Chico's FAS, Inc. (CHS) swung to a net loss for the quarter ended Oct. 31, 2015. The company has made a net loss of $11.61 million, or $ 0.09 a share in the quarter, against a net profit of $26.46 million, or $0.17 a share in the last year period. On the other hand, adjusted net income for the quarter stood at $17.70 million, or $0.13 a share compared with $28.91 million or $0.19 a share, a year ago. Revenue during the quarter dropped 3.66 percent to $641.22 million from $665.57 million in the previous year period. Operating margin for the quarter stood at negative 4.01 percent as compared to a positive 6.34 percent for the previous year period.
Operating loss for the quarter was $25.74 million, compared with an operating income of $42.22 million in the previous year period.
Operating cash flow drops significantly
Chico's FAS, Inc. has generated cash of $130.06 million from operating activities during the nine month period, down 28.18 percent or $51.03 million, when compared with the last year period. Cash flow from investing activities was $12.64 million for the nine month period as against cash outgo of $106.16 million in the last year period.
The company has spent $184.88 million cash to carry out financing activities during the nine month period as against cash outgo of $44.32 million in the last year period.
Cash and cash equivalents stood at $91.26 million as on Oct. 31, 2015, up 35.85 percent or $24.08 million from $67.17 million on Nov. 01, 2014.
Working capital increases
Chico's FAS, Inc. has recorded an increase in the working capital over the last year. It stood at $241.09 million as at Oct. 31, 2015, up 5.33 percent or $12.19 million from $228.90 million on Nov. 01, 2014. Current ratio was at 1.79 as on Oct. 31, 2015, up from 1.74 on Nov. 01, 2014.
Days inventory outstanding has decreased to 42 days for the quarter compared with 80 days for the previous year period. At the same time, days payable outstanding went down to 23 days for the quarter from 48 for the same period last year.
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