NEW YORK — Chico’s FAS Inc. posted first-quarter results on Thursday that included gains in profits and revenues, but the company lowered full-year earnings-per-share guidance.
For the three months ended April 30, income rose 11.2 percent to $52.5 million, or 29 cents a diluted share, from $47.2 million, or 26 cents, in the year-ago quarter. Sales climbed 19.8 percent to $392 million from $327.3 million, which included a same-store sales increase in the low-single-digit range. Excluding catalogue and Internet, sales for the Chico’s/Soma brand rose 11 percent, to $297 million, and sales at White House|Black Market increased 62 percent, to $79 million.
The company said catalogue and Internet sales gained 55 percent because of the addition in fiscal 2006 of the catalogue and Internet results for White House|Black Market and Fitigues, its newest brand.
“Chico’s FAS Inc. continues to be one of the most productive and profitable apparel retailers in the industry,” Scott Edmonds, president and chief executive officer, said in a statement. “Even after implementing the new stock-based compensation accounting requirements, Chico’s still produced an overall operating margin in excess of 20 percent.”
The company adopted a new standard for how it accounts for stock-based compensation expenses.
Chico’s expects diluted earnings per share for fiscal 2006 to be $1.20 to $1.24, down from previous guidance of $1.23 to $1.26.