Chico's FAS Initiates Q1, FY19 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter and full-year 2018 on Wednesday, specialty retailer Chico's FAS Inc. (CHS) initiates guidance for the full-year 2019 and the first quarter.

For fiscal 2019, the Company anticipates a low-single-digit decline in total net sales and consolidated comparable sales compared to fiscal 2018.

For the first quarter of fiscal 2019, the Company anticipates a mid to high-single-digit decline in total net sales and consolidated comparable sales compared to the fiscal 2018 first quarter, reflecting softer sales throughout the month of February.

The company said it continues to execute the Chico's brand performance improvement plan to optimize its retail fleet and implement initiatives to improve its operating effectiveness. This outlook excludes expected net charges related to the retail fleet optimization plan.

For the fourth quarter, the company reported a comparable sales decline of 3.8%, driven by a decrease in transaction count and lower average dollar sale.

Separately, Chico's appointed Karen McKibbin as the new Chico's Brand President, effective April 1, 2019.