Chicos FAS, Inc. (CHS) has reported an 8.16 percent rise in profit for the quarter ended Apr. 29, 2017. The company has earned $33.62 million, or $0.26 a share in the quarter, compared with $31.08 million, or $0.23 a share for the same period last year. Revenue during the quarter dropped 9.21 percent to $583.73 million from $642.98 million in the previous year period. Gross margin for the quarter contracted 13 basis points over the previous year period to 40.67 percent. Total expenses were 90.60 percent of quarterly revenues, down from 92.14 percent for the same period last year. This has led to an improvement of 154 basis points in operating margin to 9.40 percent.
Operating income for the quarter was $54.87 million, compared with $50.54 million in the previous year period.
Shelley Broader, chief executive officer and president, said, "In this challenging retail environment, we remain steadfast in executing against our strategic plan to increase profitable sales and long-term earnings. Our flexible and profitable operating model allowed us to drive improvement in our operating income rate and earnings per share compared to last year even though our comparable sales in the quarter were below our expectations."
Operating cash flow drops significantly
Chicos FAS, Inc. has generated cash of $16.69 million from operating activities during the quarter, down 49.01 percent or $ 16.04 million, when compared with the last year period. The company has spent $9.76 million cash to meet investing activities during the quarter as against cash outgo of $13.30 million in the last year period.
The company has spent $29.90 million cash to carry out financing activities during the quarter as against cash outgo of $52.85 million in the last year period.
Cash and cash equivalents stood at $119.14 million as on Apr. 29, 2017, up 110.86 percent or $62.64 million from $56.50 million on Apr. 30, 2016.
Debt comes down
Chicos FAS, Inc. has recorded a decline in total debt over the last one year. It stood at $79.80 million as on Apr. 29, 2017, down 11.07 percent or $9.93 million from $89.74 million on Apr. 30, 2016.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]