Chico's FAS, Inc. (Chico's),The Company is a specialty retailer of private label, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items. The Company operates 925 women’s specialty stores, including stores in 47 states, the District of Columbia, the U.S. Virgin Islands and Puerto Rico operating under the Chico’s, White House | Black Market, Soma by Chico’s and Fitigues names. The Company has 558 Chico’s front-line stores, 34 Chico’s outlet stores, 257 White House | Black Market front-line stores, 16 White House | Black Market outlet stores, 51 Soma by Chico’s stores, 8 Fitigues front-line stores and 1 Fitigues outlet store.

                              ·Revenues rose 17.2% to $1.65 billion for the 53-week year
                              ·Fourth quarter net income $18 million; year to date $167 million
                              ·Company opened 145 net new stores and relocated/expanded 64 existing stores during year for square footage increase of over 30%
                              ·Company announces 15% selling square footage growth rate plan for fiscal 2008; updates fiscal 2007 new store opening plan
                              ·Company to close Fitigues brand in first quarter of fiscal 2007; records $8.6 million pretax impairment charge in fourth quarter, or $.03 per diluted share

Chico’s FAS, Inc. (NYSE: CHS) today announced its financial results for the fourth quarter and fiscal year ended February 3, 2007. 

For the fourteen-week fourth quarter ended February 3, 2007, net sales increased 18.8% to $446 million from $376 million for the thirteen-week fourth quarter ended January 28, 2006. Net income was $18 million, or $0.10 a diluted share, compared to net income of $44 million, or $0.24 a diluted share in the prior year’s fourth quarter. During the fourth quarter of fiscal 2006, the Company recorded pretax impairment related expenses totaling approximately $8.6 million, or approximately $.03 per diluted share, related to the planned closure of its Fitigues brand operations in the first quarter of fiscal 2007. Excluding the $.03 per diluted share charge related to the planned closure of the Fitigues brand, the Company’s earnings were in line with its revised fourth quarter expectations. Total stock-based compensation expense for the fourth quarter of fiscal 2006 (which reflects the impact of the Company’s adoption of Statement of Financial Accounting Standard No. 123R (“SFAS 123R”), effective as of January 29, 2006) increased approximately $2.6 million, net of tax, or $.01 per diluted share over the prior year’s fourth quarter. Comparable store sales for the Company-owned stores decreased 2.0% for the fourteen-week fourth quarter ended February 3, 2007 compared to the same fourteen-week period last year, which was consistent in both the Chico’s and WH|BM brands. 
For the fifty-three week fiscal year ended February 3, 2007 (fiscal 2006), net sales increased 17.2% to $1.65 billion from $1.40 billion for the fifty-two week fiscal year ended January 28, 2006 (fiscal 2005). Net income totaled $167 million, or $0.93 a diluted share, compared to net income of $194 million, or $1.06 a diluted share in the prior period. Total stock-based compensation expense for the current fiscal year increased approximately $12.6 million, net of tax, or $.07 per diluted share over the prior fiscal year. Comparable store sales for the Company-owned stores increased 2.1% for fiscal 2006 compared to the same fifty-three week period last year. For fiscal 2006, the Chico’s brand same store sales were essentially flat, while the same store sales for the WH|BM brand increased by approximately 11%. 
 

Tuesday, March 06, 2007
Chico’s FAS, Inc. Reports February Sales
Chico’s FAS, Inc. (NYSE: CHS) today reported February sales results for the four-week period ended March 3, 2007, increased 15.0% to $113.6 million from $98.7 million reported for the four-week period ended February 25, 2006. Comparable store sales for the Company-owned stores decreased 4.3% for the four-week period ended March 3, 2007 compared to the same four-week period last year ending March 4, 2006.
Additional details on February sales are as follows:

February Sales                                              Percent Increase/(Decrease)

(dollars in millions)                                         Comparable Store Sales

Fiscal 2007      Fiscal 2006      Total Sales      Fiscal Basis (a)      Comparable Basis (a)

$113.6                $98.7                15.0%                1.0%                          (4.3)%

(a) “Fiscal Basis” compares fiscal 2007 to fiscal 2006. “Comparable Basis” compares fiscal 2007 to the identical weeks last year. Each period includes the same number of days.