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Chico’s Q4 up 26%; to open Boston Proper stores
Fort Meyers, Fla. -- Chico's FAS’ fiscal fourth quarter net income rose 26%, helped by new store openings and the same of more items at full price. The quarter also had an extra week of sales.
Chico’s earned $31.5 million for the 14 weeks ended Feb. 2, compared with $25.1 million in the 13-week period a year earlier.
Revenue rose 15% to $651.9 million, from $569.2 million. Wall Street analysts had expected higher revenue of $666.1 million.
Same-store sales rose 3.7%.
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Victoria’s Secret to make Hong Kong debut
Columbus, Ohio -- A Wednesday report by Bloomberg said that Limited Brands’ Victoria’s Secret banner would open its first stores in Hong Kong this year.
On the boards are two 1,500-sq.-ft. Victoria’s Secret shops at the International Finance Centre in the Central business district and at New Town Plaza. Bloomberg cited an emailed statement by Limited spokesperson Robin Hoffman.