Net Income Up 23% in Second Quarter at Chico’s

Women’s apparel merchant Chico’s FAS enjoyed its second quarter as its net income soared 23%, to $53.4 million.

Follow US!

@MCMerchant
Multichannel Merchant
Multichannel Merchant
Multichannel Merchant
O+F Operations and Fulfillment

For Chico’s, its net income for the second quarter ended July 28, 2012 was $10 million more than the same period last year.

Net sales rose 16.4%, to $641.7 million, up from $551.4 million. Same-store sales increased 5.6%.

For the 26 weeks ended July 28, 2012, Chico’s reported net income of $107.0 million, reflecting an increase of 20% compared to net income of $89.3 million in the same period last year.

Company officials forecast net sales for fiscal 2012 to be between $2.55 billion and $2.6 billion.

Abe Garver, principal at Focus Investment Banking, said “double-digit revenue growth for the fifth quarter in a row impressed me.

Jim Tierney (jim.tierney@penton.com) is a senior writer for Multichannel Merchant. You can connect with him on Twitter (TierneyMCM) and LinkedIn, or call him at 203-358-4265.

Partner Content

The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
Strategies for Maximizing Mobile Point-of-Sale Technology - NetSuite
Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.