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Chico's fiscal Q1 profit falls 22.2% YOY

Chico's FAS Inc. said its normalized net income for the fiscal first quarter ended May 3 was 27 cents per share, compared with the S&P Capital IQ consensus estimate of 28 cents per share.

EPS fell 16.8% year over year from 32 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $39.9 million, a decrease of 22.2% from $51.3 million in the prior-year period.

The normalized profit margin fell to 5.9% from 7.7% in the year-earlier period.

Total revenue climbed on an annual basis to $681.6 million from $670.7 million, and total operating expenses rose 4.9% on an annual basis to $617.8 million from $588.8 million.

Reported net income decreased 21.6% on an annual basis to $38.8 million, or 26 cents per share, from $49.5 million, or 31 cents per share.