Chain Store Age
Chico’s FAS’s continued to struggle in the second quarter amid plunging sales at White House | Black Market and a better-than-expected performance by its lingerie brand, Soma.
Revenue fell 6.7% to $508.4 million, below the $513.0 million analysts had estimated. The decrease was driven by a total same-store sales decline of 6.1%, more than the Street expected, as well as the impact of 53 net store closures since last year’s second quarter, the company said.
By brand, same-store sales fell 16.1% at White House Black Market and 5.6% at Chico’s. Same-store sales rose 10.9% at Soma. . . . more