Chico’s FAS Inc. (NYSE:CHS) reported its results for the third quarter. Net income for Chico’s FAS Inc. fell to $26.5 million (16 cents per share) vs. $28.8 million (16 cents per share) a year earlier. This is a decline of 8.1% from the year earlier quarter. Revenue rose 11.5% to $538.5 million from the year earlier quarter. CHS reported adjusted net income of 18 cents per share. By that measure, the company fell short of mean estimate of 20 cents per share. Analysts were expecting revenue of $548.9 million.
Competitors to Watch: Coldwater Creek Inc. (NASDAQ:CWTR), Limited Brands, Inc. (NYSE:LTD), Ann Inc (NYSE:ANN), The Talbots, Inc. (NYSE:TLB), Christopher & Banks Corp. (NYSE:CBK), Ascena Retail Group Inc (NASDAQ:ASNA), Charming Shoppes, Inc. (NASDAQ:CHRS), New York & Company, Inc. (NYSE:NWY), The Cato Corporation (NYSE:CATO), and Body Central Acquisition Corp. (NASDAQ:BODY).
DSW Inc. (NYSE:DSW) reported net income above Wall Street’s expectations for the third quarter. Net income for DSW Inc. rose to $53.7 million (75 cents per share). The company reported a loss of $3.3 million (16 cents per share) in the year-ago quarter. Revenue rose 8.5% to $530.7 million from the year earlier quarter. DSW reported adjusted net income of 88 cents per share. By that measure, the company beat the mean estimate of 80 cents per share. Analysts were expecting revenue of $531.7 million.
“Our strong performance continued into the fall season, further demonstrating our increasing relevance as a destination for great brands, fashion and value in the footwear industry,” stated Mike MacDonald , President and Chief Executive Officer, DSW Inc. “During the quarter, we generated an 8.5% increase in total sales and a 5.2% increase in comparable sales, for a two-year comparable sales gain of 15% and a three year comparable sales increase of 24%. DSW remained a top choice for women’s footwear, led by a strong performance in boots. We continued to capitalize on sales opportunities in men’s and accessories – both of which remained our fastest growth categories. Our new store performance exceeded our expectations and e-commerce sales remained robust. We were also pleased with our leased business division, which recorded solid sales growth. Our balance sheet remained strong at quarter end even as we invested in our long-term growth and returned value to our shareholders in the form of both a regular quarterly cash and special cash dividend. We are confident in our strategies and continue to expect fiscal 2011 to represent a strong year of growth, and as a result we have increased our annual guidance.”
Competitors to Watch: Collective Brands Inc. (NYSE:PSS), Genesco Inc. (NYSE:GCO), Foot Locker, Inc. (NYSE:FL), Shoe Carnival, Inc. (NASDAQ:SCVL), Bakers Footwear Group Inc (BKRS), The Finish Line, Inc. (NASDAQ:FINL), Shoe Pavilion, Inc. (SHOEQ), and Prima Moda S.A. (NYSE:PMA).