Chico's Net Sales Rise 36.2%
Chico's FAS Inc. said yesterday that net sales increased 36.2 percent to $94 million for the fiscal third quarter ended Nov. 3, compared with $69 million for the quarter ended Oct. 28, 2000.Net income for the Fort Myers, FL-based apparel and accessories retailer was $8.9 million, up 13.8 percent from $7.8 million for the prior-year period.
Comparable-store sales for company-owned stores rose 7 percent for the quarter compared with last year.
Net sales by catalog and Internet during the 13-week period ended Oct. 28, 2000, totaled $729,902, and have since skyrocketed to $2,676,732 for the comparable period ended Nov. 3.
According to reports, Chico's issued two catalogs in November compared with one last year and the retailer also had television ads this year, all of which contributed to the sales increase, Mercedes Sanchez, an analyst with Raymond James, said.
