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

Exhibit 99.3

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. Management believes the presentation excluding the Boston Proper brand, which was sold in the fourth quarter of fiscal 2015, may provide a more meaningful measure on which to compare the Company's results of operations between periods. The tables below present a reconciliation of selected consolidated financial data on a GAAP basis to selected consolidated financial data on a non-GAAP adjusted basis, when excluding Boston Proper and reflecting the adjustments discussed above.

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Chico's FAS, Inc. and Subsidiaries
Fiscal 2015 Reconciliation of Reported to Adjusted Selected Non-GAAP 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			47.3		308,437			45.3		327,575			51.1		318,356			50.7		1,282,585			48.5
Subtotal	67,553			9.8		57,531			8.5		22,907			3.6		181			0.1		148,172			5.6
Boston Proper
	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	$	23,780		100.0	%	$	24,209		100.0	%	$	17,312		100.0	%	$	15,671		100.0	%	$	80,972		100.0	%
Cost of goods sold	13,301			55.9		13,286			54.9		11,486			66.3		11,790			75.2		$	49,863		61.6
Gross margin	10,479			44.1		10,923			45.1		5,826			33.7		3,881			24.8		$	31,109		38.4
Selling, general and administrative expenses	14,866			62.5		14,163			58.5		11,466			66.2		11,394			72.7		$	51,889		64.1
Subtotal	(4,387		)	(18.4	)	(3,240		)	(13.4	)	(5,640		)	(32.5	)	(7,513		)	(47.9	)	(20,780		)	(25.7	)
Adjustments, excluding Boston Proper
	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)	$	2,909		0.4	%	$	3,381		0.5	%	$	2,828		0.4	%	$	3,131		0.5	%	$	12,249		0.5	%
Store occupancy expense(2)	93,286			13.4		95,272			13.9		95,583			14.8		95,601			15.2		379,742			14.3
Shipping expense(3)	7,919			1.1		7,875			1.2		7,710			1.2		8,923			1.4		32,427			1.2
Cost of goods sold	101,205			14.5		103,147			15.1		103,293			16.0		104,524			16.6		412,169			15.5
Gross margin	(98,296		)	(14.1	)	(99,766		)	(14.6	)	(100,465		)	(15.6	)	(101,393		)	(16.1	)	(399,920		)	(15.0	)
Selling, general and administrative expenses	(98,296		)	(14.1	)	(99,766		)	(14.6	)	(100,465		)	(15.6	)	(101,393		)	(16.1	)	(399,920		)	(15.0	)
Subtotal	—			—		—			—		—			—		—			—		—			—
As Adjusted, Non-GAAP
	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	$	672,468		100.0	%	$	659,523		100.0	%	$	626,735		100.0	%	$	614,860		100.0	%	$	2,573,586		100.0	%
Cost of goods sold	385,473			57.3		404,244			61.3		382,544			61.0		401,597			65.3		1,573,858			61.2
Gross margin	286,995			42.7		255,279			38.7		244,191			39.0		213,263			34.7		999,728			38.8
Selling, general and administrative expenses	215,055			32.0		194,508			29.5		215,644			34.4		205,569			33.4		830,776			32.3
Subtotal	71,940			10.7		60,771			9.2		28,547			4.6		7,694			1.3		168,952			6.5

⁽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 Non-GAAP 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
Boston Proper
	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	$	24,311		100.0	%	$	25,328		100.0	%	$	22,787		100.0	%	$	23,377		100.0	%	$	95,803		100.0	%
Cost of goods sold	11,959			49.2		14,112			55.7		13,406			58.8		15,978			68.3		$	55,455		57.9
Gross margin	12,352			50.8		11,216			44.3		9,381			41.2		7,399			31.7		$	40,348		42.1
Selling, general and administrative expenses	14,274			58.7		13,010			51.4		13,325			58.5		12,882			55.1		$	53,491		55.8
Subtotal	(1,922		)	(7.9	)	(1,794		)	(7.1	)	(3,944		)	(17.3	)	(5,483		)	(23.4	)	(13,143		)	(13.7	)
Adjustments, excluding Boston Proper
	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)	$	2,225		0.3	%	$	2,970		0.4	%	$	2,719		0.4	%	$	3,012		0.5	%	$	10,926		0.4	%
Store occupancy expense(2)	90,235			13.2		92,640			13.7		93,185			13.9		91,915			13.9		367,975			13.7
Shipping expense(3)	7,243			1.1		7,617			1.1		7,799			1.2		8,718			1.3		31,377			1.2
Cost of goods sold	97,478			14.3		100,257			14.8		100,984			15.1		100,633			15.2		399,352			14.9
Gross margin	(95,253		)	(14.0	)	(97,287		)	(14.4	)	(98,265		)	(14.7	)	(97,621		)	(14.7	)	(388,426		)	(14.5	)
Selling, general and administrative expenses	(95,253		)	(14.0	)	(97,287		)	(14.4	)	(98,265		)	(14.7	)	(97,621		)	(14.7	)	(388,426		)	(14.5	)
Subtotal	—			—		—			—		—			—		—			—		—			—
As Adjusted, Non-GAAP
	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	$	659,519		100.0	%	$	648,772		100.0	%	$	645,501		100.0	%	$	636,542		100.0	%	$	2,590,334		100.0	%
Cost of goods sold	384,233			58.3		405,803			62.5		389,354			60.3		413,396			64.9		1,592,786			61.5
Gross margin	275,286			41.7		242,969			37.5		256,147			39.7		223,146			35.1		997,548			38.5
Selling, general and administrative expenses	209,522			31.8		194,440			30.0		209,984			32.5		207,271			32.6		821,217			31.7
Subtotal	65,764			9.9		48,529			7.5		46,163			7.2		15,875			2.5		176,331			6.8

⁽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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