading lower by 9.44% at $5.80 on the last check Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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