Chico's FAS Q1 Earnings Top Estimates, Lifts FY22 Outlook

  • Chico's FAS Inc CHS reported first-quarter FY22 sales growth of 39.4% year-on-year to $540.92 million, beating the consensus of $490.10 million.
  • The comparable sales increased 41% versus last year, surpassing 2019 levels by 11%.
  • The gross margin for the quarter expanded 730 basis points Y/Y to 40%. The operating margin was 8.4%, and operating income for the quarter was $45.4 million.
  • Adjusted EPS of $0.28 beat the analyst consensus of $0.09.
  • The company held $104.1 million in cash and equivalents as of April 30, 2022.
  • At Q1 end, inventories totaled $325.6 million versus $209.7 million at the end of last year's Q1.
  • Outlook: Chico's FAS sees Q2 sales of $535 million - $550 million (consensus $534 million) and EPS of $0.21- $0.26 (consensus $0.19).
  • Chico's FAS anticipated FY22 EPS of $0.64 - $0.74 (prior view $0.40 - $0.50) versus the estimate of $0.46. It sees FY22 sales of $2.13 billion - $2.16 billion (prior view $2.085 billion - $2.115 billion), above the Street view of $2.09 billion.
  • Price Action: CHS shares are trading higher by 3.70% at $5.05 in premarket on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: EarningsNewsPenny StocksGuidanceSmall CapBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!