chico's fas inc (CHS) Key Developments
Chico's FAS Inc.(NYSE:CHS) added to Russell 2000 Index
Jun 30 15
Chico's FAS Inc. will be added to Russell 2000 Index
Chico's FAS Inc.(NYSE:CHS) dropped from Russell 1000 Index
Jun 29 15
Chico's FAS Inc. will be removed from Russell 1000.
Chico's FAS Inc. Declares Quarterly Cash Dividend, Payable on September 28, 2015
Jun 26 15
Chico's FAS Inc. announced that its board of directors declared a quarterly cash dividend of $0.0775 per share of its common stock, a 3.3% increase over the dividend rate from September 2014. The dividend is payable on September 28, 2015 to Chico's FAS shareholders of record at the close of business on September 14, 2015.
Chico's FAS Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended May 2, 2015; Provides Capital Expenditure Guidance for the Year 2015; Plans to Open 40 New Stores in Fiscal Year 2015; Plans to Close Approximately 45 to 50 Stores in Fiscal Year 2015
May 27 15
Chico's FAS Inc. reported unaudited consolidated earnings results for the first quarter ended May 2, 2015. For the quarter, the company reported net sales of $693.3 million, an increase of 1.7% compared to $681.6 million in last year's first quarter, primarily reflecting 56 net new stores for a square footage increase of 3.3%, partially offset by a 0.1% decrease in comparable sales. Income from operations was $52.678 million against $63.842 million a year ago. Income before income taxes was $52.225 million against $63.882 million a year ago. Net income was $32.525 million or $0.22 per basic and diluted share against $39.882 million or $0.26 per basic and diluted share a year ago. Net cash provided by operating activities was $41.739 million against $67.468 million a year ago. Purchases of property and equipment, net were $19.839 million against $34.506 million a year ago. Non-GAAP net income was $41.789 million or $0.28 per diluted share against $39.882 million or $0.26 per diluted share a year ago.
The company continues to expect capital expenditures of approximately $100 million in fiscal 2015, which includes $30 million from the POS rollout. The company would expect spreads between overall sales and comparable sales growth of 1% to 2%.
The company expected approximately 40 new stores in fiscal 2015 and the return to targeted level of incentive compensation.
The company is expecting to close approximately 45 to 50 stores in 2015 versus the 35 that the company discussed with last quarter. The company anticipates that the closure of the additional stores over the 3 years will yield an incremental $10 million in expense savings and bring overall expected savings to $65 million upon completion.
David F. Dyer to Retire as President and CEO of Chico's FAS Inc. in the Spring of 2016
May 21 15
Chico's FAS Inc. announced that David F. Dyer has informed the Board of Directors of his intention to retire as President and CEO after the conclusion of the 2015 fiscal year, in the spring of 2016. To ensure an orderly transition, he will continue in his present role until a successor is appointed. After a successor is named, Mr. Dyer will remain on the Board in the newly-created role of Vice Chairman through his current term, which ends at the company's Annual Meeting of shareholders in June 2016. The Board of Directors has established a Succession Planning committee to identify Mr. Dyer's successor and has retained Herbert Mines Associates to assist in the process.