The company said on Tuesday its Q1 net profit slipped. Revenues decreased by 8 percent from the same period last year.
For Q1, the company's net profit was 2 million dollars, decreased from 29 million dollars last year. Revenues dropped to 517.7 million dollars. Compared to 5 percent a year ago, the profit margin of the company decreased to 0 percent.
Chico's FAS Inc. (NYSE: CHS) through its brands is a specialty retailer of private branded, casual-to-dressy clothing, intimates, complementary accessories and also non-clothing gift items. The company operates over 1,400 boutiques and outlets throughout the United States and Canada, and sells merchandise through franchise locations in Mexico. Chico’s was founded in 1983.
As of 2019, Chico's has more than 18,500 employees and operates over 1,400 stores.