Executive Summary

• Chico’s FAS reported 2Q18 EPS of $0.13, beating the consensus estimate by a penny. Revenues were $544.72 million, down by 5.9% year over year and beating the consensus estimate of $541.0 million.
• Comps were down3.2%, beating the consensus estimate of down 4.5%.
• For 3Q, the company expects sales and comps to decline in the mid-single digits and for the full year, the company reaffirmed its guidance of a mid-single decline in net sales and a low-to-mid single digit decline in comps.