Chico's FAS jumps after raising 2022 sales, profit forecasts

Chico's FAS

31/08/2022 13:15

** Shares in apparel retailer Chico's FAS Inc  CHS.N  up ~1%
at $6.49 in premarket trading
    ** Company raises full-year 2022 sales and profit forecast
 urn:newsml:reuters.com:*:nPn36tLb4a
    ** CHS now expects 2022 net sales between $2.14 bln and
$2.17 bln, compared to prior forecast of $2.13 bln to $2.16 bln
    ** Company also sees full-year EPS between 79 cents and 87
cents per share, up from previous forecast of 64 cents and 74
cents 
    ** CHS expects Q3 net sales of $495 mln to $510 mln
    ** Company's Q2 sales rose 18.4% to $558.7 mln and posts EPS
of 34 cents
    ** However, in Q2 inventories totaled $338.8 mln, compared
to $202.1 million, a year earlier 
    ** Up to Tuesday's close, stock had risen ~19% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))