Chico's FAS, Inc. (NYSE:CHS) saw its stock inch up in early Wednesday trading, on the release the fiscal 2019 second-quarter results.
The Fort Myers, Fla.-based company reported a net loss of $2.3 million, or $0.02 loss per diluted share, compared to net income of $16.8 million, or $0.13 earnings per diluted share, for the thirteen weeks ended August 4, 2018.
CHS reported second-quarter adjusted net loss of $0.2 million, or $0.00 earnings per diluted share, as presented in the related accompanying GAAP to non-GAAP reconciliation.
For the second quarter, net sales were $508.4 million compared to $544.7 million in last year's second quarter. This decrease of 6.7% reflects a comparable sales decline of 6.1% as well as the impact of 53 net store closures since last year's second quarter. The comparable sales decline was driven by lower average dollar sale and a decrease in transaction count.
CEO Bonnie Brooks commented, "We are seeing evidence of progress within our business and reported second quarter results in line with our expectations. This performance was driven by sequential improvement at Chico's and continued strong comparable sales growth at Soma of 10.9% in the second quarter.
"At White House Black Market, the changes we made in product, marketing and in-store presentation are driving improved sales trends in August compared to our second quarter results. We expect these improvements to continue benefiting the brand throughout the fall and holiday seasons."
Shares gathered five cents to $2.57
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