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Chico’s (CHS) 1Q17 Results: Comps Disappoint

Executive Summary

  • Chico’s FAS reported 1Q17 EPS of $0.26 versus the consensus estimate of $0.29.
  • Total revenues were $583.7 million, below expectations of $624.8 million and down 9.2% year over year. The decline in sales was driven by a lower average dollar sale and a lower transaction count.
  • Management adjusted its FY17 outlook based on the first-quarter results. Comps for the full year are now expected to decline by mid-single digits versus prior guidance for a low-single-digit decline and consensus of a 1.7% decline.

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