Chico’s Q4 profit falls
Fort Myers, Fla. – Chico’s FAS’ profit was down sharply in the fourth quarter.
The retailer reported adjusted net income of $5.9 million for the quarter, ended Feb. 1, down from $32.7 million a year ago. The adjusted results exclude the impact of tax charges related to its purchase of Boston Proper, and other acquisition costs.
Net sales for the quarter decreased 6.4% to $610.2 million, compared to $651.9 million in the year-ago period. Chico’s said the decline was partly attributable to the fifty-third week of fiscal 2012. Same-store sales fell 3.4%, reflecting lower average dollar sale and transaction count, primarily as a result of the impact of a highly promotional environment in response to lower traffic, the company said.
For fiscal 2013, net sales were $2.6 billion, up 0.2% over last year. Same-store sales for 2013 decreased 1.8%.
L Brands Q4 profit up, sales down
Columbus, Ohio – L Brands Inc. saw its fourth-quarter profit increase 19% as the prior year was negatively impacted by special charges. The owner of Victoria’s Secret, Bed, Bath & Body Works and other brands earned $489.6 million for the quarter that ended Feb. 1, compared to $411.4 million, in the prior year.
Revenue for the quarter, which included an extra week, declined to $3.82 billion from $3.86 billion. Same-store sales were up 1%.
For the full year, L Brands earned $903 million, and reported sales of $10.77 billion.
Alliance Data renews agreement with HSN
Dallas — Alliance Data Systems, a global provider of data-driven marketing and loyalty solutions, today announced its Retail Services business has signed a multi-year renewal agreement to continue providing both private label and co-brand credit card services for lifestyle and entertainment retailer HSN.
“Alliance Data is a trusted partner that possesses the credit marketing and multi-channel expertise to help us achieve our business objectives,” said Bill Brand, chief marketing and business development officer, HSN. “Since we began partnering with Alliance Data Retail Services in 2009, the number of HSN cardholders has nearly tripled to more than 1 million, and we’ve more than doubled our credit sales. As HSN continues to deliver an exceptional shopping experience for our customers, our partnership with Alliance Data will be a key component in enhancing that experience and driving sales.”