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Chico's profit misses consensus by 24.3% in fiscal Q2

Chico's FAS Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 came to 20 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

EPS fell 29.5% year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $29.2 million, a decrease of 33.2% from $43.7 million in the year-earlier period.

The normalized profit margin fell to 4.4% from 6.7% in the year-earlier period.

Total revenue increased on an annual basis to $671.1 million from $649.5 million, and total operating expenses grew 7.7% from the prior-year period to $624.4 million from $579.6 million.

Reported net income fell 29.9% year over year to $29.8 million, or 20 cents per share, from $42.5 million, or 27 cents per share.