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Chico's FAS to close at least 250 stores in U.S.

Staff Writer |
Chico's FAS announced its financial results for the fiscal 2018 fourth quarter and fiscal year ended February 2, 2019.

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or the fourth quarter ended February 2, 2019 Chico's FAS reported a net loss of $16.6 million, or $0.14 diluted loss per share, compared to net income of $28.0 million, or $0.22 diluted earnings per share, for the fourth quarter weeks ended February 3, 2018.

Chico's FAS reported a fourth quarter adjusted net loss of $8.6 million, or $0.07 diluted loss per share, compared to adjusted net income of $14.5 million, or $0.11 diluted earnings per share, as presented in the related accompanying GAAP to non-GAAP reconciliation.

For the fifty-two weeks ended February 2, 2019 Chico's FAS reported net income of $35.6 million, or $0.28 diluted earnings per share, compared to net income of $101.0 million, or $0.79 diluted earnings per share, for the fifty-three weeks ended February 3, 2018.

Chico's FAS reported fiscal 2018 adjusted net income of $38.8 million, or $0.31 diluted earnings per share, compared to adjusted net income of $92.7 million, or $0.72 diluted earnings per share.

Chico's FAS intends to close at least 250 stores in the U.S. over the next three years as part of its efforts to better capitalize on its omnichannel platform, reduce costs, improve profitability and return on invested capital.


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