This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Chico's FAS' CEO Discusses Q2 2012 Results- Earnings Call Transcript

This trend right product also drove exceptional new store performance. Chico’s has opened 13 new stores this year, including six outlets, and overall we’re meeting or beating our sales expectations. Product-wise, I will add that we’re very excited about the sale potential of our So Slimming technology introduced last fall. Our So Slimming jeans have been such a huge success that we’ve already expanded the So Slimming line to additional bottoms in our fall collections. Congratulations to Cindy Murray and her team for this great quarter.

White House Black Market’s momentum continued in the second quarter with a 2.3% comparable sales increase on top of a 14.9% last year, for at two-year stack of 17.2% and a three-year stack of 30%. This is truly one of the best performances in specialty retail. Our second quarter total sales are up 9.8% for White House, reflecting 39 new stores this year over year as we accelerate our capital investment in this brand. As we have discussed in our planning assumptions, we knew it would be a challenge to cycle last year due to the launch of the work kit and the polished casual assortment which drove 14.9% comparable sales increase in 2011, and we are pleased with our results in this quarter.

As I mentioned on our first quarter call, we entered the second quarter for White House Black Market a bit lean in inventory, having delivered above-plan total sales performance of 18.2% in the first quarter. We opened 31 stores to date this year, including 10 outlets. These new stores are exceeding our sales expectations and were our first priority as we allocated total inventory since first year sales are a major indicator of the long-term success for a given location. So in all likelihood, we left more than a few comparable sales dollars on the table. As I have previously stated, that’s a good problem to have and I’m pleased at how well our assortments continue to resonate with new and existing White House Black Market customers.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,351.38 +293.03 1.82%
S&P 500 1,948.86 +35.01 1.83%
NASDAQ 4,749.9790 +113.8740 2.46%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs