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Fly News Breaks for January 15, 2019
CHS
Jan 15, 2019 | 08:12 EDT
MKM Partners analyst Roxanne Meyer kept her Neutral rating and $4.50 price target on Chico's after meeting with its management at the ICR conference. The analyst notes that she expects continued focus on operating efficiency helping to limit the downside risks, but adds that while the company's outlook last week suggested slightly better comps, its higher markdowns are pressuring margins. Meyer further notes that the gross margin improvement is likely to be slow as Chico's continues its promotional strategies in the first half of the year.
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