Chico's Fas (CHS) 8-K Chico’s FAS, Inc. Realigns Marketing and Digital Commerce to Better Support Brands and Improve Operating Efficiencies

Exhibit 99.2

The Company has historically presented store occupancy expenses, shipping expenses and shipping revenue within selling, general and administrative expenses ("SG&A"). Beginning in the first quarter 2016, the Company will present store occupancy expenses and shipping expenses within cost of goods sold and will present shipping revenue within net sales. A detailed disclosure of the changes will be included in our first quarter 2016 Form 10-Q. The tables below present the presentation changes to selected consolidated financial data.

Chico's FAS, Inc. and Subsidiaries
Fiscal 2015 Reconciliation of Reported to Adjusted Selected Consolidated Financial Data
(Unaudited)
(in thousands)
As Reported
	Thirteen Weeks Ended																Fifty-Two Weeks Ended
	May 2, 2015				August 1, 2015				October 31, 2015				January 30, 2016				January 30, 2016
	Amount		% of Sales		Amount		% of Sales		Amount		% of Sales		Amount		% of Sales		Amount		% of Sales
Net Sales	$	693,339	100.0	%	$	680,351	100.0	%	$	641,219	100.0	%	$	627,400	100.0	%	$	2,642,309	100.0	%
Cost of goods sold	297,569		42.9		314,383		46.2		290,737		45.3		308,863		49.2		1,211,552		45.9
Gross margin	395,770		57.1		365,968		53.8		350,482		54.7		318,537		50.8		1,430,757		54.1
Selling, general and administrative expenses	328,217		47.4		308,437		45.3		327,575		51.1		318,356		50.7		1,282,585		48.5
Subtotal	67,553		9.7		57,531		8.5		22,907		3.6		181		0.1		148,172		5.6

Adjustments
	Thirteen Weeks Ended																				Fifty-Two Weeks Ended
	May 2, 2015					August 1, 2015					October 31, 2015					January 30, 2016					January 30, 2016
	Amount			% of Sales		Amount			% of Sales		Amount			% of Sales		Amount			% of Sales		Amount			% of Sales
Net Sales(1)	$	4,427		—	%	$	5,475		—	%	$	4,214		—	%	$	4,210		—	%	$	18,326		—	%
Store occupancy expense(2)	95,238			13.4		97,258			13.8		96,773			14.8		95,626			14.9		384,895			14.1
Shipping expense(3)	9,341			1.3		9,484			1.4		8,760			1.3		9,732			1.5		37,317			1.4
Cost of goods sold	104,579			14.7		106,742			15.2		105,533			16.1		105,358			16.4		422,212			15.5
Gross margin	(100,152		)	(14.7	)	(101,267		)	(15.2	)	(101,319		)	(16.1	)	(101,148		)	(16.4	)	(403,886		)	(15.5	)
Selling, general and administrative expenses	(100,152		)	(14.6	)	(101,267		)	(15.1	)	(101,319		)	(16.0	)	(101,148		)	(16.3	)	(403,886		)	(15.5	)
Subtotal	—			(0.1	)	—			(0.1	)	—			(0.1	)	—			(0.1	)	—			—

As Adjusted
	Thirteen Weeks Ended																Fifty-Two Weeks Ended
	May 2, 2015				August 1, 2015				October 31, 2015				January 30, 2016				January 30, 2016
	Amount		% of Sales		Amount		% of Sales		Amount		% of Sales		Amount		% of Sales		Amount		% of Sales
Net Sales	$	697,766	100.0	%	$	685,826	100.0	%	$	645,433	100.0	%	$	631,610	100.0	%	$	2,660,635	100.0	%
Cost of goods sold	402,148		57.6		421,125		61.4		396,270		61.4		414,221		65.6		1,633,764		61.4
Gross margin	295,618		42.4		264,701		38.6		249,163		38.6		217,389		34.4		1,026,871		38.6
Selling, general and administrative expenses	228,065		32.7		207,170		30.2		226,256		35.1		217,208		34.4		878,699		33.0
Subtotal	67,553		9.7		57,531		8.4		22,907		3.5		181		—		148,172		5.6

⁽¹⁾ Adjustments to net sales represent the correction of an immaterial error in the classification of shipping revenue, which was previously classified within SG&A.

⁽²⁾ Adjustments to store occupancy expense represent the reclassification of store occupancy expenses, which were previously classified within SG&A.

⁽³⁾ Adjustments to shipping expense represent a change in accounting policy to present shipping expenses within cost of goods sold, which were previously presented within SG&A.

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Chico's FAS, Inc. and Subsidiaries
Fiscal 2014 Reconciliation of Reported to Adjusted Selected Consolidated Financial Data
(Unaudited)
(in thousands)
As Reported
	Thirteen Weeks Ended																Fifty-Two Weeks Ended
	May 3, 2014				August 2, 2014				November 1, 2014				January 31, 2015				January 31, 2015
	Amount		% of Sales		Amount		% of Sales		Amount		% of Sales		Amount		% of Sales		Amount		% of Sales
Net Sales	$	681,605	100.0	%	$	671,130	100.0	%	$	665,569	100.0	%	$	656,907	100.0	%	$	2,675,211	100.0	%
Cost of goods sold	298,714		43.8		319,658		47.6		301,776		45.3		328,741		50.0		1,248,889		46.7
Gross margin	382,891		56.2		351,472		52.4		363,793		54.7		328,166		50.0		1,426,322		53.3
Selling, general and administrative expenses	319,049		46.8		304,737		45.4		321,574		48.3		317,774		48.4		1,263,134		47.2
Subtotal	63,842		9.4		46,735		7.0		42,219		6.4		10,392		1.6		163,188		6.1

Presentation Adjustments
	Thirteen Weeks Ended																				Fifty-Two Weeks Ended
	May 3, 2014					August 2, 2014					November 1, 2014					January 31, 2015					January 31, 2015
	Amount			% of Sales		Amount			% of Sales		Amount			% of Sales		Amount			% of Sales		Amount			% of Sales
Net Sales(1)	$	4,026		—	%	$	5,465		—	%	$	4,515		—	%	$	4,712		—	%	$	18,718		—	%
Store occupancy expense(2)	90,860			13.0		93,682			13.5		94,734			13.9		93,711			13.9		372,987			13.5
Shipping expense(3)	8,844			1.3		9,441			1.4		9,280			1.4		10,250			1.5		37,815			1.4
Cost of goods sold	99,704			14.3		103,123			14.9		104,014			15.3		103,961			15.4		410,802			14.9
Gross margin	(95,678		)	(14.3	)	(97,658		)	(14.9	)	(99,499		)	(15.3	)	(99,249		)	(15.4	)	(392,084		)	(14.9	)
Selling, general and administrative expenses	(95,678		)	(14.2	)	(97,658		)	(14.8	)	(99,499		)	(15.2	)	(99,249		)	(15.4	)	(392,084		)	(14.9	)
Subtotal	—			(0.1	)	—			(0.1	)	—			(0.1	)	—			—		—			—

As Adjusted
	Thirteen Weeks Ended																Fifty-Two Weeks Ended
	May 3, 2014				August 2, 2014				November 1, 2014				January 31, 2015				January 31, 2015
	Amount		% of Sales		Amount		% of Sales		Amount		% of Sales		Amount		% of Sales		Amount		% of Sales
Net Sales	$	685,631	100.0	%	$	676,595	100.0	%	$	670,084	100.0	%	$	661,619	100.0	%	$	2,693,929	100.0	%
Cost of goods sold	398,418		58.1		422,781		62.5		405,790		60.6		432,702		65.4		1,659,691		61.6
Gross margin	287,213		41.9		253,814		37.5		264,294		39.4		228,917		34.6		1,034,238		38.4
Selling, general and administrative expenses	223,371		32.6		207,079		30.6		222,075		33.1		218,525		33.0		871,050		32.3
Subtotal	63,842		9.3		46,735		6.9		42,219		6.3		10,392		1.6		163,188		6.1

⁽¹⁾ Adjustments to net sales represent the correction of an immaterial error in the classification of shipping revenue which was previously classified within SG&A.

⁽²⁾ Adjustments to store occupancy expense represent the reclassification of store occupancy expenses which were previously classified within SG&A.

⁽³⁾ Adjustments to shipping expense represent a change in accounting policy to present shipping expenses within cost of goods sold, which were previously presented within SG&A.

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