Chico’s FAS net income dips in Q3
Fort Myers, Fla. — Chico’s FAS reported Tuesday that net income for the quarter ended Oct. 29 fell to $26.5 million, compared with $28.8 million a year earlier. Results include costs associated with the company’s acquisition of Boston Proper.
Net sales for the quarter increased 11.5% to $538.5 million, from $483 million. Same-store sales increased 3.7%. By brand, Chico’s/Soma Intimates same-store sales increased 0.6% and White House | Black Market surged 11%.
DSW Q3 profit beats Street, raises full-year outlook
Columbus, Ohio — DSW Inc. reported Tuesday that net income increased to $53.7 million in the third quarter, up from $35.5 million a year earlier.
Sales rose 8.5% to $530.7 million, from $489.3 million. Same-store sales increased 5.2%.
The shoe retailer cited strong boot sales for the performance surge. “We are confident in our strategies and continue to expect fiscal 2011 to represent a strong year of growth, and as a result we have increased our annual guidance," said Mike MacDonald president and CEO.
Citi Trends loss widens in Q3
Savannah, Ga. — Citi Trends reported Tuesday a loss of $6.8 million in the third quarter, compared with a loss of $0.4 million a year earlier.
Sales increased 2.2% to $143.1 million, from $140 million. Same-store sales decreased 9.3%.
The company opened 26 stores, relocated or expanded four others and closed one store in the third quarter.