FORT MYERS, Fla., Aug. 27,
2014 /PRNewswire/ -- Chico's FAS, Inc. (NYSE: CHS) today announced
its financial results for the fiscal 2014 second quarter and
twenty-six weeks ended August 2, 2014.
For the thirteen weeks ended August 2, 2014 (the second
quarter), the Company reported net income of $30.1 million compared to net income of
$43.6 million for the thirteen weeks
ended August 3, 2013, and second quarter 2014 earnings per
diluted share of $0.20 compared to
earnings per diluted share of $0.27
in last year's second quarter.
For the twenty-six weeks ended August 2, 2014, the Company
reported net income of $70.0 million
compared to net income of $94.7
million in the same period last year, and earnings per
diluted share of $0.46 compared to
earnings per diluted share of $0.58
in the same period last year.
Net Sales
For the second quarter, net sales were $671.1 million, an increase of 3.3% compared to
$649.5 million in last year's second
quarter, primarily reflecting 98 net new stores for a square
footage increase of 6.4% and comparable sales growth of 0.3%,
partially offset by a $4.4 million
decrease in Boston Proper net sales. The 0.3% increase in
comparable sales for the second quarter was following a 2.6%
decrease in last year's second quarter, and reflected an increase
in transaction count partially offset by a decrease in average
dollar sale.
For the second quarter, the Chico's/Soma Intimates brands'
comparable sales increased 1.4% following a 3.1% decrease in last
year's second quarter. The Chico's brand experienced an increase of
slightly less than 1% in comparable sales in the second quarter
compared to a mid-single digit decrease in last year's second
quarter, and the Soma Intimates brand experienced a mid-single
digit comparable sales increase in the second quarter compared to a
high-single digit increase in last year's second quarter. The White
House | Black Market brand's comparable sales decreased 1.9%
following a 1.5% decrease in last year's second quarter.
Gross Margin
For the second quarter, gross margin was $351.5 million compared to $356.1 million in last year's second quarter.
Gross margin was 52.4% of net sales, a 240 basis point decrease
from last year's second quarter, primarily reflecting increased
promotional activity in fiscal 2014 to sell through seasonal
merchandise.
Selling, General and Administrative Expenses
For the second quarter, selling, general and administrative
expenses ("SG&A") were $304.7
million compared to $286.3
million in last year's second quarter. SG&A was 45.4% of
net sales, a 140 basis point increase from last year's second
quarter, primarily reflecting sales deleverage of store expenses,
costs to support new store growth and the impact of approximately
$5 million in incremental investment
spending on strategic initiatives.
Income Tax Provision
For the second quarter, the effective tax rate was 35.5%,
compared to an effective tax rate of 37.7% in last year's second
quarter, primarily reflecting favorable state tax settlements.
Inventories
At the end of the second quarter of 2014, total inventories per
selling square foot increased 2.5%, excluding in-transit
inventories. The increase primarily reflects a slightly higher
average unit cost for inventories on hand and forward fabric
commitments. In-transit inventories increased by $11.2 million, primarily reflecting an increase
in the amount and timing of shipping via ocean compared to
2013.
Share Repurchase Program
During the second quarter of fiscal 2014, the Company
repurchased 0.6 million shares for $10.0
million under its $300 million
share repurchase program announced in December 2013. During the twenty-six weeks ended
August 2, 2014 and August 3, 2013, the Company
repurchased a total of 0.6 million shares for $10.0 million and 4.9 million shares for
$85.0 million, respectively, with
$290 million remaining under the
program as of the end of the second quarter of fiscal 2014.
ABOUT CHICO'S FAS, INC.
The Company, through its brands – Chico's, White House | Black
Market, Soma Intimates, and Boston Proper, is a leading
omni-channel specialty retailer of women's private branded,
sophisticated, casual-to-dressy clothing, intimates, complementary
accessories, and other non-clothing items.
As of August 2, 2014, the Company operated 1,525 stores in
the US and Canada and sold
merchandise through franchise locations in Mexico. The Company's merchandise is also
available at www.chicos.com, www.whbm.com, www.soma.com, and
www.bostonproper.com. For more detailed information on Chico's FAS,
Inc., please go to our corporate website at www.chicosfas.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995 Certain statements contained herein,
including without limitation, statements addressing the beliefs,
plans, objectives, estimates or expectations of the Company or
future results or events constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, as amended. Such forward-looking statements involve
known or unknown risks, including, but not limited to, general
economic and business conditions, and conditions in the specialty
retail industry. There can be no assurance that the actual
future results, performance, or achievements expressed or implied
by such forward-looking statements will occur. Users of
forward-looking statements are encouraged to review the Company's
latest annual report on Form 10-K, its filings on Form 10-Q,
management's discussion and analysis in the Company's latest annual
report to stockholders, the Company's filings on Form 8-K, and
other federal securities law filings for a description of other
important factors that may affect the Company's business, results
of operations and financial condition. The Company does not
undertake to publicly update or revise its forward-looking
statements even if experience or future changes make it clear that
projected results expressed or implied in such statements will not
be realized.
(Financial Tables Follow)
Executive Contact:
Dave
Slater
Vice President – Investor Relations
Chico's FAS, Inc.
(239) 346-4199
Chico's FAS, Inc.
and Subsidiaries
Condensed
Consolidated Statements of Income
(Unaudited)
(in thousands, except
per share amounts)
|
|
|
|
|
|
Twenty-Six Weeks
Ended
|
|
Thirteen Weeks
Ended
|
|
August 2,
2014
|
|
August 3,
2013
|
|
August 2,
2014
|
|
August 3,
2013
|
|
Amount
|
|
% of
Sales
|
|
Amount
|
|
% of
Sales
|
|
Amount
|
|
% of
Sales
|
|
Amount
|
|
% of
Sales
|
Net
sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chico's/Soma
Intimates
|
$
|
872,009
|
|
|
64.4%
|
|
$
|
839,395
|
|
|
63.6%
|
|
$
|
431,888
|
|
|
64.3%
|
|
$
|
414,734
|
|
|
63.8%
|
White House | Black
Market
|
431,087
|
|
|
31.9%
|
|
425,488
|
|
|
32.2%
|
|
213,914
|
|
|
31.9%
|
|
205,090
|
|
|
31.6%
|
Boston
Proper
|
49,639
|
|
|
3.7%
|
|
55,342
|
|
|
4.2%
|
|
25,328
|
|
|
3.8%
|
|
29,679
|
|
|
4.6%
|
Total net
sales
|
1,352,735
|
|
|
100.0%
|
|
1,320,225
|
|
|
100.0%
|
|
671,130
|
|
|
100.0%
|
|
649,503
|
|
|
100.0%
|
Cost of goods
sold
|
618,372
|
|
|
45.7%
|
|
577,239
|
|
|
43.7%
|
|
319,658
|
|
|
47.6%
|
|
293,361
|
|
|
45.2%
|
Gross
margin
|
734,363
|
|
|
54.3%
|
|
742,986
|
|
|
56.3%
|
|
351,472
|
|
|
52.4%
|
|
356,142
|
|
|
54.8%
|
Selling, general and
administrative expenses
|
623,786
|
|
|
46.1%
|
|
591,161
|
|
|
44.7%
|
|
304,737
|
|
|
45.4%
|
|
286,262
|
|
|
44.0%
|
Acquisition and
integration costs
|
—
|
|
|
0.0%
|
|
914
|
|
|
0.1%
|
|
—
|
|
|
0.0%
|
|
—
|
|
|
0.0%
|
Income from
operations
|
110,577
|
|
|
8.2%
|
|
150,911
|
|
|
11.5%
|
|
46,735
|
|
|
7.0%
|
|
69,880
|
|
|
10.8%
|
Interest income
(expense), net
|
31
|
|
|
0.0%
|
|
299
|
|
|
0.0%
|
|
(9)
|
|
|
0.0%
|
|
108
|
|
|
0.0%
|
Income before
income taxes
|
110,608
|
|
|
8.2%
|
|
151,210
|
|
|
11.5%
|
|
46,726
|
|
|
7.0%
|
|
69,988
|
|
|
10.8%
|
Income tax
provision
|
40,600
|
|
|
3.0%
|
|
56,500
|
|
|
4.3%
|
|
16,600
|
|
|
2.5%
|
|
26,400
|
|
|
4.1%
|
Net
income
|
$
|
70,008
|
|
|
5.2%
|
|
$
|
94,710
|
|
|
7.2%
|
|
$
|
30,126
|
|
|
4.5%
|
|
$
|
43,588
|
|
|
6.7%
|
Per share
data:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per common
share-basic
|
$
|
0.46
|
|
|
|
|
|
$
|
0.58
|
|
|
|
|
|
$
|
0.20
|
|
|
|
|
|
$
|
0.27
|
|
|
|
|
Net income per common
and common
equivalent
share–diluted
|
$
|
0.46
|
|
|
|
|
|
$
|
0.58
|
|
|
|
|
|
$
|
0.20
|
|
|
|
|
|
$
|
0.27
|
|
|
|
|
Weighted average
common shares outstanding–
basic
|
148,584
|
|
|
|
|
|
157,379
|
|
|
|
|
|
148,694
|
|
|
|
|
|
156,589
|
|
|
|
|
Weighted average
common and common
equivalent
shares outstanding–diluted
|
149,127
|
|
|
|
|
|
158,322
|
|
|
|
|
|
149,218
|
|
|
|
|
|
157,573
|
|
|
|
|
Dividends declared
per share
|
$
|
0.225
|
|
|
|
|
|
$
|
0.165
|
|
|
|
|
|
$
|
0.075
|
|
|
|
|
|
$
|
0.055
|
|
|
|
|
Chico's FAS, Inc.
and Subsidiaries
Condensed
Consolidated Balance Sheets
(Unaudited)
(in
thousands)
|
|
|
|
|
|
|
|
August 2,
2014
|
|
February 1,
2014
|
|
August
3,
2013
|
|
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
Current
Assets:
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
$
|
114,387
|
|
|
$
|
36,444
|
|
|
$
|
93,417
|
|
Marketable
securities, at fair value
|
94,276
|
|
|
116,002
|
|
|
208,434
|
|
Inventories
|
238,072
|
|
|
238,145
|
|
|
211,148
|
|
Prepaid expenses and
other current assets
|
50,744
|
|
|
50,698
|
|
|
57,492
|
|
Total Current
Assets
|
497,479
|
|
|
441,289
|
|
|
570,491
|
|
Property and
Equipment, net
|
635,651
|
|
|
631,050
|
|
|
622,708
|
|
Other
Assets:
|
|
|
|
|
|
|
|
|
Goodwill
|
171,427
|
|
|
171,427
|
|
|
238,693
|
|
Other intangible
assets, net
|
116,017
|
|
|
118,196
|
|
|
125,988
|
|
Other assets,
net
|
10,828
|
|
|
9,229
|
|
|
8,212
|
|
Total Other
Assets
|
298,272
|
|
|
298,852
|
|
|
372,893
|
|
|
$
|
1,431,402
|
|
|
$
|
1,371,191
|
|
|
$
|
1,566,092
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
Liabilities:
|
|
|
|
|
|
|
|
|
Accounts
payable
|
$
|
156,091
|
|
|
$
|
131,254
|
|
|
$
|
139,727
|
|
Other current and
deferred liabilities
|
140,545
|
|
|
142,073
|
|
|
140,197
|
|
Total Current
Liabilities
|
296,636
|
|
|
273,327
|
|
|
279,924
|
|
Noncurrent
Liabilities:
|
|
|
|
|
|
|
|
|
Deferred
liabilities
|
141,704
|
|
|
138,874
|
|
|
141,708
|
|
Deferred
taxes
|
47,441
|
|
|
49,887
|
|
|
51,018
|
|
Total Noncurrent
Liabilities
|
189,145
|
|
|
188,761
|
|
|
192,726
|
|
Stockholders'
Equity:
|
|
|
|
|
|
|
|
|
Preferred
stock
|
—
|
|
|
—
|
|
|
—
|
|
Common
stock
|
1,530
|
|
|
1,522
|
|
|
1,609
|
|
Additional paid-in
capital
|
393,031
|
|
|
382,088
|
|
|
366,032
|
|
Retained
earnings
|
551,003
|
|
|
525,381
|
|
|
725,736
|
|
Accumulated other
comprehensive income
|
57
|
|
|
112
|
|
|
65
|
|
Total
Stockholders' Equity
|
945,621
|
|
|
909,103
|
|
|
1,093,442
|
|
|
$
|
1,431,402
|
|
|
$
|
1,371,191
|
|
|
$
|
1,566,092
|
|
Chico's FAS, Inc.
and Subsidiaries
Condensed
Consolidated Cash Flow Statements
(Unaudited)
(in
thousands)
|
|
|
|
Twenty-Six Weeks
Ended
|
|
August 2,
2014
|
|
August 3,
2013
|
Cash Flows From
Operating Activities:
|
|
|
|
|
|
Net income
|
$
|
70,008
|
|
|
$
|
94,710
|
|
Adjustments to
reconcile net income to net cash provided by operating activities
—
|
|
|
|
|
|
Depreciation and
amortization
|
60,373
|
|
|
58,628
|
|
Deferred tax
(benefit) expense
|
(4,443)
|
|
|
3,556
|
|
Stock-based
compensation expense
|
12,684
|
|
|
14,304
|
|
Excess tax benefit
from stock-based compensation
|
(1,196)
|
|
|
(1,437)
|
|
Deferred rent and
lease credits
|
(9,221)
|
|
|
(8,602)
|
|
Loss on disposal and
impairment of property and equipment
|
209
|
|
|
753
|
|
Changes in assets and
liabilities:
|
|
|
|
|
|
Inventories
|
73
|
|
|
(4,299)
|
|
Prepaid expenses and
other assets
|
(1,645)
|
|
|
(2,568)
|
|
Accounts
payable
|
13,346
|
|
|
1,483
|
|
Accrued and other
liabilities
|
12,952
|
|
|
(13,491)
|
|
Net cash provided by
operating activities
|
153,140
|
|
|
143,037
|
|
Cash Flows From
Investing Activities:
|
|
|
|
|
|
Purchases of
marketable securities
|
(42,700)
|
|
|
(60,128)
|
|
Proceeds from sale of
marketable securities
|
64,407
|
|
|
124,042
|
|
Purchases of property
and equipment, net
|
(62,966)
|
|
|
(71,745)
|
|
Net cash used in
investing activities
|
(41,259)
|
|
|
(7,831)
|
|
Cash Flows From
Financing Activities:
|
|
|
|
|
|
Proceeds from
issuance of common stock
|
4,297
|
|
|
7,900
|
|
Excess tax benefit
from stock-based compensation
|
1,196
|
|
|
1,437
|
|
Dividends
paid
|
(22,901)
|
|
|
(17,777)
|
|
Repurchase of common
stock
|
(16,527)
|
|
|
(90,208)
|
|
Net cash used in
financing activities
|
(33,935)
|
|
|
(98,648)
|
|
Effects of exchange
rate changes on cash and cash equivalents
|
(3)
|
|
|
—
|
|
Net increase in cash
and cash equivalents
|
77,943
|
|
|
36,558
|
|
Cash and Cash
Equivalents, Beginning of period
|
36,444
|
|
|
56,859
|
|
Cash and Cash
Equivalents, End of period
|
$
|
114,387
|
|
|
$
|
93,417
|
|
Supplemental Detail on Earnings Per Share
Calculation
In accordance with accounting guidance, unvested share-based
payment awards that include non-forfeitable rights to dividends,
whether paid or unpaid, are considered participating
securities. As a result, such awards are required to be
included in the calculation of earnings per common share pursuant
to the "two-class" method. For the Company, participating
securities are composed entirely of unvested restricted stock
awards and performance-based restricted stock units ("PSUs") that
have met their relevant performance criteria.
Earnings per share is determined using the two-class method, as
it is more dilutive than the treasury stock method. Basic
earnings per share is computed by dividing net income available to
common stockholders by the weighted-average number of common shares
outstanding during the period. Diluted earnings per share
reflects the dilutive effect of potential common shares from
non-participating securities such as stock options and PSUs. For
the twenty-six weeks and thirteen weeks ended August 2, 2014
and August 3, 2013, potential common shares from
non-participating securities were excluded from the computation of
diluted EPS because they were antidilutive.
The following unaudited table sets forth the computation of
basic and diluted earnings per share shown on the face of the
accompanying condensed consolidated statements of income (in
thousands, except per share amounts):
|
Twenty-Six Weeks
Ended
|
|
Thirteen Weeks
Ended
|
|
August 2,
2014
|
|
August 3,
2013
|
|
August 2,
2014
|
|
August 3,
2013
|
|
|
Numerator
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
$
|
70,008
|
|
|
$
|
94,710
|
|
|
$
|
30,126
|
|
|
$
|
43,588
|
|
Net income and
dividends declared allocated to participating
securities
|
(1,902)
|
|
|
(2,612)
|
|
|
(842)
|
|
|
(1,284)
|
|
Net income available
to common shareholders
|
$
|
68,106
|
|
|
$
|
92,098
|
|
|
$
|
29,284
|
|
|
$
|
42,304
|
|
Denominator
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
common shares outstanding – basic
|
148,584
|
|
|
157,379
|
|
|
148,694
|
|
|
156,589
|
|
Dilutive effect of
non-participating securities
|
543
|
|
|
943
|
|
|
524
|
|
|
984
|
|
Weighted average
common and common equivalent shares
outstanding –
diluted
|
149,127
|
|
|
158,322
|
|
|
149,218
|
|
|
157,573
|
|
Net income per common
share:
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
$
|
0.46
|
|
|
$
|
0.58
|
|
|
$
|
0.20
|
|
|
$
|
0.27
|
|
Diluted
|
$
|
0.46
|
|
|
$
|
0.58
|
|
|
$
|
0.20
|
|
|
$
|
0.27
|
|
SEC Regulation G - The Company reports its consolidated
financial results in accordance with generally accepted accounting
principles (GAAP). However, to supplement these consolidated
financial results, management believes that certain non-GAAP
results, which exclude certain non-recurring charges including
acquisition and integration costs, may provide a more meaningful
measure on which to compare the Company's results of operations
between periods. The Company believes these non-GAAP results
provide useful information to both management and investors by
excluding certain expenses that impact the comparability of the
results. A reconciliation of net income and earnings per
diluted share on a GAAP basis to net income and earnings per
diluted share on a non-GAAP basis is presented in the table
below:
Chico's FAS, Inc.
and Subsidiaries
|
GAAP to Non-GAAP
Reconciliation of Net Income and Diluted EPS
|
(Unaudited)
|
(in thousands, except
per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Twenty-Six Weeks
Ended
|
|
Thirteen Weeks
Ended
|
|
|
August 2,
2014
|
|
August 3,
2013
|
|
August 2,
2014
|
|
August 3,
2013
|
Net
income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP
basis
|
|
$
|
70,008
|
|
|
$
|
94,710
|
|
|
$
|
30,126
|
|
|
$
|
43,588
|
|
Add: Impact of
acquisition and integration costs, net of tax
|
|
—
|
|
|
572
|
|
|
—
|
|
|
—
|
|
Non-GAAP adjusted
basis
|
|
$
|
70,008
|
|
|
$
|
95,282
|
|
|
$
|
30,126
|
|
|
$
|
43,588
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per
diluted share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP
basis
|
|
$
|
0.46
|
|
|
$
|
0.58
|
|
|
$
|
0.20
|
|
|
$
|
0.27
|
|
Add: Impact of
acquisition and integration costs, net of tax
|
|
0.00
|
|
|
0.00
|
|
|
0.00
|
|
|
0.00
|
|
Non-GAAP adjusted
basis
|
|
$
|
0.46
|
|
|
$
|
0.58
|
|
|
$
|
0.20
|
|
|
$
|
0.27
|
|
Chico's FAS, Inc.
and Subsidiaries
|
Store Count and
Square Footage
|
Thirteen Weeks Ended
August 2, 2014
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
As of
5/3/14
|
|
New
Stores
|
|
Closures
|
|
As of
8/2/14
|
|
|
Store
count:
|
|
|
|
|
|
|
|
|
|
Chico's frontline
boutiques
|
619
|
|
1
|
|
—
|
|
620
|
|
|
Chico's
outlets
|
111
|
|
5
|
|
(1)
|
|
115
|
|
|
WH|BM frontline
boutiques
|
437
|
|
5
|
|
(1)
|
|
441
|
|
|
WH|BM
outlets
|
61
|
|
2
|
|
—
|
|
63
|
|
|
WH|BM
Canada
|
3
|
|
1
|
|
—
|
|
4
|
|
|
Soma frontline
boutiques
|
243
|
|
11
|
|
—
|
|
254
|
|
|
Soma
outlets
|
16
|
|
1
|
|
—
|
|
17
|
|
|
Boston Proper
frontline boutiques
|
6
|
|
5
|
|
—
|
|
11
|
|
|
Total Chico's FAS,
Inc.*
|
1,496
|
|
31
|
|
(2)
|
|
1,525
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of
5/3/14
|
|
New
Stores
|
|
Closures
|
|
Other
changes in
SSF
|
|
As of
8/2/14
|
Net selling square
footage (SSF):
|
|
|
|
|
|
|
|
|
|
Chico's frontline
boutiques
|
1,691,300
|
|
2,605
|
|
—
|
|
(1,344)
|
|
1,692,561
|
Chico's
outlets
|
279,612
|
|
12,008
|
|
(2,641)
|
|
—
|
|
288,979
|
WH|BM frontline
boutiques
|
991,553
|
|
13,298
|
|
(1,989)
|
|
817
|
|
1,003,679
|
WH|BM
outlets
|
125,978
|
|
4,731
|
|
—
|
|
—
|
|
130,709
|
WH|BM
Canada
|
7,987
|
|
2,064
|
|
—
|
|
—
|
|
10,051
|
Soma frontline
boutiques
|
460,879
|
|
20,240
|
|
—
|
|
(1,934)
|
|
479,185
|
Soma
outlets
|
30,227
|
|
1,445
|
|
—
|
|
—
|
|
31,672
|
Boston Proper
frontline boutiques
|
9,424
|
|
8,852
|
|
—
|
|
—
|
|
18,276
|
Total Chico's FAS,
Inc.
|
3,596,960
|
|
65,243
|
|
(4,630)
|
|
(2,461)
|
|
3,655,112
|
|
|
|
|
|
|
|
|
|
|
* As of August 2,
2014 the Company also sold merchandise through eight international
franchise locations.
|
Chico's FAS, Inc.
and Subsidiaries
|
Store Count and
Square Footage
|
Twenty-Six Weeks
Ended August 2, 2014
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
As of
2/1/14
|
|
New
Stores
|
|
Closures
|
|
As of
8/2/14
|
|
|
Store
count:
|
|
|
|
|
|
|
|
|
|
Chico's frontline
boutiques
|
611
|
|
11
|
|
(2)
|
|
620
|
|
|
Chico's
outlets
|
110
|
|
7
|
|
(2)
|
|
115
|
|
|
WH|BM frontline
boutiques
|
436
|
|
9
|
|
(4)
|
|
441
|
|
|
WH|BM
outlets
|
59
|
|
4
|
|
—
|
|
63
|
|
|
WH|BM
Canada
|
3
|
|
1
|
|
—
|
|
4
|
|
|
Soma frontline
boutiques
|
232
|
|
23
|
|
(1)
|
|
254
|
|
|
Soma
outlets
|
17
|
|
1
|
|
(1)
|
|
17
|
|
|
Boston Proper
frontline boutiques
|
4
|
|
7
|
|
—
|
|
11
|
|
|
Total Chico's FAS,
Inc.*
|
1,472
|
|
63
|
|
(10)
|
|
1,525
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of
2/1/14
|
|
New
Stores
|
|
Closures
|
|
Other
changes in
SSF
|
|
As of
8/2/14
|
Net selling square
footage (SSF):
|
|
|
|
|
|
|
|
|
|
Chico's frontline
boutiques
|
1,672,225
|
|
27,963
|
|
(5,544)
|
|
(2,083)
|
|
1,692,561
|
Chico's
outlets
|
278,223
|
|
17,093
|
|
(6,337)
|
|
—
|
|
288,979
|
WH|BM frontline
boutiques
|
986,708
|
|
23,688
|
|
(9,445)
|
|
2,728
|
|
1,003,679
|
WH|BM
outlets
|
121,565
|
|
9,144
|
|
—
|
|
—
|
|
130,709
|
WH|BM
Canada
|
7,987
|
|
2,064
|
|
—
|
|
—
|
|
10,051
|
Soma frontline
boutiques
|
441,387
|
|
41,387
|
|
(1,684)
|
|
(1,905)
|
|
479,185
|
Soma
outlets
|
32,682
|
|
1,445
|
|
(2,346)
|
|
(109)
|
|
31,672
|
Boston Proper
frontline boutiques
|
6,003
|
|
12,273
|
|
—
|
|
—
|
|
18,276
|
Total Chico's FAS,
Inc.
|
3,546,780
|
|
135,057
|
|
(25,356)
|
|
(1,369)
|
|
3,655,112
|
|
|
|
|
|
|
|
|
|
|
* As of August 2,
2014 the Company also sold merchandise through eight international
franchise locations.
|
Logo -
http://photos.prnewswire.com/prnh/20110920/FL71045LOGO
SOURCE Chico's FAS, Inc.