(Filed Under Financial and General Interest News). Soma’s comparable sales rose 3.4% in the first quarter, compared to a decline of 5.8% in the same period last year.

The intimates division of Chico’s FAS said the gain was “driven by bras and sleepwear. The company’s latest Enbliss collection is performing particularly well and is on track to be the #1 franchise in Soma’s portfolio.”

The overall comps for Chico’s FAS were down 7%, with the company’s apparel brands Chico’s falling 7.8% and White House Black Market dropping 10%.

Soma’s net sales rose 2.4% to $80.1 million in the quarter ended May 4, up from $78.2 in the same period last year.

For Chico’s FAS as a whole, total net sales dropped 7.8% to $517.7 million, from $561.8 million in the quarter ended May 5, 2018. Net income plunged 93% to just $2.0 million, down from $29.0 million in the same period last year.

Bonnie Brooks, interim CEO and president of Chico’s FAS stated “actions are now underway across all brands with a focus on three distinct areas that will positively impact our results.” She replaced Shelley Broader, who was reportedly asked to resign, in April. The company confirmed that it is “making progress on its previously announced search for a permanent CEO.” — NM

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Published 06-11-2019 by Nick Monjo