Chico’s cuts Q4 EPS view to (2c)-0c from 7c-10c, one estimate 9c

Cuts Q4 revenue view to $505M-$515M from $535M-$555M, one estimate $547M. CEO Langenstein commented, "Our customer led, product obsessed, digital first, operationally excellent strategy is working. Our brand portfolio continues to deliver strong results and we are confident in our strategic direction as we close out an exceptional year for our company. For the nine-week holiday period ending December 31, 2022, total net sales grew 4.9% over last year and comparable sales grew 5.3% over last year. Chico’s sales remained healthy, and sales trends at Soma continued to improve quarter over quarter. As we entered December, White House Black Market sales softened as we had sold through newer assortments and were left with leaner inventories and styles that did not match up with customer demand. We are on track to post low-to-mid-single-digit total company comparable sales growth for the fourth quarter on top of 29% comparable sales growth in last year’s fourth quarter."