Sales, Income Rise for Chico's, PETsMART

Share this content:
Net sales for Chico's FAS Inc. in the third quarter ended Nov. 2 skyrocketed 46.1 percent to a record $137.3 million from $94 million in the fiscal third quarter ended Nov. 3, 2001, the Fort Myers, FL, company said yesterday.


Net income increased 74.7 percent to $15.5 million from $8.9 million in the previous year's third quarter. Comparable-store sales for company-owned stores rose 18.2 percent in the 13 weeks ended Nov. 2 compared with the same time frame a year ago.


For the nine months ended Nov. 2, net sales increased 41.9 percent to a record $392.8 million from $276.7 million in the comparable period ended Nov. 3, 2001. Net income was up 59.7 percent to $51.7 million from $32.4 million. Comparable-store sales for company-owned stores rose 14.4 percent for the 39-week period.


"The third-quarter net income increase of 74.7 percent represents our 20th consecutive quarter with more than a 45 percent improvement in net income [excluding last year's third quarter]," Chico's CEO Marvin Gralnick said in a statement.


"Our November same-store sales increase of 11.3 percent, in spite of an unfavorable calendar shift, indicates an initial strong acceptance of our holiday collections," he said.


In the 39 weeks ended Nov. 2, net sales by catalog and Internet totaled $10.92 million, up from $7.32 million in the comparable period ended Nov. 3, 2001. For the 13 weeks ended Nov. 2, net sales by catalog and Internet reached $3.87 million, up from $2.68 million in the comparable period.


The company also announced an alliance with Amazon.com to offer Chico's merchandise at Amazon's apparel and accessories store, www.amazon.com/apparel. Chico's will join other apparel retailers on Amazon.com in time for the fall 2003 season.


In other news:


PETsMART Inc., Phoenix, reported fiscal third quarter net income of $20.7 million for the period ended Nov. 3, up from $5.8 million in the third quarter a year ago. Net sales in the quarter totaled $657 million compared with $599 million last year. Comparable-store sales, or sales in stores open at least a year, rose 9 percent in the quarter. Services sales in the quarter reached $36.7 million, up $8.6 million, or 30.5 percent.


Loading links....
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here