Chico’s Doubles Profit in 1st Quarter

Fort Myers, FL–Chico’s FAS has more than doubled its net income for the first quarter of the year, thanks in part to recovery of its Chico’s and Soma Intimates brands’ performances.

Chico’s announced net income of $35.4 million for the first quarter, compared to $14.5 million for last year’s period, which included non-cash impairment charges totaling approximately $5.1 million. Net sales increased from $410.6 million in last year’s first quarter to $481.6 million this time, and same-store sales increased 14.9% for the quarter.

The Chico’s/Soma Intimates brands’ same-store sales increased 14.8% compared to a 6.0% decrease for the like period last year, the company said. Chico’s gross margin increased from $233.4 million in last year’s first quarter to $281.6m in the current quarter.

Selling, general and administrative expenses increased from $211.6 million in last year’s first quarter to $226.5 million in the current quarter.

Chico’s, which also operates the White House|Black Market and Soma Intimates chains, was hit by the recession as it undertook a restructuring designed to reverse a long sales decline. Analysts say the chains added more fashionable merchandise in their mix that attracts consumers age 40 and above. The revamp, along with fewer discount offers and initial price mark-ups, have recently helped the company’s top line.

For commercial purposes, extract supplements can be obtained from the fruit of the pericarp. Garcinia cambogia reviews is performed by a physician Chen and Oz to prove that it is an herb for weight loss, a lot of research has been done. Studies, Garcinia cambogia extract supplementation decreases the weight of the body fat accumulation, was shown to have a positive effect on prevention. We are important substances such as cholesterol (LDL), reduces the serum leptin and triglycerides. In addition, it will increase the level of serotonin and cholesterol (HDL). The study also, Garcinia cambogia extract supplements, has proven that there are no significant adverse effects on many of the eight weeks, such as its use.

Like this? Share it!