CHICO’S      NEWSRELEASE

Chico’s FAS, Inc. • 11215 Metro Parkway • Fort Myers, Florida 33912 • (239) 277-6200 • Fax: (239) 277-5237

For Immediate Release

Executive Contact:	Investor / Media Contacts:
Charles J. Kleman	James Palczynski-Investor Relations
Chief Operating Officer	Megan McDonnell-Media Relations
Chief Financial Officer	Integrated Corporate Relations, Inc.
Chico’s FAS, Inc.	(203) 222-9013
(239) 274-4105

Chico’s FAS, Inc. Announces Record Third Quarter and
Nine Month Revenues and Earnings

• Third quarter net income up 72.2% to a record $27 million

• Revenues rose 40.8% to a record $553 million for the nine months

• Net income climbed 44.3% to a record $75 million for the nine months

     Fort Myers, FL — December 2, 2003 - Chico’s FAS, Inc. (NYSE: CHS) today announced its financial results for the third quarter and nine months ended November 1, 2003.

     Net sales for the third quarter ended November 1, 2003, increased 53.4% to a record $211 million from $137 million for the third quarter ended November 2, 2002. Net income rose 72.2% to $27 million, or $0.30 a diluted share, compared to net income of $16 million, or $0.18 a diluted share, in the prior year’s third quarter. Comparable store sales for the Company-owned stores increased 20.9% for the thirteen week period ended November 1, 2003, compared to the same thirteen week period last year.

     For the nine months ended November 1, 2003, net sales increased 40.8% to a record $553 million from $393 million for the prior year’s nine months ended November 2, 2002. Net income rose 44.3% to $75 million, or $0.85 a diluted share, compared to net income of $52 million, or $0.60 a diluted share, in the prior period. Comparable store sales for Company-owned stores increased 14.6% for the thirty-nine week period compared to the same thirty-nine week period last year.

     Scott A. Edmonds, Chico’s President and CEO, commented, “We were very pleased with our financial, operational, and strategic performance during the third quarter. Our product offerings at Chico’s continued to meet with unprecedented levels of consumer acceptance as reflected by the quarter’s 20.9% comparable store sales gain. Our new White House|Black Market stores also ran solid year-over-year comparable store sales gains during the quarter. Their momentum, driven in part by our mailing of the first catalog to showcase their concept and merchandise, has continued into November. We are excited about the prospects for both of these concepts during the remainder of the holiday season.

     We are proud to have posted a 72% increase in our quarterly earnings on top of last year’s 75% third quarter increase, especially considering that this year’s results include a pre-

Page 1 of 4

tax charge of $3.6 million that resulted from our decision to discontinue the test of the Pazo concept. Our increase in gross margin to 61.4% from 60.0%, driven primarily from continued improvement in initial markups and operating efficiencies realized at our new distribution center, is especially notable as it was achieved despite the inclusion of the White House|Black Market sales in the mix, which operates at considerably lower gross margin rates. It is important to note that the talented management team of Chico’s achieved these outstanding results while at the same time closing The White House acquisition and rolling out new chain-wide software systems for essentially all of our back office operations including merchandising, product development, planning, product allocation, finance, sales audit, and other systems.”

     Chico’s sells exclusively designed, private-label women’s clothing and related accessories. The Company operates 548 women’s specialty stores, including stores in 45 states, the District of Columbia, the Virgin Islands and Puerto Rico operating under either the name Chico’s or White House|Black Market. The Company owns 394 Chico’s front-line stores, 22 Chico’s outlet stores, 111 White House|Black Market stores and 9 Pazo stores; franchisees own and operate 12 Chico’s stores.

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.

For more detailed information, please call (877) 424-4267 to listen to Chico’s monthly
sales information and investor relations line

A copy of a slide show addressing Chico’s recent financial results and current plans
for expansion is available on the Chico’s website at www.chicos.com in the investor relations
section

Additional investor information on Chico’s FAS, Inc. is available free of charge on the Chico’s
website at www.chicos.com in the investor relations section

(Financial Tables Follow)

Page 2 of 4

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

			November 1,			February 1,
			2003			2003
ASSETS
Current Assets:
	Cash and cash equivalents		$	18,627		$	8,753
	Marketable securities, at market			70,243			91,195
	Receivables			5,302			2,226
	Inventories			60,146			44,908
	Prepaid expenses			8,363			6,223
	Deferred taxes			10,187			7,125
		Total Current Assets		172,868			160,430
Property and Equipment:
	Land and land improvements			5,310			5,166
	Building and building improvements			23,584			19,668
	Equipment, furniture and fixtures			91,663			71,769
	Leasehold improvements			98,398			78,792
		Total Property and Equipment		218,955			175,395
	Less accumulated depreciation and amortization			(51,445	)		(36,686	)
		Property and Equipment, Net		167,510			138,709
Other Assets:
	Deferred taxes			–			92
	Goodwill			59,425			–
	Other intangible assets			34,065			–
	Other assets, net			4,669			2,313
		Total Other Assets		98,159			2,405
			$	438,537		$	301,544
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
	Accounts payable		$	38,283		$	28,489
	Accrued liabilities			35,509			26,200
	Current portion of deferred liabilities			833			171
		Total Current Liabilities		74,625			54,860
Noncurrent Liabilities:
	Deferred taxes			11,476			–
	Deferred liabilities			12,386			6,551
		Total Noncurrent Liabilities		23,862			6,551
Stockholders’ Equity:
	Common stock			871			853
	Additional paid-in capital			89,409			63,986
	Retained earnings			249,702			175,109
	Accumulated other comprehensive income			68			185
		Total Stockholders’ Equity		340,050			240,133
			$	438,537		$	301,544

Page 3 of 4

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

		Thirty-Nine Weeks Ended								Thirteen Weeks Ended
		November 1, 2003				November 2, 2002				November 1, 2003				November 2, 2002
		Amount		% of Sales		Amount		% of Sales		Amount		% of Sales		Amount		% of Sales
Net sales by Company stores		$	530,026		95.8	$	376,953		96.0	$	201,716		95.8	$	131,560		95.9
Net sales by catalog & Internet			17,084		3.1		10,924		2.8		6,578		3.1		3,867		2.8
Net sales to Franchisees			5,880		1.1		4,906		1.2		2,275		1.1		1,834		1.3
	Net sales		552,990		100.0		392,783		100.0		210,569		100.0		137,261		100.0
Cost of goods sold			211,725		38.3		153,465		39.1		81,202		38.6		54,885		40.0
	Gross profit		341,265		61.7		239,318		60.9		129,367		61.4		82,376		60.0
General, administrative and store operating expenses			206,522		37.4		145,796		37.1		80,815		38.4		53,666		39.1
Depreciation and amortization			15,137		2.7		10,740		2.7		5,547		2.6		3,868		2.8
	Income from operations		119,606		21.6		82,782		21.1		43,005		20.4		24,842		18.1
Interest income, net			705		0.2		621		0.2		155		0.1		228		0.2
	Income before taxes		120,311		21.8		83,403		21.3		43,160		20.5		25,070		18.3
Income tax provision			45,718		8.3		31,694		8.1		16,401		7.8		9,526		7.0
	Net income	$	74,593		13.5	$	51,709		13.2	$	26,759		12.7	$	15,544		11.3
	Per share data:
Net income per common share–basic		$	0.87			$	0.63			$	0.31			$	0.19
Net income per common & common equivalent share–diluted		$	0.85			$	0.60			$	0.30			$	0.18
Weighted average common shares outstanding–basic			86,100				82,700				86,818				83,745
Weighted average common & common equivalent shares outstanding–diluted			87,827				85,720				88,509				86,158

Page 4 of 4