Tue, Jun. 30, 8:08 AM
- The Department of Labor has outlined a new wage proposal that could have broad implications for the retail and restaurant industry.
- The measure increases the threshold of the level where mandatory overtime wages kick in to $970 a week ($50.44K/yr estimated) from $455 a week ($23.66K/yr estimated).
- The change is set to impact overtime pay for 5M U.S. workers.
- Analysts expect the issue to be teed up by both Republicans and Democrats.
- DOE fact sheet (.pdf)
- Restaurant stocks: CAKE, CBRL, CMG, DNKN, DPZ, DRI, EAT, JACK, MCD, PNRA, RRGB, RT, SBUX, SONC, WEN, BWLD, BDL, NATH, LUB, QSR, CHUY, BLMN, PZZA, TXRH, DENN, KKD, BBRG, DFRG, BOBE, RUTH, IRG, DIN, SHAK, HABT, NDLS, BOJA, PBPB, PLKI, FRSH, RAVE, LOCO, TACO, PZZA, KONA, BGR, BJRI, CHUY, FRS, CBRL, GTIM, TAST, ARKR.
- Retail chain stocks: AEO, ANF, ARO, BBBY, CHS, COST, DG, DLTR, GPS, HD, JCP, JWN, KR, KSS, LOW, LB, ODP, PIR, PLCE, RSH, SPLS, SWY, TGT, TJX, URBN, WMT, RAD, CVS, WBA, M, SMRT, FIVE.
- Previously: Overtime pay rules to be shaken up (June 30)
Fri, Jun. 26, 4:04 PM
Thu, Jun. 11, 8:48 AM
- Clothing stores showed some signs of life in May as tipped in today's Retail Sales report.
- The category was up 1.5% M/M and 3.6% Y/Y to outpace total retail sales.
- The improvement is consistent is with the reads from the narrow range of apparel chains which still report monthly sales.
- The sector has seen discounters show stronger traffic trends than mall-based chains, although both groups have eased off promotional activity a bit.
- Previously: Retail sales stronger-than-expected in May
- Related stocks: ANF, AEO, LUX, GES, CTRN, CATO, LB, PLCE, SSI, ROST, GPS, BOOT, CHS, MW, ANN, ASNA, BKE, DSW, EXPR, URBN, FRAN.
Wed, May 27, 9:18 AM
Wed, May 27, 9:16 AM
- Chico's FAS (NYSE:CHS) disclosed higher sales in Q1 as an increase in square footage offset a minor slip in comparable-store sales.
- The company reported a 90 bps improvement in gross margin rate during the quarter as it dialed back promotional activity.
- SG&A expense rate +60 bps to 47.4% due to sales deleverage of some expenses.
- Inventory per square foot -2.8% Y/Y.
- Restructuring and strategic changes expenses were 2.1% of total sales.
- CHS -5.80% premarket to $15.75.
Wed, May 27, 7:31 AM
Tue, May 26, 5:30 PM
Thu, May 21, 10:35 AM
Mon, Apr. 27, 4:27 PM
Thu, Feb. 26, 7:29 AM
- Chico's FAS (NYSE:CHS) reports net income rose 27% to $7.5M in Q4.
- Comparable-store sales rose 4.3% during the period.
- Comp growth by brand: Chico's +1.2%, White House | Black Market +5.4%, Soma Intimates +13.7%.
- Store additions led to a 4.5% increase in total square footage.
- Gross margin rate -70 bps to 50.0%, down chiefly due to increased promotional activity.
- SG&A expense rate -110 bps to 48.4%.
- Inventories per square foot of selling space -5.7%.
- An accelerated $250M buyback plan is announced.
Thu, Feb. 26, 7:27 AM
Thu, Feb. 26, 7:13 AM
Wed, Feb. 25, 5:30 PM
- ACIW, ACTA, AES, AKRX, AMCX, AMWD, ANSS, ARCC, BDBD, BIN, BUD, CCG, CHS, CNP, CNSL, CRI, CWEI, CYBX, DDD, EME, EXH, EXLP, FCH, FIG, FRO, GCAP, GOGO, HAWK, HEES, HSC, HSNI, ICON, IQNT, IRDM, ITC, KOP, KSS, LKQ, LPI, LTM, MBLY, MDXG, MGLN, MITL, MRGE, [[NTi]], NTLS, NXST, NXTM, OGE, ONE, RHP, SDRL, SEAS, SFY, SHLD, SNAK, SNH, SNMX, SRE, SRPT, TASR, TD, TICC, TWI, VAC, VC, VICL, WAC, WNR, XCRA, ZEUS
Wed, Feb. 25, 10:06 AM
- Sycamore Partners has abandoned its pursuit of Chico's FAS ((NYSE:CHS) -4.6%), according to the WSJ.
- Sources indicate financing terms for a LBO were unacceptable to the P-E firm.
- Previously: WSJ: Sycamore Partners interested in Chico's FAS buyout (Feb. 10 2015)
- Previously: Report: Chico's FAS exploring more options (Feb. 11 2015)
Wed, Feb. 25, 9:24 AM
Thu, Feb. 19, 10:27 AM
- Retail analysts are digging into the impact of the West Coast port slowdown on the sector.
- KeyBanc thinks Perry Ellis (NASDAQ:PERY), Steven Madden (NASDAQ:SHOO), and Vince Holdings (NYSE:VNCE) are three companies that could see a disproportionate sting from the labor unrest.
- The at-risk list from Stifel Nicolaus includes Aeropostale (NYSE:ARO), Abercrombie & Fitch (NYSE:ANF), Chico's FAS (NYSE:CHS), Urban Outfitters (NASDAQ:URBN), Zumiez (NASDAQ:ZUMZ), Francesca's (NASDAQ:FRAN), Express (NYSE:EXPR), Gap (NYSE:GPS), Tilly's (NYSE:TLYS), and American Eagle Outfitters (NYSE:AEO).
- Though a number of the companies have warned on an impact on earnings for Q1, a lengthy slowdown could also hit Q2 as spring lines are delayed.
- Retailers with a larger concentration in California are viewed as more at risk.
- Previously: West Coast port slowdown continues (Feb. 16 2015)
- Previously: West Coast port slowdown impacts furniture industry (Feb. 17 2015)
- Previously: Perry Ellis cuts guidance due to West Coast port disruption, shares -15% AH (Feb. 17 2015)
- Previously: Apparel companies at risk from West Coast torpor (Feb. 18 2015)
CHS vs. ETF Alternatives
Chico's FAS Inc is a specialty retailer of women's private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories & other non-clothing items. It currently sells products through retail stores, catalog & via the Internet.
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