* December Sales Up 34.3% Over December Last Year
* December Comparable Store Sales Increase 16.4%
FORT MYERS, Fla., Jan. 5 /PRNewswire-FirstCall/ -- Chico's FAS, Inc.
(NYSE: CHS) today reported December sales results for the five-week period
ended December 31, 2005, increased 34.3% to $172.6 million from $128.5 million
reported for the prior year's five-week period ended January 1, 2005.
Comparable store sales for the Company-owned stores increased 16.4% for the
five-week period ended December 31, 2005, compared to the same five-week
period last year.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030428/CHICOLOGO )
For the forty-eight weeks ended December 31, 2005, total sales increased
31.5% to $1.313 billion from $999 million for the same period a year ago.
Comparable store sales for the Company-owned stores increased 14.3% for the
forty-eight week period compared to the same forty-eight week period last
year.
Scott A. Edmonds, President and CEO, commented, "We are pleased to report,
particularly in an increasingly competitive marketplace, our 106th consecutive
month of positive same store sales, as well as our 9th consecutive month of
double digit positive same store sales. This includes a low double digit
increase from the Chico's brand and an increase in the high 40's from the
White House | Black Market brand. We are also quite pleased with the overall
34.3% increase in sales for the Company as a whole. As we previously
indicated on our third quarter earnings call, we anticipate that our gross
margins for the fourth quarter will likely be up to a half of a point below
the gross margins experienced in last year's fourth quarter. In addition,
although we still expect to see some leverage in our selling, general and
administrative expenses over last year's fourth quarter, we now project this
leverage to be somewhat less than we anticipated (primarily because of
increased marketing expenses), with such leverage for the quarter being more
in the range of 50 to 100 basis points. Though too early to assess with any
certainty the impact that January's performance will have on the quarter, we
currently anticipate our earnings per share for the fourth quarter to show an
increase of at least 30% over last year's fourth quarter and to be in the
range of $.24 to $.25 cents per share."
The Company is a specialty retailer of private label, sophisticated,
casual-to-dressy clothing, intimates, complementary accessories, and other
non-clothing gift items. The Company operates 763 women's specialty stores,
including stores in 47 states, the District of Columbia, the U.S. Virgin
Islands and Puerto Rico operating under the Chico's, White House | Black
Market and Soma by Chico's names. The Company owns 499 Chico's front-line
stores, 31 Chico's outlet stores, 196 White House | Black Market front-line
stores, 8 White House | Black Market outlet stores and 15 Soma by Chico's
stores; franchisees own and operate 14 Chico's stores.
Certain statements contained herein, including without limitation,
statements addressing the beliefs, plans, objectives, estimates or
expectations of the Company or future results or events constitute "forward-
looking statements" within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended. Such forward-looking statements involve known
or unknown risks, including, but not limited to, general economic and business
conditions, and conditions in the specialty retail industry. There can be no
assurance that the actual future results, performance, or achievements
expressed or implied by such forward-looking statements will occur. Users of
forward-looking statements are encouraged to review the Company's latest
annual report on Form 10-K, its filings on Form 10-Q, management's discussion
and analysis in the Company's latest annual report to stockholders, the
Company's filings on Form 8-K, and other federal securities law filings for a
description of other important factors that may affect the Company's business,
results of operations and financial condition. The Company does not undertake
to publicly update or revise its forward-looking statements even if experience
or future changes make it clear that projected results expressed or implied in
such statements will not be realized.
For more detailed information, please call (877) 424-4267 to listen to the
Company's monthly sales information and investor relations line
A copy of a slide show addressing the Company's recent financial results and
current plans for expansion is available on the Company's website at
http://www.chicos.com in the investor relations section
Additional investor information on Chico's FAS, Inc. is available free of
charge on the Company's website at http://www.chicos.com in the investor
relations section
Executive Contacts:
Charles J. Kleman F. Michael Smith
Chief Financial Officer Vice President
Chico's FAS, Inc. Investor and Community Relations
(239) 274-4105 Chico's FAS, Inc.
(239) 274-4797
SOURCE Chico's FAS, Inc.
-0- 01/05/2006
/CONTACT: Charles J. Kleman, Chief Financial Officer, +1-239-274-4105, or
F. Michael Smith, Vice President, Investor and Community Relations,
+1-239-274-4797, both of Chico's FAS, Inc./
/Photo: http://www.newscom.com/cgi-bin/prnh/20030428/CHICOLOGO /
/Web site: http://www.chicos.com /
(CHS)
CO: Chico's FAS, Inc.
ST: Florida
IN: REA
SU: SLS
KC
-- NYTH047 --
4041 01/05/2006 07:15 EST http://www.prnewswire.com