Chico’s Q4 up 26%; to open Boston Proper stores

Fort Meyers, Fla. -- Chico's FAS’ fiscal fourth quarter net income rose 26%, helped by new store openings and the same of more items at full price. The quarter also had an extra week of sales.

Chico’s earned $31.5 million for the 14 weeks ended Feb. 2, compared with $25.1 million in the 13-week period a year earlier.

Revenue rose 15% to $651.9 million, from $569.2 million. Wall Street analysts had expected higher revenue of $666.1 million.

Same-store sales rose 3.7%.  

For all of 2012, net income increased 28% to $180.2 million. Revenue rose 17% to $2.58 billion.  

The company said its long-term goals are to increase revenue by a low double-digit percentage and boost earnings per share by a mid-teen percentage. It announced today several strategic investments in 2013 to fuel future growth, including omni-channel capabilities, expansion into Canada, and opening its first Boston Proper stores.

 

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