Chico's sales drop 38.9 percent in the second quarter

Chico’s FAS, Inc., for the thirteen weeks reported a net loss of 46.8 million dollars or 40 cents loss per diluted share compared to net loss of 2.3 million or 2 cents loss per diluted share for the same quarter last year. Net sales were 306.2 million dollars, an improvement of 9.2 percent from the first quarter, reflecting the benefit of strong digital sales and store reopenings. The company said in a statement that sales decreased approximately 39.8 percent from last year’s second quarter, reflecting disruptions related to the pandemic, including the continuation of temporary store closures and limited hours during the second quarter, as well as the impact of 74 net permanent store closures since last year’s second quarter, partially offset by double-digit growth in digital performance.