Chico's FAS Inc. Presents at 2015 Wells Fargo Atlanta Retail Round-Up, Mar-18-2015
Mar 6 15
Chico's FAS Inc. Presents at 2015 Wells Fargo Atlanta Retail Round-Up, Mar-18-2015 . Venue: The Four Seasons, 75 Fourteenth St. NE, Atlanta, GA 30309, United States. Speakers: David Slater, Vice President of Investor Relations, Todd E. Vogensen, Chief Financial Officer and Senior Vice President of Finance.
Chico's FAS Inc. and its Wholly Owned Subsidiaries Enters into the Third Amendment to Revolving Credit Facility
Mar 3 15
On Feb. 25, 2015, Chico's FAS Inc. and its wholly owned subsidiaries entered into the third amendment (the amendment) of its revolving credit facility agreement dated as of July 27, 2011. The amendment expands the commitment under the revolving credit facility from $70 million to $125 million and increases the maximum total debt leverage ratio to 3.50 to 1.00.
Chico's FAS Inc. Announces Resignation of Kent A. Kleeberger, Executive Vice President and Chief Operating Officer, Effective March 25
Feb 27 15
Chico's FAS Inc. announced the departure of Kent A. Kleeberger, who it said is resigning as the company’s executive vice president and chief operating officer, effective March 25.
Chico's Plans to Increase the Rate of Its Domestic Store Closures and Elimination of 240 Existing Jobs
Feb 26 15
Chico's plans to increase the rate of its domestic store closures in an effort 'to improve the overall productivity of its store fleet'. It expects to close approximately 120 stores starting in fiscal 2015 through 2017, a move expected to result in expense savings of approximately $55.2 million upon completion. In fiscal 2015, the company plans to close approximately 35 stores. The restructuring plan announced on February 26, 2015 also includes the elimination of approximately 240 existing jobs, expected to result in approximately $38 million of annualized savings.
Chico's FAS Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended January 31, 2015; Provides Earnings Guidance for Fiscal of 2015; Announces Goodwill and Trade Name Impairment Charges for the Fourth Quarter Ended January 31, 2015
Feb 26 15
Chico's FAS Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended January 31, 2015. For the year, the company reported total net sales of $2,675,211,000 against $2,586,037,000 a year ago. Income from operations was $116,343,000 against $141,183,000 a year ago. Income before income taxes was $116,441,000 against $141,683,000 a year ago. Net income was $64,641,000 against $65,883,000 a year ago. Diluted net income per common and common equivalent share was $0.42 against $0.41 a year ago. Net cash provided by operating activities was $282,483,000 against $236,682,000 a year ago. Purchases of property and equipment, net was $119,817,000 against $138,510,000 a year ago. Non-GAAP net income was $103,969,000 against $136,959,000 a year ago. Non-GAAP net income per diluted share was $0.68 against $0.85 a year ago.
For the quarter, the company reported total net sales of $656,907,000 against $610,233,000 a year ago. Loss from operations was $36,453,000 against income from operations of $7,257,000 a year ago. Loss before income taxes was $36,430,000 against income before income taxes of $7,352,000 a year ago. Net loss was $31,830,000 against $348,000 a year ago. Diluted net loss per common and common equivalent share was $0.21 against $0.00 a year ago. Non-GAAP net income was $7,498,000 against $5,885,000 a year ago. Non-GAAP net income per diluted share was $0.05 against $0.04 a year ago. Capital expenditures totaled $21.7 million in the fourth quarter, primarily for new stores and strategic initiatives.
For the quarter, the company reported goodwill and trade name impairment charges of $30,100,000.
For the full year of fiscal 2015, the company is anticipating a positive, low-single digit comparable sales increase. The company expects improvement in gross margin rate in 2015 compared to the prior year. The company expects capital expenditures of approximately $100 million in fiscal 2015. The company would expect the spread between overall sales and comparable sales growth to be between 2% to 3%.