Chico's FAS Affirms Outlook; Sets Three-Year Financial Targets

(RTTNews) - Chico's FAS, Inc. (CHS) has affirmed its outlook for the first quarter and full year. For the first quarter, the company expects: consolidated net sales of $485 million to $500 million; and earnings per share of $0.07 to $0.11. For fiscal 2022, the company expects: consolidated net sales of $2.085 billion to $2.115 billion; and earnings per share of $0.40 to $0.50.

By fiscal 2024, the company expects EPS growth representing a CAGR of 15+% from fiscal 2021. Total revenues are estimated in excess of $2.5 billion, with Digital revenues in excess of $1.0 billion. The company targets generation of approximately $400 million of cumulative cash flow from operations in the next three years.

Molly Langenstein, Chico's FAS CEO and President, said, "We have aggressively pursued our turnaround strategy which began in 2019. Today, we are well ahead of our plan and positioned to build on our momentum and further accelerate our growth."