Chico’s Slips

Chico’s FAS Inc. (Fort Myers, Fla.) reported a 4.1 percent drop in same-store sales for the four-week period ended Oct. 28, 2006. The decrease, unusual for the specialty apparel retailer, came even as overall sales increased 9.9 percent.

“We are disappointed with our October sales results,” said president and ceo Scott Edmonds. “Accordingly, we are reducing our third quarter earnings estimate and will provide further updates on our third quarter earnings conference call on Nov. 29, 2006.”

Total sales for the third quarter ended October 28, increased 12.1 percent though same-store sales decreased 1.2 percent.