Chico's Income Rises 48.7 Percent

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Chico's FAS Inc. said yesterday that during the fiscal year ended Feb. 2, which included 52 weeks, net income increased 48.7 percent to a record $42.2 million compared with $28.4 million during the 53 weeks ended Feb. 3, 2001.


Net sales during the period increased 45.7 percent to $378.1 million from $259.4 million in the previous period. Comparable-store sales for company-owned stores increased 17.1 percent during the 52-week period compared with the same 52-week period in the prior year.


During the fiscal fourth quarter, which included 13 weeks, net income increased 72.1 percent to a record $9.8 million compared with $5.7 million during the 14-week quarter ended Feb. 3, 2001. Net sales during the fiscal fourth quarter increased 38.6 percent to $101.4 million from $73.1 million during the prior period. Comparable-store sales for company-owned stores were up 17.9 percent during the 13-week period compared with the same 13-week period a year ago.


Net sales by catalog and Internet for the fiscal year ended Feb. 2 amounted to $10,202,908 compared with $2,656,156 for the fiscal year ended Feb. 3, 2001. Also, net sales by catalog and Internet during the fiscal fourth quarter ended Feb. 2 reached $2,886,265, up from $1,723,131 during the fiscal fourth quarter ended Feb. 3, 2001.


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