EX-99.1 2 erexhibit991q42017.htm EXHIBIT 99.1 Q4 EARNINGS RELEASE Exhibit
Exhibit 99.1

chicosfasandbrandlogos.jpg

Chico’s FAS, Inc. Reports Fourth Quarter and Fiscal Year 2017 Results

•
Fourth quarter EPS of $0.22, including $0.08 benefit from U.S. tax reform, compared to EPS of $0.10 last year
•
Gross margin expanded 220 basis points in the fourth quarter
•
Net cash provided by operating activities of $167 million generated $118 million free cash flow in fiscal 2017

Fort Myers, FL - February 28, 2018 - Chico’s FAS, Inc. (NYSE: CHS) today announced its financial results for the fiscal 2017 fourth quarter and fiscal year ended February 3, 2018.
For the fourteen weeks ended February 3, 2018 (“the fourth quarter”), the Company reported net income of $28.0 million, or $0.22 per diluted share, compared to net income of $13.5 million, or $0.10 per diluted share, for the thirteen weeks ended January 28, 2017 (“last year’s fourth quarter”). Results for the fourth quarter include the favorable impact of the Tax Cuts and Jobs Act of 2017 (“U.S. tax reform”) of approximately $10 million after-tax, or $0.08 per diluted share, as well as the benefit of the 53rd week of approximately $4 million after-tax, or $0.03 per diluted share.
For the fifty-three weeks ended February 3, 2018 (“fiscal 2017“), the Company reported net income of $101.0 million, or $0.79 per diluted share, compared to net income of $91.2 million, or $0.69 per diluted share, for the fifty-two weeks ended January 28, 2017 (“fiscal 2016“). Results for fiscal 2017 include the favorable impact of U.S. tax reform of approximately $10 million after-tax, or $0.08 per diluted share, as well as the benefit of the 53rd week of approximately $4 million after-tax, or $0.03 per diluted share. Results for fiscal 2016 include the unfavorable impact of restructuring and strategic charges and Boston Proper of $15.4 million after-tax, or $0.12 per diluted share.
“Our fourth quarter results exceeded expectations and demonstrate clear progress in the execution of our strategic initiatives to drive improved performance and value creation,” said Shelley Broader, CEO and President. “In 2017, we strengthened our brands’ positioning, enhanced the customer experience, maintained financial discipline and built a solid foundation for our next stage of profitable growth. We are excited about our sales-driving initiatives for 2018, and we are confident in our continued success.”
Net Sales
For the fourth quarter, net sales were $587.8 million compared to $600.8 million in last year’s fourth quarter. This decrease of 2.2% primarily reflects a comparable sales decline of 5.2% as well as a decrease in selling square footage in fiscal 2017, partially offset by the $29 million benefit of the 53rd week. The comparable sales decline consisted of lower average dollar sale and flat transaction count.
For fiscal 2017, net sales were $2.3 billion compared to $2.5 billion in fiscal 2016. This decrease of 7.8% primarily reflects a comparable sales decline of 7.7% as well as a decrease in selling square footage in fiscal 2017, partially offset by the $29 million benefit of the 53rd week. The comparable sales decline consisted of lower average dollar sale and a decline in transaction count.


Page 1

Comparable Sales(1) 
 
Thirteen Weeks Ended
 
Fifty-Two Weeks Ended
 
January 27, 2018
 
January 28, 2017
 
January 27, 2018
 
January 28, 2017
Chico's
(3.2
)%
 
(4.8
)%
 
(7.2
)%
 
(5.3
)%
White House Black Market
(9.3
)%
 
(0.6
)%
 
(10.9
)%
 
(2.8
)%
Soma
(2.3
)%
 
0.4
 %
 
(1.5
)%
 
0.5
 %
Total Company
(5.2
)%
 
(2.5
)%
 
(7.7
)%
 
(3.7
)%
(1) The 53rd week is excluded from comparable sales calculations.

Gross Margin
For the fourth quarter, gross margin was $221.6 million, or 37.7% of net sales, compared to $213.4 million, or 35.5% of net sales, in last year’s fourth quarter. This 220 basis point increase primarily reflects a 170 basis point improvement in merchandise margin driven by lower average unit costs and a reduction in store occupancy costs.
Selling, General and Administrative Expenses
For the fourth quarter, selling, general and administrative expenses (“SG&A”) were $192.0 million, or 32.7% of net sales, compared to $192.0 million, or 31.9% of net sales, for last year’s fourth quarter. SG&A in the fourth quarter reflects a $13 million decline in store-related costs and marketing, primarily offset by the impact of the 53rd week.
Income Tax Expense
The fourth quarter effective tax rate was 4.4% which included an approximate $10 million benefit resulting from the impact of U.S. tax reform. Excluding the impact of U.S. tax reform, the fourth quarter effective tax rate was 37.7% compared to 35.4% for last year’s fourth quarter. The fiscal 2017 effective tax rate was 29.7%. Excluding the impact of U.S. tax reform, the fiscal 2017 effective tax rate was 36.4%.
Inventories
At the end of the fourth quarter, inventories totaled $233.7 million compared to $232.4 million at the end of the fourth quarter last year. Inventories at the end of the fourth quarter include a $16.5 million increase due to a change in shipping terms with a supplier in fiscal 2017. Excluding the impact of the change in shipping terms, inventories decreased 6.5% reflecting continued inventory management.
Share Repurchase Program
During the fourth quarter of 2017, under its $300.0 million share repurchase program announced in November 2015, the Company repurchased 0.2 million shares for $1.7 million, at a weighted average of $8.66 per share with $136.2 million remaining under the program. During fiscal 2017, the Company repurchased a total of 2.7 million shares for $27.4 million, at a weighted average of $10.16 per share.
2018 Full-Year Outlook
For fiscal 2018, the Company is anticipating a low single-digit decline in consolidated comparable sales with comparable sales performance stronger in the second half of the year compared to the first half.
The Company expects gross margin expansion in the range of 125 to 150 basis points over fiscal 2017, driven by decreased average unit costs and planned improvement in promotions. The Company also anticipates SG&A expenses to be approximately flat compared to fiscal 2017.
The Company estimates a fiscal 2018 tax rate in the range of 26% to 28%. The rate includes the benefit of the new 21% federal rate, partially offset by additional expenses due to changes in the deductibility of executive compensation and a lower benefit from state tax deductions.

Page 2


In addition, the Company anticipates 2018 capital expenditures to be $70 million to $80 million, primarily driven by store reinvestments and technology enhancements.

ABOUT CHICO’S FAS, INC.    
The Company, through its brands – Chico’s, White House Black Market and Soma, is a leading omni-channel specialty retailer of women’s private branded, sophisticated, casual-to-dressy clothing, intimates and complementary accessories.
As of February 3, 2018, the Company operated 1,460 stores in the US and Canada and sold merchandise through 94 franchise locations in Mexico. The Company’s merchandise is also available at www.chicos.com, www.chicosofftherack.com, www.whbm.com and www.soma.com. For more detailed information on Chico’s FAS, Inc., please go to our corporate website at www.chicosfas.com. The information on our corporate website is not, and shall not be deemed to be, a part of this press release or incorporated into our federal securities law filings.

Chico’s FAS, Inc. • 11215 Metro Parkway • Fort Myers, Florida 33966 • (239) 277-6200

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect our current views with respect to certain events that could have an effect on our future financial performance. These statements, including without limitation statements made in Ms. Broader's quotes and in the section entitled "2018 Full-Year Outlook," relate to expectations concerning matters that are not historical fact and may include the words or phrases such as “will,” “should,” “expects,” “believes,” “anticipates,” “plans,” “intends,” “estimates,” “approximately,” “our planning assumptions,” “future outlook,” and similar expressions. Except for historical information, matters discussed in such statements are forward-looking statements. These forward-looking statements are based largely on information currently available to our management and on our current expectations, assumptions, plans, estimates, judgments and projections about our business and our industry, and are subject to various risks and uncertainties that could cause actual results to differ materially from historical results or those currently anticipated. Although we believe our expectations are based on reasonable estimates and assumptions, we cannot guarantee their accuracy or our future performance, and there are a number of known and unknown risks, uncertainties, contingencies, and other factors (many of which are outside our control) that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Accordingly, there is no assurance that our expectations will, in fact, occur or that our estimates or assumptions will be correct, and we caution investors and all others not to place undue reliance on such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, changes in the general economic and business environment; changes in the general or specialty retail or apparel industries; the availability of quality store sites; the ability to successfully execute and achieve the expected results of our business strategies, particular strategic initiatives, including sales initiatives, and organizational redesign; the successful integration of new members of our senior management team; changes in the political environment that create consumer uncertainty; significant changes to product import and distribution costs (such as unexpected consolidation in the freight carrier industry, and the ability to remain competitive with customer shipping terms and costs pertaining to product deliveries and returns); new or increased taxes or tariffs; significant shifts in consumer behavior; and those other factors described in Item 1A, “Risk Factors” and in the “Forward-Looking Statements” disclosure in Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our latest annual report on Form 10-K and in Part II, Item 1A, “Risk Factors” and the “Forward-Looking Statements” disclosure in Part I, Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operation” of our quarterly reports on Form 10-Q and in other reports we file with or furnish to the Securities and Exchange Commission. There can be no assurance that the actual future results, performance, or achievements expressed or implied by such forward-looking statements will occur. All forward-looking statements that are made or attributable to us are expressly qualified in their entirety by this cautionary notice. 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:
Julie Lorigan
Vice President – Investor Relations,
Public Relations and Corporate Communications
Chico’s FAS, Inc.
(239) 346-4199

Page 3



Chico’s FAS, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(Unaudited)
(in thousands, except per share amounts)

 
 
Fourteen Weeks Ended
 
Thirteen Weeks Ended
 
Fifty-Three Weeks Ended
 
Fifty-Two Weeks Ended
 
 
February 3, 2018
 
January 28, 2017
 
February 3, 2018
 
January 28, 2017
 
 
Amount
 
% of
Sales
 
Amount
 
% of
Sales
 
Amount
 
% of
Sales
 
Amount
 
% of
Sales
Net sales:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Chico's
 
$
290,699

 
49.4

 
$
290,763

 
48.4

 
$
1,187,603

 
52.0

 
$
1,285,830

 
51.9

White House Black Market
 
197,919

 
33.7

 
212,615

 
35.4

 
750,912

 
32.9

 
846,035

 
34.2

Soma
 
99,165

 
16.9

 
97,411

 
16.2

 
343,864

 
15.1

 
344,545

 
13.9

Total net sales
 
587,783

 
100.0

 
600,789

 
100.0

 
2,282,379

 
100.0

 
2,476,410

 
100.0

Cost of goods sold
 
366,222

 
62.3

 
387,392

 
64.5

 
1,417,602

 
62.1

 
1,529,574

 
61.8

Gross margin
 
221,561

 
37.7

 
213,397

 
35.5

 
864,777

 
37.9

 
946,836

 
38.2

Selling, general and administrative expenses
 
192,002

 
32.7

 
191,990

 
31.9

 
719,607

 
31.5

 
775,107

 
31.2

Restructuring and strategic charges
 
—

 
0.0

 
—

 
0.0

 
—

 
0.0

 
31,027

 
1.3

Income from operations
 
29,559

 
5.0

 
21,407

 
3.6

 
145,170

 
6.4

 
140,702

 
5.7

Interest expense, net
 
(284
)
 
0.0

 
(499
)
 
(0.1
)
 
(1,570
)
 
(0.1
)
 
(1,973
)
 
(0.1
)
Income before income taxes
 
29,275

 
5.0

 
20,908

 
3.5

 
143,600

 
6.3

 
138,729

 
5.6

Income tax provision
 
1,300

 
0.2

 
7,400

 
1.3

 
42,600

 
1.9

 
47,500

 
1.9

Net income
 
$
27,975

 
4.8

 
$
13,508

 
2.2

 
$
101,000

 
4.4

 
$
91,229

 
3.7

Per share data:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income per common share-basic
 
$
0.22

 
 
 
$
0.10

 
 
 
$
0.79

 
 
 
$
0.69

 
 
Net income per common and common equivalent share–diluted
 
$
0.22

 
 
 
$
0.10

 
 
 
$
0.79

 
 
 
$
0.69

 
 
Weighted average common shares outstanding–basic
 
124,747

 
 
 
126,489

 
 
 
125,341

 
 
 
128,995

 
 
Weighted average common and common equivalent shares outstanding–diluted
 
124,808

 
 
 
126,905

 
 
 
125,403

 
 
 
129,237

 
 
Dividends declared per share
 
$
0.0825

 
 
 
$
0.08

 
 
 
$
0.33

 
 
 
$
0.32

 
 

Page 4





Chico’s FAS, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Unaudited)
(in thousands)


 
February 3, 2018
 
January 28, 2017
ASSETS
Current Assets:
 
 
 
Cash and cash equivalents
$
160,071

 
$
142,135

Marketable securities, at fair value
60,060

 
50,370

Inventories
233,726

 
232,363

Prepaid expenses and other current assets
60,668

 
52,758

Total Current Assets
514,525

 
477,626

Property and Equipment, net
421,038

 
477,185

Other Assets:
 
 
 
Goodwill
96,774

 
96,774

Other intangible assets, net
38,930

 
38,930

Other assets, net
16,338

 
18,479

Total Other Assets
152,042

 
154,183

 
$
1,087,605

 
$
1,108,994

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
 
 
 
Accounts payable
$
118,253

 
$
116,378

Current debt
15,000

 
16,250

Other current and deferred liabilities
133,715

 
170,232

Total Current Liabilities
266,968

 
302,860

Noncurrent Liabilities:
 
 
 
Long-term debt
53,601

 
68,535

Deferred liabilities
103,282

 
118,543

Deferred taxes
7,372

 
9,883

Total Noncurrent Liabilities
164,255

 
196,961

Shareholders’ Equity:
 
 
 
Preferred stock
—

 
—

Common stock
1,275

 
1,288

Additional paid-in capital
468,806

 
452,756

Treasury stock, at cost
(413,465
)
 
(386,094
)
Retained earnings
599,810

 
541,251

Accumulated other comprehensive loss
(44
)
 
(28
)
Total Shareholders’ Equity
656,382

 
609,173

 
$
1,087,605

 
$
1,108,994


Page 5






Chico’s FAS, Inc. and Subsidiaries
Condensed Consolidated Cash Flow Statements
(Unaudited)
(in thousands)

 
Fifty-Three Weeks Ended
 
Fifty-Two Weeks Ended
 
February 3, 2018
 
January 28, 2017
Cash Flows From Operating Activities:
 
 
 
Net income
$
101,000

 
$
91,229

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation and amortization
96,310

 
109,251

Deferred tax benefit
(2,070
)
 
(8,427
)
Stock-based compensation expense
20,678

 
21,249

Deferred rent and lease credits
(19,692
)
 
(18,811
)
Loss on disposal and impairment of property and equipment
7,042

 
10,523

Changes in assets and liabilities:
 
 
 
Inventories
(1,364
)
 
1,472

Prepaid expenses and other assets
(4,584
)
 
(7,565
)
Income tax receivable
(311
)
 
26,749

Accounts payable
1,950

 
(13,015
)
Accrued and other liabilities
(32,086
)
 
18,659

Net cash provided by operating activities
166,873

 
231,314

Cash Flows From Investing Activities:
 
 
 
Purchases of marketable securities
(39,794
)
 
(50,717
)
Proceeds from sale of marketable securities
30,045

 
50,508

Purchases of property and equipment, net
(48,530
)
 
(47,836
)
Proceeds from sale of land
—

 
16,217

Net cash used in investing activities
(58,279
)
 
(31,828
)
Cash Flows From Financing Activities:
 
 
 
Payments on borrowings
(16,250
)
 
(7,500
)
Proceeds from issuance of common stock
2,127

 
4,359

Dividends paid
(42,516
)
 
(42,254
)
Repurchase of common stock
(27,398
)
 
(96,363
)
Payments of tax withholdings related to stock-based awards
(6,740
)
 
(5,515
)
Net cash used in financing activities
(90,777
)
 
(147,273
)
Effects of exchange rate changes on cash and cash equivalents
119

 
(29
)
Net increase in cash and cash equivalents
17,936

 
52,184

Cash and Cash Equivalents, Beginning of period
142,135

 
89,951

Cash and Cash Equivalents, End of period
$
160,071

 
$
142,135


Page 6




Supplemental Detail on Net Income 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.

Net income per share is determined using the two-class method when it is more dilutive than the treasury stock method. Basic net income per share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period, including participating securities. Diluted net income per share reflects the dilutive effect of potential common shares from non-participating securities such as stock options, PSUs and restricted stock units. For the fourteen and fifty-three weeks ended February 3, 2018 and thirteen and fifty-two weeks ended January 28, 2017, potential common shares were excluded from the computation of diluted EPS to the extent 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):

 
 
Fourteen Weeks Ended
 
Thirteen Weeks Ended
 
Fifty-Three Weeks Ended
 
Fifty-Two Weeks Ended
 
 
February 3, 2018
 
January 28, 2017
 
February 3, 2018
 
January 28, 2017
Numerator
 
 
 
 
 
 
 
 
Net income
 
$
27,975

 
$
13,508

 
$
101,000

 
$
91,229

Net income and dividends declared allocated to participating securities
 
(617
)
 
(258
)
 
(2,300
)
 
(1,915
)
Net income available to common shareholders
 
$
27,358

 
$
13,250

 
$
98,700

 
$
89,314

Denominator
 
 
 
 
 
 
 
 
Weighted average common shares outstanding – basic
 
124,747

 
126,489

 
125,341

 
128,995

Dilutive effect of non-participating securities
 
61

 
416

 
62

 
242

Weighted average common and common equivalent shares outstanding – diluted
 
124,808

 
126,905

 
125,403

 
129,237

Net income per common share:
 
 
 
 
 
 
 
 
Basic
 
$
0.22

 
$
0.10

 
$
0.79

 
$
0.69

Diluted
 
$
0.22

 
$
0.10

 
$
0.79

 
$
0.69


Page 7





Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow
(Non-GAAP Financial Measure)

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 should be considered in addition to, not as a substitute for, GAAP measures.
    
Free cash flow is a non-GAAP financial measure which the Company defines as net cash provided by operating activities less purchases of property and equipment. We believe free cash flow, when used in conjunction with GAAP measures, provides investors with a meaningful analysis of our ability to generate cash for discretionary and non-discretionary items after deducting purchases of property and equipment.

Free cash flow is not a measure of financial performance under GAAP and should be considered in addition to, and not as a substitute for, operating cash flows or other financial measures prepared in accordance with GAAP. Our method of determining non-GAAP financial measures may differ from other companies’ methods and therefore may not be comparable to those used by other companies.

A reconciliation of net cash provided by operating activities on a GAAP basis to free cash flow on a non-GAAP basis for the fifty-three weeks ended February 3, 2018 is presented in the table below:


Chico’s FAS, Inc. and Subsidiaries
Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow
(Unaudited)
(in thousands)
 
 
 
 
 
Fifty-Three Weeks Ended
 
 
February 3, 2018
Net cash provided by operating activities
 
$
166,873

Less: Purchases of property and equipment, net
 
(48,530
)
Free cash flow
 
$
118,343




Page 8



Chico's FAS, Inc. and Subsidiaries
Store Count and Square Footage
Fourteen Weeks Ended February 3, 2018
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
October 28, 2017
 
New Stores
 
Closures
 
February 3, 2018
 
 
Store count:
 
 
 
 
 
 
 
 
 
Chico’s frontline boutiques
576

 
—

 
(8
)
 
568

 
 
Chico’s outlets
117

 
4

 
(1
)
 
120

 
 
Chico's Canada
4

 
—

 
—

 
4

 
 
WHBM frontline boutiques
412

 
—

 
(8
)
 
404

 
 
WHBM outlets
69

 
—

 
—

 
69

 
 
WHBM Canada
6

 
—

 
—

 
6

 
 
Soma frontline boutiques
271

 
1

 
(2
)
 
270

 
 
Soma outlets
19

 
—

 
—

 
19

 
 
Total Chico’s FAS, Inc.
1,474

 
5

 
(19
)
 
1,460

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
October 28, 2017
 
New Stores
 
Closures
 
Other changes in SSF
 
February 3, 2018
Net selling square footage (SSF):
 
 
 
 
 
 
 
 
 
Chico’s frontline boutiques
1,577,849

 
—

 
(22,561
)
 
383

 
1,555,671

Chico’s outlets
294,257

 
9,826

 
(2,309
)
 
314

 
302,088

Chico's Canada
9,695

 
—

 
—

 
—

 
9,695

WHBM frontline boutiques
958,030

 
—

 
(18,424
)
 
—

 
939,606

WHBM outlets
143,918

 
—

 
—

 
45

 
143,963

WHBM Canada
14,891

 
—

 
—

 
—

 
14,891

Soma frontline boutiques
513,548

 
1,693

 
(3,252
)
 
—

 
511,989

Soma outlets
35,541

 
—

 
—

 
—

 
35,541

Total Chico’s FAS, Inc.
3,547,729

 
11,519

 
(46,546
)
 
742

 
3,513,444


As of February 3, 2018 the Company also sold merchandise through 94 international franchise locations.

Page 9




Chico's FAS, Inc. and Subsidiaries
Store Count and Square Footage
Fifty-Three Weeks Ended February 3, 2018
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
January 28, 2017
 
New Stores
 
Closures
 
February 3, 2018
 
 
Store count:
 
 
 
 
 
 
 
 
 
Chico’s frontline boutiques
587

 
—

 
(19
)
 
568

 
 
Chico’s outlets
116

 
5

 
(1
)
 
120

 
 
Chico's Canada
4

 
—

 
—

 
4

 
 
WHBM frontline boutiques
423

 
—

 
(19
)
 
404

 
 
WHBM outlets
71

 
—

 
(2
)
 
69

 
 
WHBM Canada
6

 
—

 
—

 
6

 
 
Soma frontline boutiques
275

 
2

 
(7
)
 
270

 
 
Soma outlets
19

 
—

 
—

 
19

 
 
Total Chico’s FAS, Inc.
1,501

 
7

 
(48
)
 
1,460

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
January 28, 2017
 
New Stores
 
Closures
 
Other changes in SSF
 
February 3, 2018
Net selling square footage (SSF):
 
 
 
 
 
 
 
 
 
Chico’s frontline boutiques
1,606,730

 
—

 
(47,279
)
 
(3,780
)
 
1,555,671

Chico’s outlets
291,455

 
12,163

 
(2,309
)
 
779

 
302,088

Chico's Canada
9,695

 
—

 
—

 
—

 
9,695

WHBM frontline boutiques
984,754

 
—

 
(45,692
)
 
544

 
939,606

WHBM outlets
148,457

 
—

 
(4,316
)
 
(178
)
 
143,963

WHBM Canada
14,891

 
—

 
—

 
—

 
14,891

Soma frontline boutiques
519,945

 
3,882

 
(12,885
)
 
1,047

 
511,989

Soma outlets
35,637

 
—

 
—

 
(96
)
 
35,541

Total Chico’s FAS, Inc.
3,611,564

 
16,045

 
(112,481
)
 
(1,684
)
 
3,513,444


As of February 3, 2018 the Company also sold merchandise through 94 international franchise locations.



Page 10