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Chico’s profit meets forecasts but sales miss
Ft. Myers, Fla. -- Chico's FAS Inc. on Wednesday reported that its first-quarter profit dropped 18% amid restructuring charges and lower sales.
The apparel retailer reported a profit of $32.5 million for the period ended, down from $39.9 million in the year-ago period. The results met Wall Street expectations.
Revenue rose 1.7% to $693.3 million in the period, which was short of Street forecasts.
Same-store sales fell 0.1%.
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Brown Shoe posts strong Q1; embarks on major rebranding, new name
St. Louis -- Brown Shoe Co., which will soon change its name to Caleres, reported a strong first quarter, with net earnings rising 24.8% to $19.3 million amid better-than-expected same-store sales and strong margins.
Net revenue rose 1.9% to $602.3 million from $591 million in the year ago period. Same-store sales rose 3.1%.
Gross margin of 41.3% was up approximately 30 basis points year-over-year, while operating margin of 5.0% was up approximately 10 basis points.

