The entrance to Chico's in New Orleans. (Photo by: Jeffrey Greenberg/Universal Images Group via ... [+] Getty Images)Universal Images Group via Getty Images In a deal valued at $1 billion priced at $7.60 per share, private equity firm Sycamore Partners just acquired special fashion retailer Chico’s FAS, including the flagship Chico’s brand along with White House Black Market and Soma intimates.The Chico’s brands will be merged under Sycamore’s recently formed Knitwell Group that includes the Ann Taylor and ...

FORT MYERS, Fla., Jan. 5, 2024 /PRNewswire/ -- Chico's FAS, Inc. ("Company" or "Chico's FAS,"NYSE: CHS) today announced the completion of its acquisition by Sycamore Partners, a private equity firm specializing in retail, consumer, and distribution-related investments, for $7.60 per share, in an all-cash transaction valued at approximately $1 billion. "Joining the Sycamore portfolio of leading retail brands marks an important milestone for Chico's FAS and continues our journey as a customer-led, product-obs ...

Thirteen Weeks Ended October 28, 2023 Compared to the Thirteen Weeks Ended October 29, 2022 | --- | --- | --- | --- | --- | --- | --- | |---------------------|-------|---------|-----------------------------------------|-----------------------|---------------|------------| | | | October | Thirteen 28, 2023 \n(dollars in | Weeks \n millions) | Ended October | 29, 2022 | | Chico's | $ | 252 | 49.9 % | $ | 255 | 49.3 % | | WHBM | | 148 | 29.2 | | 157 | 30.4 | | Soma | | 105 | 20.9 | | 106 | 20.3 | | Total Net S ...

[PART I – Financial Information](index=3&type=section&id=PART%20I%20%E2%80%93%20Financial%20Information) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company presents its unaudited condensed consolidated financial statements for the periods ended July 29, 2023 [Condensed Consolidated Statements of Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Net income increased to $59.3 million for the quarter, driven by a significant non-cash tax benefit Condensed Consolidated Statements of Income (Thirteen and Twenty-Six Weeks Ended) | Indicator | Thirteen Weeks Ended July 29, 2023 | Thirteen Weeks Ended July 30, 2022 | Twenty-Six Weeks Ended July 29, 2023 | Twenty-Six Weeks Ended July 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $545,126 | $558,720 | $1,079,869 | $1,099,635 | | **Gross Margin** | $216,900 | $231,514 | $441,909 | $448,079 | | **Income from Operations** | $46,544 | $58,217 | $99,880 | $103,624 | | **Net Income** | $59,324 | $41,961 | $99,230 | $76,893 | | **Diluted EPS** | $0.49 | $0.34 | $0.81 | $0.62 | [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet reflects a strong liquidity position, significantly reduced long-term debt, and increased shareholders' equity Key Balance Sheet Items (in thousands) | Account | July 29, 2023 (Unaudited) | January 28, 2023 (Audited) | July 30, 2022 (Unaudited) | | :--- | :--- | :--- | :--- | | **Cash and cash equivalents** | $129,015 | $153,377 | $157,233 | | **Inventories** | $300,151 | $276,840 | $338,761 | | **Total Current Assets** | $514,301 | $515,363 | $571,502 | | **Total Assets** | $1,235,946 | $1,187,841 | $1,232,513 | | **Long-term debt** | $24,000 | $49,000 | $99,000 | | **Total Liabilities** | $820,689 | $852,208 | $934,636 | | **Total Shareholders' Equity** | $415,257 | $335,633 | $297,877 | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow decreased year-over-year due to inventory spending, while financing cash use increased from debt repayment Cash Flow Summary (Twenty-Six Weeks Ended, in thousands) | Activity | July 29, 2023 | July 30, 2022 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $42,629 | $75,999 | | **Net cash used in investing activities** | ($16,042) | ($25,486) | | **Net cash used in financing activities** | ($50,949) | ($8,385) | | **Net (decrease) increase in cash** | ($24,362) | $42,128 | | **Cash and Cash Equivalents, End of period** | $129,015 | $157,233 | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail revenue by brand, tax rate reconciliation, debt structure, and share repurchase program updates Revenue by Brand (Twenty-Six Weeks Ended July 29, 2023) | Brand | Revenue (in thousands) | % of Total | | :--- | :--- | :--- | | Chico's | $547,867 | 50.7% | | WHBM | $303,518 | 28.1% | | Soma | $228,484 | 21.2% | | **Total Net Sales** | **$1,079,869** | **100.0%** | - The effective tax rate for the 13 weeks ended July 29, 2023 was a **28.6% benefit**, primarily due to a **$25.6 million non-cash discrete benefit** from the reversal of a valuation allowance on deferred tax assets[38](index=38&type=chunk) - As of July 29, 2023, the company had **$24.0 million in net borrowings** outstanding under its Credit Agreement, with an additional borrowing capacity of approximately **$265.1 million**[31](index=31&type=chunk)[84](index=84&type=chunk) - In June 2023, the company authorized a new **$100 million share repurchase program**, with the full amount available for future repurchases as of July 29, 2023[68](index=68&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=22&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses brand performance, market share gains, a strong balance sheet, and the financial outlook for fiscal 2023 [Executive Overview](index=22&type=section&id=Executive%20Overview) The company achieved market share gains across all brands and maintained a strong liquidity position despite a slight sales decline - Q2 total comparable sales **decreased 3.0% YoY** but **increased 16.5%** on a two-year stacked basis[89](index=89&type=chunk) - All three brands (Chico's, WHBM, and Soma) **gained market share** in their respective target demographics during the second quarter[89](index=89&type=chunk) - The company ended Q2 with **$150.7 million in cash and marketable securities**, total liquidity of **$385.8 million**, and long-term debt at **$24.0 million**[89](index=89&type=chunk) [Fiscal 2023 Third Quarter and Full-Year Outlook](index=23&type=section&id=Fiscal%202023%20Third%20Quarter%20and%20Full-Year%20Outlook) The company provides its financial outlook for Q3 and the full fiscal year 2023, expecting continued sales and margin performance Fiscal 2023 Third Quarter Outlook | Metric | Expected Range | | :--- | :--- | | Consolidated net sales | $505M - $525M | | Gross margin rate | 38.5% - 39.0% | | SG&A as % of sales | 35.1% - 35.6% | | Earnings per diluted share | $0.08 - $0.12 | Fiscal 2023 Full-Year Outlook | Metric | Expected Range | | :--- | :--- | | Consolidated net sales | $2,145M - $2,175M | | Gross margin rate | 38.5% - 38.8% | | SG&A as % of sales | 33.0% - 33.3% | | Earnings per diluted share | $0.87 - $0.95 | [Results of Operations](index=26&type=section&id=Results%20of%20Operations) Net sales decreased slightly for the quarter and half-year, while gross margin fell in Q2 but improved for the 26-week period Comparable Sales vs. Prior Year (Thirteen Weeks Ended) | Brand | Q2 2023 vs Q2 2022 | | :--- | :--- | | Chico's | (2.5)% | | WHBM | (5.7)% | | Soma | (0.5)% | | **Total Company** | **(3.0)%** | Comparable Sales vs. Prior Year (Twenty-Six Weeks Ended) | Brand | YTD 2023 vs YTD 2022 | | :--- | :--- | | Chico's | 1.1% | | WHBM | (6.9)% | | Soma | (1.5)% | | **Total Company** | **(1.8)%** | - Q2 gross margin **decreased to 39.8% from 41.4% YoY**, primarily due to higher occupancy costs and lower average unit retail[126](index=126&type=chunk) - YTD gross margin **improved slightly to 40.9% from 40.7% YoY**, driven by lower inbound freight costs and higher average unit retail[151](index=151&type=chunk) [Liquidity and Capital Resources](index=28&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained strong liquidity, significantly reduced long-term debt, and lowered inventory levels from the prior year - **Long-term debt was reduced to $24.0 million** at the end of Q2 2023, down from $99.0 million at the end of Q2 2022[133](index=133&type=chunk) - Inventories totaled **$300.2 million, an 11.4% decrease** from $338.8 million in the prior-year quarter, primarily due to lower in-transit inventories[134](index=134&type=chunk) - Net cash from operating activities for the first half of 2023 was **$42.6 million**, compared to $76.0 million in the same period last year[13](index=13&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=34&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's market risk exposure, primarily from interest rate fluctuations, has not materially changed since year-end - The company is exposed to interest rate risk through its Credit Agreement; a **100 basis point increase** in market rates would increase interest expense by about **$0.9 million**[161](index=161&type=chunk) - The marketable securities portfolio as of July 29, 2023, consisted of **$21.7 million**, primarily in U.S. government agencies and corporate bonds[41](index=41&type=chunk)[161](index=161&type=chunk) [Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal controls - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of July 29, 2023[33](index=33&type=chunk) - **No material changes** to internal control over financial reporting occurred during the quarter[162](index=162&type=chunk) [PART II – Other Information](index=35&type=section&id=PART%20II%20%E2%80%93%20Other%20Information) [Legal Proceedings](index=35&type=section&id=Item%201.%20Legal%20Proceedings) The company is not party to any material legal proceedings outside of the normal course of business - The company reports **no material legal proceedings** other than those arising in the normal course of business[50](index=50&type=chunk)[54](index=54&type=chunk) [Risk Factors](index=36&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's 2022 Annual Report - **No material changes** have been made to the risk factors disclosed in the 2022 Annual Report on Form 10-K[201](index=201&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=37&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company details its share repurchase activity, including the authorization of a new $100 million program in June 2023 - In June 2023, the Board authorized a new share repurchase program for up to **$100 million** and cancelled the prior program[133](index=133&type=chunk)[185](index=185&type=chunk) Share Repurchases (Thirteen Weeks Ended July 29, 2023) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Apr 30 - May 27, 2023 | 4,096 | $4.96 | | May 28 - Jul 1, 2023 | 30,700 | $5.28 | | Jul 2 - Jul 29, 2023 | — | — | [Other Information](index=38&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated a Rule 10b5-1 trading arrangement during the reporting period - **No directors or officers** adopted or terminated a Rule 10b5-1 trading arrangement during the third quarter[34](index=34&type=chunk) [Exhibits](index=39&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including compensation plans and required officer certifications - Exhibits filed include compensation agreements, the Amended and Restated 2020 Omnibus Stock and Incentive Plan, and **Sarbanes-Oxley Act certifications** from the CEO and CFO[17](index=17&type=chunk) [Signatures](index=40&type=section&id=Signatures) The report is duly signed by the Chief Executive Officer and Chief Financial Officer on August 30, 2023 - The Form 10-Q was signed by **CEO Molly Langenstein and CFO David M. Oliver** on August 30, 2023[188](index=188&type=chunk)

Chico's FAS, Inc. (NYSE:CHS) Q2 2023 Earnings Conference Call August 29, 2023 8:00 AM ET Â Company Participants Julie MacMedan - Head of IR Molly Langenstein - President and CEO David M. Oliver - EVP, CFO and CAO Conference Call Participants Dana Telsey - Telsey Advisory Group Jeff Lick - B. Riley Securities Marni Shapiro - The Retail Tracker Janet Kloppenburg - JJK Research Operator Welcome to Chico's FAS Second Quarter 2023 Conference Call and Webcast. All participants will be in listenonly mode. Please n ...

Chico's FAS (CHS) Q2 2024 Earnings Call August 29, 2023 08:00 AM ET Company Participants Julie MacMedan - Head of Investor RelationsMolly Langenstein - CEO, President & DirectorDavid Oliver - EVP & CFODana Telsey - CEO and Chief Research OfficerJeff Lick - Managing Director - Equity ResearchMarni Shapiro - Founding PartnerJanet Kloppenburg - President Operator Welcome to Chico's FAS Second Quarter 2023 Conference Call and Webcast. All participants will be in listen only mode. Please note that this call is b ...

Financial Performance - Q2 2023 net sales reached $545.1 million [7], compared to $558.7 million in Q2 2022 [24] - Comparable sales decreased by 3.0% year-over-year, but showed a two-year stack increase of 16.5% [7] - The company reported an operating margin of 8.5% [7] - Gross margin was 39.8% [23], compared to 41.4% in Q2 2022 [24] - Diluted EPS was $0.49, with an adjusted diluted EPS of $0.28, excluding a $0.21 non-cash tax benefit [9, 120] - Total liquidity at the end of Q2 2023 was $386 million [23] Brand Performance - Soma's net sales increased by 2.1% year-over-year [33, 118] - Chico's brand net sales were $274.2 million [27] - WHBM (White House Black Market) net sales were $150.0 million [127] Digital and Customer Engagement - Digital penetration accounted for 46% of total net sales in FY2022 [46] - Chico's brand experienced a 3.9% year-over-year customer growth [124] - Soma customer count decreased 0.9% year-over-year [33] Strategic Priorities and Outlook - The company's strategic pillars include being customer-led, product-obsessed, digital-first, and operationally excellent [114, 115] - Q3 2023 consolidated net sales are projected to be between $505 million and $525 million [71] - Full-year 2023 consolidated net sales are projected to be between $2.145 billion and $2.175 billion [71] - Capital and cloud-based expenditures are expected to be between $75 million and $85 million for the full year 2023 [73]

[PART I – Financial Information](index=3&type=section&id=PART%20I%20%E2%80%93%20Financial%20Information) This section provides the unaudited condensed consolidated financial statements, management's discussion and analysis, and disclosures on market risk and internal controls for the period [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements, including income, balance sheets, equity, and cash flows, highlighting improved net income and a strengthened balance sheet [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) For the thirteen weeks ended April 29, 2023, the company reported net income of $39.9 million, or $0.32 per diluted share, compared to $34.9 million, or $0.28 per diluted share, for the same period in 2022 Condensed Consolidated Statements of Income (Q1 2023 vs Q1 2022) | Indicator | Thirteen Weeks Ended April 29, 2023 (in $ thousands) | Thirteen Weeks Ended April 30, 2022 (in $ thousands) | | :--- | :--- | :--- | | Net Sales | $534,743 thousand | $540,915 thousand | | Gross Margin | $225,009 thousand (42.1%) | $216,565 thousand (40.0%) | | Income from Operations | $53,336 thousand | $45,407 thousand | | Net Income | $39,906 thousand | $34,932 thousand | | Diluted EPS | $0.32 | $0.28 | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of April 29, 2023, the company's balance sheet showed total assets of $1.174 billion, with reduced long-term debt and increased shareholders' equity Key Balance Sheet Items (in thousands) | Account | April 29, 2023 (Unaudited) | January 28, 2023 (Audited) | April 30, 2022 (Unaudited) | | :--- | :--- | :--- | :--- | | Cash and cash equivalents | $107,734 | $153,377 | $104,131 | | Inventories | $293,776 | $276,840 | $325,565 | | Total Current Assets | $476,792 | $515,363 | $495,457 | | Total Assets | $1,174,078 | $1,187,841 | $1,160,601 | | Long-term debt | $24,000 | $49,000 | $99,000 | | Total Liabilities | $821,247 | $852,208 | $907,823 | | Total Shareholders' Equity | $352,831 | $335,633 | $252,778 | [Condensed Consolidated Statements of Shareholders' Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Shareholders'%20Equity) For the thirteen weeks ended April 29, 2023, total shareholders' equity increased due to net income, partially offset by common stock repurchases - Key activities affecting shareholders' equity in Q1 2023 included net income of **$39.9 million**, stock repurchases and tax withholdings of **$26.0 million**, and share-based compensation of **$3.1 million**[1](index=1&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities significantly improved to $11.6 million in Q1 2023, while investing and financing activities used cash, primarily for debt repayment and share repurchases Cash Flow Summary (in thousands) | Cash Flow Activity | Thirteen Weeks Ended April 29, 2023 | Thirteen Weeks Ended April 30, 2022 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $11,641 | $(183) | | Net cash used in investing activities | $(6,420) | $(2,571) | | Net cash used in financing activities | $(45,643) | $(8,220) | | Net decrease in cash and cash equivalents | $(45,643) | $(10,974) | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes provide detailed disclosures on significant accounting policies and financial statement line items, covering revenue, leases, compensation, and debt Disaggregated Revenue by Brand (Q1 2023 vs Q1 2022) | Brand | Q1 2023 Net Sales (in $ thousands) | % of Total | Q1 2022 Net Sales (in $ thousands) | % of Total | | :--- | :--- | :--- | :--- | :--- | | Chico's | $273,650 | 51.2% | $264,466 | 48.9% | | WHBM | $153,470 | 28.7% | $169,029 | 31.2% | | Soma | $107,623 | 20.1% | $107,420 | 19.9% | | **Total** | **$534,743** | **100.0%** | **$540,915** | **100.0%** | - As of April 29, 2023, total operating lease liabilities were **$521.9 million**, with a weighted average remaining lease term of **4.2 years** and a weighted average discount rate of **5.6%**[13](index=13&type=chunk) - In Q1 2023, the company repurchased **3.25 million shares** for **$19.8 million** As of quarter-end, **$35.4 million** remained available under the share repurchase program[107](index=107&type=chunk) - As of April 29, 2023, the company had **$24.0 million** in borrowings outstanding under its Credit Agreement, with approximately **$263.0 million** of additional borrowing capacity available[33](index=33&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 performance, highlighting increased net income, gross margin expansion, and a strengthened balance sheet, alongside the fiscal 2023 outlook [Executive Overview](index=20&type=section&id=Executive%20Overview) This overview describes Chico's FAS as a company of three unique brands utilizing an integrated omnichannel strategy, guided by four strategic pillars, with strong Q1 2023 highlights - The company's strategy is focused on **four pillars**: (1) **customer led**, (2) **product obsessed**, (3) **digital first**, and (4) **operationally excellent**[148](index=148&type=chunk) - Q1 2023 highlights include a **14.3% increase** in net income per diluted share, a **210 basis point** gross margin expansion, and a comparable sales increase of **40.0%** on a two-year stacked basis[119](index=119&type=chunk) [Fiscal 2023 Outlook](index=21&type=section&id=Fiscal%202023%20Outlook) The company provides its financial outlook for the second quarter and the full fiscal year 2023, anticipating consolidated net sales between $2,175 million and $2,205 million for the full year Fiscal 2023 Full-Year Outlook | Metric | Expected Range | | :--- | :--- | | Consolidated Net Sales | $2,175M - $2,205M | | Gross Margin Rate | 38.4% - 38.8% | | SG&A as % of Net Sales | 32.6% - 33.0% | | Earnings per Diluted Share | $0.70 - $0.82 | | Capital Expenditures | $80M - $90M | Fiscal 2023 Second Quarter Outlook | Metric | Expected Range | | :--- | :--- | | Consolidated Net Sales | $545M - $565M | | Gross Margin Rate | 39.0% - 39.5% | | Earnings per Diluted Share | $0.25 - $0.30 | [Results of Operations](index=24&type=section&id=Results%20of%20Operations) In Q1 2023, net sales decreased by 1.1% to $534.7 million, with varied comparable sales performance across brands, while gross margin significantly improved Q1 2023 Comparable Sales vs. Q1 2022 | Brand | Comparable Sales % Change | | :--- | :--- | | Chico's | 4.9% | | WHBM | (8.0)% | | Soma | (2.5)% | | **Total Company** | **(0.6)%** | - Gross margin for Q1 2023 was **42.1%**, a **210-basis-point increase** from the prior year, primarily due to higher average unit retail, lower inbound freight costs, and corporate expense savings[135](index=135&type=chunk) [Liquidity and Capital Resources](index=25&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained a strong liquidity position in Q1 2023 with $131.0 million in cash, significantly reducing long-term debt and decreasing inventories - Ended Q1 2023 with **$131.0 million** in cash and marketable securities, compared to **$104.1 million** in Q1 2022[138](index=138&type=chunk) - Long-term debt was reduced to **$24.0 million**, down from **$99.0 million** in the prior-year quarter, following a **$25.0 million** payment in Q1 2023[138](index=138&type=chunk) - Inventories totaled **$293.8 million**, a **9.8% decrease** from the prior year, mainly due to lower in-transit inventories[139](index=139&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=30&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's market risk exposure, primarily from interest rate changes on its debt and marketable securities, has not materially changed since January 28, 2023 - The company is exposed to market risk from changes in interest rates on its Credit Agreement and marketable securities[86](index=86&type=chunk) - A **100 basis point increase** in market interest rates would increase annual interest expense by approximately **$1.0 million** over the remaining term of the loan[86](index=86&type=chunk) [Item 4. Controls and Procedures](index=30&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of April 29, 2023, with no material changes in internal control over financial reporting during the quarter - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were **effective** as of the end of the period[87](index=87&type=chunk) - No changes in internal controls over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[88](index=88&type=chunk) [PART II – Other Information](index=31&type=section&id=PART%20II%20%E2%80%93%20Other%20Information) This section details legal proceedings, updates on risk factors, share repurchase activities, and a list of filed exhibits [Item 1. Legal Proceedings](index=31&type=section&id=Item%201.%20Legal%20Proceedings) The company reports that it is not currently a party to any material legal proceedings outside of those arising in the normal course of business - The company is not currently a party to any material legal proceedings other than claims and lawsuits arising in the normal course of business[115](index=115&type=chunk) [Item 1A. Risk Factors](index=31&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the fiscal year ended January 28, 2023 - There have been no material changes to the risk factors described in the 2022 Annual Report on Form 10-K[91](index=91&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=31&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details share repurchase activities, noting the purchase of **4.25 million shares** at an average price of **$6.10**, with **$35.4 million** remaining for future repurchases Share Repurchase Activity (Q1 2023) | Period | Total Shares Purchased | Average Price Paid per Share | Shares Purchased as Part of Publicly Announced Plan | | :--- | :--- | :--- | :--- | | Jan 29 - Feb 25, 2023 | — | $— | — | | Feb 26 - Apr 1, 2023 | 4,250,308 | $6.10 | 3,250,000 | | Apr 2 - Apr 29, 2023 | — | $— | — | | **Total** | **4,250,308** | **$6.10** | **3,250,000** | - As of the end of Q1 2023, approximately **$35.4 million** remained available for repurchase under the company's publicly announced plan[92](index=92&type=chunk) [Item 6. Exhibits](index=32&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications and financial statements in Inline XBRL format - Filed exhibits include CEO and CFO certifications pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act, and financial data in Inline XBRL format[103](index=103&type=chunk)

Chico's FAS, Inc. (NYSE:CHS) Q1 2023 Earnings Conference Call June 6, 2023 8:00 AM ET Julie MacMedan - Head of IR PJ Guido - CFO Dana Telsey - Telsey Group Operator I would now like to turn the call over to the Company's Head of Investor Relations, Julie MacMedan. Ms. MacMedan, please go ahead. Good morning, and welcome to the Chico's FAS first quarter 2023 conference call and webcast. For reference, our earnings release can be found on our website at www.chicosfas.com under Press Releases on the Investor R ...

Table of Contents We capitalize implementation costs in cloud computing arrangement ("CCA") service contracts. Unamortized capitalized costs were $26.8 million as of January 28, 2023 and $15.6 million as of January 29, 2022. Accumulated amortization was $9.2 million as of January 28, 2023 and $2.6 million as of January 29, 2022. Expense related to capitalized CCA contracts for fiscal 2022, 2021 and 2020 was $8.5 million, $3.1 million and $1.3 million, respectively. Operating Leases Table of Contents Indefin ...