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.

Posted In: BriefsEarningsNewsPenny StocksGuidanceSmall Cap

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