Chico's FAS Lifts Q4 Comparable Sales Outlook

(RTTNews) - Chico's FAS Inc. (CHS) said it anticipates fourth quarter total comparable sales in the negative 5% to negative 7% range, an improvement on its previous outlook of negative high single-digits. As previously announced, approximately $30 million in sales from the 53rd week of fiscal 2017 are not included in the comparable sales calculation for the Company's outlook.

The company continues to expect fourth quarter gross margin rate to be approximately flat to up slightly, in line with its previous outlook. SG&A expenses for the fourth quarter are expected to be approximately flat to last year, after incorporating costs from the 53rd week.

The company said it will release its full fourth quarter and fiscal 2017 results on February 28, 2018.