The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
Total sales grew 11.5% to $537.2 million.
Women’s specialty apparel retailer Chico’s FAS Inc. sewed up a good first quarter.
For the quarter ended April 30, Chico’s reported:
- Web revenue, which the company identifies as direct-to-consumer sales, of $8.0 million, a 16% increase from $6.9 million in the prior year quarter.
- Total sales of $537.2 million, up by 11.5% from $481.6 million.
- Comparable-store sales increased 14.9%.
- Net income of $45.9 million, a 29.7% increase compared with net income of $35.4 million in Q1 of 2010.
Jenn McClain, director of e-commerce marketing at Chico’s, will be speaking at the Internet Retailer Conference & Exhibition 2011 in San Diego in June in a session titled “Discovering, defining and reaching hidden market segments”.