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Chico's fiscal Q3 profit falls 24.0% YOY

Chico's FAS Inc. said its normalized net income for the fiscal third quarter ended Nov. 1 amounted to 18 cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS decreased 20.8% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $26.4 million, a decrease of 24.0% from $34.7 million in the year-earlier period.

The normalized profit margin declined to 4.0% from 5.3% in the year-earlier period.

Total revenue climbed on an annual basis to $665.6 million from $655.6 million, and total operating expenses grew from the prior-year period to $623.4 million from $600.1 million.

Reported net income totaled $25.3 million, or 17 cents per share, compared to a loss of $27.9 million, or a loss of 18 cents per share, in the year-earlier period.