Published on 2 Dec 2023 on Zacks via Yahoo Finance

Chico's FAS (CHS) Q3 Earnings Top Estimates, Guidance Withdrawn

Chico's FAS, Inc. CHS posted third-quarter fiscal 2023 results, wherein the top line missed the Zacks Consensus Estimate while the bottom line beat the same. Both metrics declined year over year.Over the past three months, shares of this Zacks Rank #3 (Hold) company have increased 49.6% compared with the industry’s 7.7% growth.

Q3 in Detail

The company reported adjusted earnings of 11 cents per share in the fiscal third quarter, outpacing the Zacks Consensus Estimate of 10 cents. However, the figure declined 45% from 20 cents in the year-ago quarter.Revenues declined 2.5% year over year to $505.1 million in the quarter. The metric fell short of the Zacks Consensus Estimate of $513 million. The company’s comparable store sales fell 2.7%, owing to decreased transaction count, partially offset by higher average dollar sales.Brand-wise, Chico's net sales came in at $252.2 million, down 1.2% year over year. White House Black Market’s net sales declined by 6.3% to $147.5 million. Soma’s net sales came in at $105.4 million, stable year over year.