- Chico's FAS Inc (NYSE:CHS) reported fourth-quarter FY21 sales growth of 28.5% year-on-year, to $496.26 million, missing the consensus of $498.70 million.
- Sales growth primarily reflects the decline in store sales during last year's Q4 due to the COVID-19 pandemic and higher full-price sales.
- Comparable sales increased 29.2% versus last year, with Chico's, WHBM, and Soma up 33.2%, 45.6%, and 9.5%, respectively.
- The gross margin for the quarter expanded 1550 basis points Y/Y to 34.5%. The operating margin was 3.3%, and operating income for the quarter was $16.5 million.
- EPS of $0.09 beat the consensus of $0.05.
- The company held $115.1 million in cash and equivalents as of January 29, 2022.
- At Q4 end, inventories totaled $323.4 million versus $204 million at the end of Q4 FY20 and $246.7 million at the end of Q4 FY19.
- Outlook: Chico's FAS sees Q1 sales of $485 million - $500 million and EPS of $0.07- $0.11.
- Chico's sees FY22 sales of $2.085 billion -$2.115 billion and EPS of $0.40 - $0.50.
- Price Action: CHS shares are trading higher by 0.85% at $4.74 on the last check Tuesday.
