(Filed Under Financial and General Interest News). Chico’s FAS Inc. reported a comparable store sales decline of 13 percent during their fourth quarter period ended January 31, 2009 compared to the same period ended February 2, 2008.

Chico brand same store sales decreased by approximately 17 percent, and White House/Black Market’s decreased by five percent. Net sales during the quarter were $373.4 million compared to $409.3 million last year, a net loss of $40.5 million, or 23 cents per diluted share. Year-end inventories decreased fifteen percent per selling square foot. During the quarter, the company also closed thirteen stores, opened six and expanded/relocated two. During fiscal year 2008, the company opened a total of 62 new stores, closed 24 and expanded/relocated 32.

Net sales during the quarter for the company’s direct to consumer channel were $22.3 million, an 8.8 percent increase from last year’s $20.5 million. The company reported “high sales across all three brands” in this area, and attributed the increase to “continued growth in customer acceptance of Soma and White House|Black Market brands,” as well increased traffic in direct to consumer channels and the company’s implementation of website improvements. They plan to continue to focus efforts on their Web site sales.

Chico’s FAS Inc. currently operates 1,074 women’s specialty stores in the United States, U.S. Virgin Islands and Puerto Rico under the Chico’s, White House| Black Market and Soma Intimates names.

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Published 03-03-2009 by Amanda Torres Price