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CHS

Chico's

$4.19

0.445 (11.88%)

07:36
11/26/19
11/26
07:36
11/26/19
07:36

Chico's anticipates a mid single-digit decline in total net sales in FY19

In FY19 the company anticipates a mid single-digit decline in total net sales and consolidated comparable sales; expects gross margin as a percent of net sales to be down 150 to 200 basis points consistent with previous guidance, which now includes our consideration of incremental costs in the second half of fiscal 2019 associated with tariffs; anticipates SG&A expenses to be down approximately $10M, reflecting ongoing cost management, consistent with previous guidance; expects capital expenditures to be approximately $40M-$45M, primarily driven by store reinvestments and technology enhancements. The Company sees FY19 income tax provision of approximately $2M-$3M, which excludes accelerated depreciation related to our fleet optimization plan and Severance Charges in connection with our revised organizational structure.

  • 26

    Nov

CHS Chico's
$4.19

0.445 (11.88%)

11/28/18
RBCM
11/28/18
DOWNGRADE
RBCM
Sector Perform
Chico's downgraded to Sector Perform from Outperform at RBC Capital
11/29/18
RBCM
11/29/18
DOWNGRADE
Target $4.5
RBCM
Sector Perform
Chico's downgraded to Sector Perform at RBC Capital on earnings miss and outlook
As reported earlier, RBC Capital analyst Brian Tunick downgraded Chico's to Sector Perform from Outperform and lowered his price target to $4.50 from $10. The analyst cites the company's latest earnings miss and guide-down for Q4, saying that while he had initially anticipated its cost-savings programs to correct the volatility of its portfolio, the financial uncertainty has become "harder to ignore". Tunick adds that he anticipates ongoing margin pressure into 2019 on negative comps and omnichannel headwinds.
11/29/18
MKMP
11/29/18
NO CHANGE
Target $4.5
MKMP
Neutral
Chico's price target lowered to $4.50 from $8.00 at MKM Partners
MKM Partners analyst Roxanne Meyer lowered her price target on Chico's to $4.50 and kept her Neutral rating. The analyst notes that in spite of the management's efforts to improve costs and productivity, Q3 results and Q4 outlook suggest that 2018 will go down as a year of missteps in terms of product and branding. Meyer further warns that 2019 could be also hampered by the delays in Chico's product realignment until the second half of 2019 and continued near-term gross margin pressure from elevated shipping costs.
01/15/19
MKMP
01/15/19
NO CHANGE
Target $4.5
MKMP
Neutral
MKM Partners looking for stabilization at Chico's
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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BKYI

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