Chico's FAS Q2: EPS Beat, Topline Miss, Pressured Margins, Mixed Outlook & More
Portfolio Pulse from Nabaparna Bhattacharya
Chico's FAS, Inc. reported Q2 revenue of $545.13 million, down 2.4% YoY, missing the Street view of $554.90 million. Adjusted EPS of $0.28 beat the estimate of $0.27. The company lowered the FY23 net sales outlook to $2.145 billion-$2.175 billion. Despite the mixed results, CHS shares are trading higher by 4.49%.
August 29, 2023 | 3:12 pm
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Chico's FAS reported mixed Q2 results with a revenue miss but an EPS beat. The company also lowered its FY23 net sales outlook. Despite this, CHS shares are trading higher.
Chico's FAS reported lower than expected Q2 revenue and lowered its FY23 net sales outlook, which could be seen as negative signals. However, the company beat EPS estimates, which is a positive signal. Despite the mixed results, the market reacted positively with CHS shares trading higher. This could be due to the EPS beat and the fact that the lowered sales outlook is still within the consensus range.
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