Chico's FAS CHS reported second-quarter sales of $508.4 million, which missed the analyst consensus estimate of $513.34 million by 0.96%. This is a 6.67% decrease over sales of $544.72 million the same period last year. Th company reported breakeven EPS, which was in line with estimates.
"We are seeing evidence of progress within our business and reported second-quarter results in line with our expectations,” said CEO Bonnie Brooks. “This performance was driven by sequential improvement at Chico's and continued strong comparable sales growth at Soma of 10.9% in the second quarter.
"At White House Black Market, the changes we made in product, marketing and in-store presentation are driving improved sales trends in August compared to our second quarter results. We expect these improvements to continue benefiting the brand throughout the fall and holiday seasons."
Chico's FAS shares were up 1.9% at $2.57 in Wednesday’s pre-market session. The stock has a 52-week high of $9.40 and a 52-week low of $2.44.
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