Chico’s FAS Registers $46.8 Million Loss in Most Recent Quarter

Chico’s FAS continues to register losses.  ” data-reactid=”19″>Chico’s FAS continues to register losses.  

TellTale brands —  reported quarterly earnings Wednesday before the market opened, falling short on both top and bottom lines, with a $46.8 million loss for the three-month period ending Aug. 1. That’s on top of the $178 million loss the prior quarter thanks to the coronavirus shutdown. ” data-reactid=”20″>The Fort Myers, Fla.-based retailer —  parent company to the Chico’s, White House Black Market, Soma and TellTale brands —  reported quarterly earnings Wednesday before the market opened, falling short on both top and bottom lines, with a $46.8 million loss for the three-month period ending Aug. 1. That’s on top of the $178 million loss the prior quarter thanks to the coronavirus shutdown. 

which has been a standout for several quarters, fell short with $84 million in total sales, compared with $99.6 million a year ago. ” data-reactid=”30″>Total company revenues for the period were $306 million, down from $508 million the same time last year. By brand, top-line sales at Chico’s were $139 million, compared with nearly $269 million a year ago. White House Black Market’s revenues totaled $82 million, compared with about $140 million a year ago. Even intimates brand Soma, which has been a standout for several quarters, fell short with $84 million in total sales, compared with $99.6 million a year ago. 

coronavirus. Stores did not begin to reopen until late May. As of Aug. 1, 96 percent of the company’s 1,313 stores in the U.S. had reopened. Chico’s FAS also sells merchandise through 69 international franchise locations in Mexico and two domestic franchise airport locations. ” data-reactid=”32″>Like most retailers, Chico’s FAS was forced to temporarily shut down all of its brick-and-mortar locations in mid-March to prevent the spread of the coronavirus. Stores did not begin to reopen until late May. As of Aug. 1, 96 percent of the company’s 1,313 stores in the U.S. had reopened. Chico’s FAS also sells merchandise through 69 international franchise locations in Mexico and two domestic franchise airport locations. 

retail fleet and exit unprofitable stores while continuing to negotiate rent reductions and abatements with current landlords. ” data-reactid=”33″>The company said it will continue to evaluate its retail fleet and exit unprofitable stores while continuing to negotiate rent reductions and abatements with current landlords. 

Chico’s FAS Canada, a subsidiary of Chico’s FAS, filed for bankruptcy with the Ontario, Canada, office of the Superintendent in Bankruptcy, to help reduce expenses.  ” data-reactid=”34″>In July, Chico’s FAS Canada, a subsidiary of Chico’s FAS, filed for bankruptcy with the Ontario, Canada, office of the Superintendent in Bankruptcy, to help reduce expenses.  

Canada — four Chico’s and six White House Black Market locations — would close permanently. The company continues to operate its e-commerce platforms in Canada.” data-reactid=”35″>The move meant all 10 of its stores in Canada — four Chico’s and six White House Black Market locations — would close permanently. The company continues to operate its e-commerce platforms in Canada.

e-commerce businesses continued to grow. Digital sales in the apparel and intimates categories across all the three major brands increased double digits year-over-year. At Soma, digital sales surged 70 percent during the quarter, year-over-year. ” data-reactid=”36″>Meanwhile, with stores closed, the company’s e-commerce businesses continued to grow. Digital sales in the apparel and intimates categories across all the three major brands increased double digits year-over-year. At Soma, digital sales surged 70 percent during the quarter, year-over-year. 

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