May 24, 2017 / 11:37 AM / 2 months ago

BRIEF-Chico's Fas Q1 earnings per share $0.26

2 Min Read

May 24 (Reuters) - Chico's Fas Inc:

* Chico's Fas Inc reports first quarter results

* Q1 earnings per share $0.26

* Q1 sales $583.7 million versus I/B/E/S view $624.7 million

* Q1 earnings per share view $0.29 -- Thomson Reuters I/B/E/S

* Chico's Fas Inc - for Q1, gross margin was $237.4 million, or 40.7% of net sales, compared to $262.3 million, or 40.8% of net sales, in last year's Q1

* Chico's Fas Inc - for fiscal 2017, company anticipates a mid single-digit percentage decline in comparable sales

* Chico's Fas -capital expenditures are expected to be $60 million to $70 million for year

* Chico's Fas Inc - qtrly total company comparable sales down 8.7 percent

* Chico's Fas Inc - at end of Q1 of 2017, inventories totaled $273.9 million compared to $268.0 million in same period last year

* Chico's Fas - for fiscal 2017, expects gross margin as a percent of net sales to be flat to up to a 30 basis point increase for year, with approximately flat SG&A leverage

* Chico's Fas Inc - capital expenditures are expected to be $60 million to $70 million for year

* Chico's Fas - on-hand inventory in each quarter is expected to be down compared to last year, as company continues to actively manage inventory in 2017 Source text for Eikon: Further company coverage:

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