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Q2 Comp-store sales slip at Chico's FAS
FORT MYERS, Fla. — Chico's FAS’s financial results for the second quarter ended Aug. 3 were affected by a lower transaction count and average dollar sales, primarily because of lower traffic and the cycling of strong comparable sales last year.
The company reported net income of $43.6 million for the quarter — a decrease of 18.4% compared to $53.4 million in the year-ago quarter, and earnings per diluted share of $0.27, a decrease of 15.6% compared to $0.32 per diluted share in the year-ago quarter.
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E-commerce sales boost Express in Q2
Express delivered solid second quarter results, buoyed in part by e-commerce sales which once again experienced a double-digit increase.
Same-store sales increased 6%, up 1% from the year-ago quarter. Factoring into that same-store sales increase were the company’s e-commerce sales, which were$59.9 million, up 27% from last year’s $47.2 million.
Net sales for the quarter increased a better-than-expected 7% to $486.2 million, from $454.9 million. Net income rose 7% to $16.8 million from $15.9 million and was in line with Wall Street expectations.