Chico’s FAS Earnings: Double-Digit Revenue Growth Continues

Chico’s FAS Inc. (NYSE:CHS) reported net income above Wall Street’s expectations for the third quarter. Chico’s FAS is a national specialty retailer of private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items.

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Chico’s FAS Inc. Earnings Cheat Sheet

Results: Net income for Chico’s FAS Inc. rose to $41.7 million (25 cents per share) vs. $26.5 million (16 cents per share) in the same quarter a year earlier. This marks a rise of 57.4% from the year-earlier quarter.

Revenue: Rose 18.2% to $636.7 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Chico’s FAS Inc. beat the mean analyst estimate of 22 cents per share. Analysts were expecting revenue of $630.6 million.

Key Stats:

The company has seen double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 17.4%, with the biggest boost coming in the first quarter when revenue rose 21.2% from the year earlier quarter.

The company has now seen its net income increase for three consecutive quarters. In the second quarter, net income rose 23.1% and in the first quarter, the figure rose 16.8%.

The company has now surpassed analyst estimates for four quarters in a row. It beat the mark by 2 cents in the second quarter, by 2 cents in the first quarter, and by 4 cents in the fourth quarter of the last fiscal year.

Looking Forward: The average estimate for the fourth quarter is steady at 19 cents a share. Over the past three months, the average estimate for the fiscal year has climbed from $1.03 per to share to $1.06.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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