CHS - Earnings call transcript Q1 2019

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good morning, and welcome to the Chico's FAS First Quarter 2019 Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to Julie Lorigan, Vice President of Investor Relations. Ms. Lorigan, please go ahead.

Julie Lorigan

good and Anita, you, morning, everyone. Thank Chico's and webcast. to FAS first call conference earnings XXXX quarter Welcome

Joining are Officer. and Todd me and Vogensen, CEO today our Bonnie Brooks, Chief Financial interim our President;

found Our issued under Relations, Releases. earnings Press website today be Investor release at on can www.chicosfas.com our

you today's speak business our Let date. our industry, include which about as comments and forward-looking of about me caution expectations, and assumptions, projections will statements only today's current plans, today that estimates, judgments our

obligation forward-looking or statements. release results are on factors our should that differ in required actual rely You by our issued morning as not and are the statements and cause Important or materially otherwise could on that unduly earnings forward-looking in this may included SEC from implied revise to this be comments events in those filings any projected by information update call, to or disclaim except discussed this our any law. made call. We

Bonnie. call And with that, to I the will over turn

Bonnie Brooks

Thank you, everyone. Julie morning and good

In a underway the priorities. a search actions the now made a and the Company to the distinct brought initiated We reset will changes for leadership brands, significant and impact focus believe our CEO, new Company's on positively talent our have are in that within first with three areas across new quarter, we we results.

on On today's call, performance. our and update I new an these will review provide priorities

of our your in remarks, my take the results to Todd turn financial I'll Following review detail a call we and for more questions. will then over

having decades retail FAS Board been industry. as spent As and you Chico's member in a I of interim April CEO XXXX three apparel the in than more having in stepped the know, since after

review styling working I examine weeks, our quality brands. for have and and past our with all to directly three marketing these Over been teams evaluate product,

of as helped are apparel engaging experience three turnarounds field sharing today. us the executing in new operating in stakeholders. other work successful This we major vendors retailers have with including been new customers, and with CEO also internally have and priorities which interim and speaking partners, other I my define implemented

through the supply second, service; improved product our optimizing These first, operations transforming journey market and speed sourcing to unique driving simplifying, stronger sales to and include increase quality. by improved extending our and chain personalized and digitizing product; third, customer and

in quarter and let's Actions are bottom line underway I these performance. expectations But each quarter our with areas. of were by mixed Top results those our performance brand. before the line with first review for first address actions, in

sleepwear has influence. as aesthetic. elevating started quality McKibbin, new brand Under on from benefited President to our the summer direction, and Chico's reflected areas product key our of Karen which Chico's architecture. her her positive to responded bras and Xst, favorably a and already results. brand is we X.X% Customers and overall comp in Soma, drive deliver assortments sales increase. more April At the focus both spring balanced a two continue Successes helped

in success We to range saw the track our particular with portfolio. number extension, on which franchise one bra is Enbliss our be

high in our excellent shirt sleepshirt to our separates. momentum customer buy Cool with mix-and-match with Nights and - and demand We our also sleepwear our our saw continuing

House Black White a At decline. sales print resulted color first quarter in in comparable Market, misses and

adjusting correct talent merchandising to I'll design we course this However, future about and by shortly. steps in more immediate bringing took and talk new product.

the creation. and be value and even to improve more we now emphasize that done I with improvement know continuing Soma, growth to must at the want at Chico's performance

We are not standing still.

additional provide work on the me color Let underway.

the customer we distractions are do completely the doing. across agenda, projects This In to sales everything entire our the agenda, priority sales. on taken to portfolio. that have of they the past many center weeks, and drive stronger six have if the the and customer is we off means put First, our not at were relate we

the This Job well fashion customer our creating customer that the we apparel. know is for our business This is is at around profitable one each a of for affordable wanted, decades is brands. that exciting, in in now and in of have a brands. taking many built the center and sales I actions are

This DNA is the the stores what the myself to on team have and brands and and been and spending time aligning tools. the significant the the selling customer, assessing DNA leaders online the product, of that marketing

brands and in more effective strengthen market have allocation working quality, styling, to each marketing. of product opportunities significant and digital our position we We at through fit are our

depth for I've required to distort our and involved presidents back we and plans and ensure been of intimately with our marketing half execute year to drive the review, product revise designing sales. for brand the

new addition marketing. a balanced At assortment have recruited and it's the the is thoughtful in quality, both and and The talent aesthetic having continuing focused to Karen, wardrobe to of product and we fit in memorable on product pieces collections. elevate essentials, team Chico's, with

important category be to assortments, added an and and continue have we depth strength. of our items component Key

have layout We of presentation and merchandising our to stores reset of changes. online these our reflect the also

cohesive more visual our impact new and of story for with we and current products. inviting now stand of making improved customers a what are We telling our stores

focus As to the increasing is our team on improving of digital. voice the on customer marketing, focused our by

prints our not closely the Next, aligned colors spring Market, White were enough. in first at customer to House our Black delivery and

taking and issues season holiday action within are are mentioned as and for swift fall control position we our brand that and these our earlier. However, adjust the to are product

organization. color place a we in a throughout specifically have have for and addition, capability hired In seasoned merchandise print to testing approvals, expert executive the rigorous more address and

possible and fall have meaningful balance our the improvement the with we in more We and where of assortments visual for anticipate holiday deliveries. adjusted QX

underway merchant the to a search for for new near-term. our Market House in brand well head also White Black are make in a We appointment expect an and

During the Board with myself and is to Roy, Kim product our brands joined and period transition, during February with working the in who this assist merchandising.

as the in recently of Group both sales retail of experience had years women's product and President industry and XX Ralph Lauren years than particularly spent more apparel. responsibility. Most XX in has Kim Kim

We able eye Kim's to to be are tap and pleased expertise. into her

new driven to and our gain on focus product growth, we sleepwear. bras and continue innovation by Soma, are in traction we investing At launches, in

a have and our and franchise new Vanishing half new We the look launch out planned back major the year launches next we as additional in of innovation in bra to spring.

sets are sleepwear new gifting as We occasions testing and value around well.

well strong growth Our initiatives a driving supported product reactivated with which customers. are is digital and new on program, influencers marketing as in and focused

the second drive next, focus our area, So, journey sales. customer to optimizing

digitize her and fast invested have to meets the We customer expectations technology transparent for in heightened seamless, way that in a experience service.

Company's tool drive can to and a program the the newly both and that network. syncs legacy proprietary clientele We are now StyleConnect, using sales online across developed in-store

further and the expertise digital connection. enabled a have with now for customers first time the And creating We is connection that drives with being our with personal strengthens loyalty StyleConnect.

customers on see boards utilize for our specifically are this messaging, respond build our to fashion tailored our as advice starting our to to associates to We training we traction and in style our how technology wardrobes needs. and are sales to test model customers their

summer, this all implementation with step will the addition, strategy banners. up online executing stores customer pick buy our journey across in In next of the in and we take

supply end recently from engaged study vendor and seamless customer. our network are alternatives. evaluate fully And is for working third end a We fulfillment sourcing our supply to a network operations, our through to to to focus integration transformation. in allow chain, chain digitize area key and full In optimize to we more distribution

focus product, To and our changes we making quality, on support our also to elevating styling are sourcing.

advantages and our volume We business for both that product we consistency, consolidate have worked speed base had our in vendor diligently have not to today.

reduced and have benefits negotiations vendor last For that base with vendors, that, and we the there through example, opportunity over consolidation more brings. XX% is the even and by for scale we almost our year, believe our ongoing

to At China continue the concentration. manufacturing reduce same time, we our

spend moving well We from country. want of our are an a China I on this before update and on sourcing tariffs moment from all providing product on, aware to the

Over there. the product to to as approximately continue we our countries penetration have last of reduce year we our our by and in origin, further diversify XX% continue manufactured China reduced

if today imposed proposed fourth of from goes duty effect. tariff the have May As for Chinese on XX% tariffs, impact, goods a minimal on products, we the Xth the amount limited tranche significant into the we on had announced of a but anticipate XX% impact

on pricing. product working including strategies, with are mitigating and and engaging on agreements sharing managing buys vendors, cost our We our forward adjusting and

the for turn call on you I'd over I to permanent a seven like weeks Before search began to update our Todd, status which of ago. CEO, the

seeing. for our believe are We have brands. the market the they too Company and opportunities in candidates caliber And we of by importantly, been in that impressed the

to translate the confident changes led to for These search Company on across look financial The keeping proceeding but CEO we organization. results, we and of are for better the I making we take am you shareholders. our expectations previous will forward time improvements path are a turnarounds, and ahead important forward updated. our In summary, having into is

Todd?

Todd Vogensen

Thanks Bonnie, everyone. and morning good

Before on we quarter our comments non-GAAP will adjusted discussion begin, be first an financial results of basis. and or

our GAAP reflecting reported with sales issued this with You'll find outlook start brands. line the included that, the previous non-GAAP of our to press X% quarter soft comparable reconciliation our first With across release schedule the and we the morning. to for down quarter all in

this continue omni channel. first low journey in to strength platform to increased ongoing did our believe year's We see compared We in healthy customer our quarter. growth digits fuel last which will in e-commerce double investment and

to spring Moving line, year. was charges reported product. to levels due the Market at retail of was the related we bottom the compared of per our House and to slightly Merchandise program. diluted excludes accelerated White higher Chico's margin $X.XX through the to which primarily prior depreciation optimization Merchandise clear earnings up adjusted discounts to share quarter first Black margin down fleet at Soma both

exited our margin expectations. This down and channel omni decline inventory our excludes depreciation also primarily basis than X.X% related on down year. We charges fixed XXX program gross of XXX was compared to sales. impact our basis of costs with to last points optimization points. expansion accelerated Overall, to deleverage was costs of slightly the reduced related of the The programs to due better fleet the quarter total

expenses, was down in Moving quarter and compared was year our to with $X to line SG&A million SG&A first expectations. last

for generate remains in full term and flow investments in $XX quarter with short the we'll positive year. ended cash anticipate free that million Our $XXX balance million and We debt. sheet cash and strong we strong the

announced at our store and million optimization continued to to fiscal in invested first XXXX, expenditures of refreshes. in XX on quarter capital and to investments remains plan we're XXXX, existing fleet stores in part prior expenditures closed We $X quarter. previously plan. track the eight our remodels for outlook stores our the on We in capital as close for Consistent with first and our on million. XX focus $XX technology We retail

million $XX authorization. four repurchases. under quarters, to We our $XXX In shareholders. shareholders returned we share existing outstanding share million repurchase to approximately and million of $XX In the the quarter, returned the currently approximately first in have we form have trailing dividends

Now fleet to the the our plan. outlook to this quarter the turning full charges outlook our net excludes related financial for updated expected XXXX, year of outlook for and second retail optimization

For House comparable improvement sales reflecting second fiscal decline Black we the a in brands second in brand. sales and Chico's of digit to sales trends softer compared in our total a last single and White sequential quarter, sales year's consolidated XXXX, mid in net both quarter Market our Soma expect and

omni-channel of be as fixed our Soma points management, reflecting approximately programs due lower And Gross of associated sales. net will cost our expenses flat offset basis a decline investments to from incremental costs marketing. percent SG&A XXX points by ongoing basis costs XXX in deleverage and sales primarily to with to approximately margin

comparable low decline guidance mid of full a single low For a to in sales consolidated to year, net sales last digit and in digit sales year compared our and total previous XXXX, comparable decline single we the versus total of expect sales.

consideration takes half that year sales across and first brands driven priorities improved actions outlined in reflects our performance Bonnie the all This of second by the quarter into key earlier. fiscal and outlook trends the

flat due previous our costs a and XXX points sales to will be of of of to percent approximately down XX costs from incremental as points with sales. XX deleverage fixed basis to our basis margin points, Gross down guidance associated versus omni-channel lower net programs basis

trends all year. in the trends in half year second the of gross for half is across improvement second in improvement driven by expected full outlook our margins the brands sales for the The

plan. investments related in accelerated SG&A, we million depreciation which approximately guidance XXXX optimization offset fleet expect by And down range lastly, in approximately $XX to versus of previous tax our to our reflecting marketing, our fiscal rate cost excludes management. of be flat to XX% Soma the XX% ongoing

second of our the as our in are and roughly a to stronger for through We've XX%. we first expectations half that our our bottom line the anticipate account rate tax fourth to XX% of quarter range Note P&L half guidance. normalize earnings Overall, of a re-balanced XXXX, of fiscal the the prior to weaker for second components year. same

over the Julie to for Q&A. Now, I'll call back turn

Julie Lorigan

Thank happy questions be you, to turn it to we'd Todd. At take this and time your I'll Anita to begin. back

Operator

today first B. comes Riley FBR. from Anderson Please ahead. go The question Instructions] with [Operator Susan

Susan Anderson

I there Nice as to brands, gross in and And, see it across levels maybe also if for, additional guys you just mean margin need if half would the in then be second I what first did Thanks. that talk the great. but relates brand. was you for you second quarter, in be too, Chico's talk merch And your improvement inventory if I the guess quarter back I could then this, sorry say in the will think, about second merch the margin may clearing expectations missed about margin, quarter could then in have and to quarter?

Todd Vogensen

Absolutely.

So across inventory brands. levels

quarter White us a For in proactive being how managing the we as I bit been That we've the sales and cost nothing inventory in went line Chico's doing merchandise as go QX, with about little House, of same. would much inventory that. our and did been really first margin into go and say we significant. tightly the through pretty terribly we managing We've

up inventory solid We've in set with position. ourselves overall

to also White our have probably than inventory be well. Our House positioned we would fairly we've sales particularly But expected budgeted. for are lower

So no in to maintain the significant second impact margin quarter.

bigger tell we'll we sales behind have White House, those overall if opportunity, you managing inventory again invest areas through levels, would really we we levels expectations be will will in some what Chico's The really is, I with Across for and see are where those. inventory our and Soma. opportunity line

with as increase in Soma we have, into Soma the we particularly you planned, with programs tailwind And in inventory have the get the half. second see an will we

Susan Anderson

the improved the up can feel Chico's, one And you just merchandise in just guess And in get performance of brands. about there. you you guess Maybe then the follow-up House the enough of of the like the assume switch to continuation sales and there across for do half drivers specifically, I Thanks. for that half? it's back I kind in I improvement inflection White on a if just kind back talk could

Bonnie Brooks

Hi, it's Thanks Bonnie. assumptions. your question. Good for

Yeah, fact the my bringing significant looking to Kim's time. those Company in House. the House White our product White leaders for with reviews, the right of the product attention doing in starting So in products has now. attention, Both attention reviews first we're all in and and senior at

different will taking the can QX different now. product, products. to actually not of all new QX. So House White changes, significant and QX, a brand we have to I each primarily much in would significantly at the be in across are expertise has look say product advantage practice, we that's brands And as guarantee resulted and the QX. I merchant is

brand fall it more we're that very the In and for than much Chico's, brand in is going product elevated about was excited forward. the

Operator

Greenberger from Stanley. comes question go Please next Morgan ahead. Kimberly The with

Kimberly Greenberger

trend Bonnie, I to I other cash you are Todd, you you you're ask, got? free year product of to that cash free here sounds you've working remind wondering management the up you across improve merchandising strategies just are confidence on just second and of with And in or you've you've flow. and then this how any us of try the you. that that if the just to that gives more effort to organization? any cash like start the got any setting wanted other testing strategies flow Thank success wanted Could a on product sort it expecting testing much improvement and got rigorous feedback half I'm

Todd Vogensen

I'll the on and question. it go cash ahead start flow

years. the Free been last some So, a had of over ten successes has bedrock flow you're right. cash really we've of the

ten row about had have $XXX or We free of flow. of cash more in million years a

So focused it. forward, clearly very going on

perspective. an a but it a this given focus strategy haven't is as exact from We amount year, for always,

and that's all to similar at are operating we of to at last capital opportunities. within We the continue the looking look bucket, normal year then

buying accounts certainly on that as the in increase should last leverage. need forward, expect And year we to particular So our help had We go which rents payable to real looking occupancy leverage in that. inventory then rent the inventory payable with leverage store allows side us and continue cash at for to accounts plan, time more to overall try that on our great side. maximize rationalization the with continued our

Bonnie Brooks

I you for a would really testing, we is more product. say for question recently So the much thank developed what rigorous of Kimberly. criteria in have terms that

for scoring So, terms print, each what ranking score. purpose, giving does we've color, actually scoring it its of And each the product is of developed attributes on a in etc, attributes methodology garment styling, a we're the product you - know, etc. and and how rank

because analyzing take And sellers. to the important, quite back we then best actually that that's

So we're have quarter ensuring product institutional maintains the model rigorous veered first White House off found knowledge its that at the What the was that team and items. they testing. we in particularly around the had

well actual an all would the and in looking now So, product merchant are that of time I at these inordinate all teams. spending and of amount we all say with the are as place

well. We are directly the merchandise with working all managers as

elevated a So, that shared taste print, drive answer particularly effort question and your Does Kimberly? level styling. colors an in it's to actual

Operator

Siegel from comes The Instinet. next with Nomura Simeon question

Unidentified Analyst

notable difference Could our traffic provide by for and any there the on between separately and on stores the any quarter full [ph] Simeon price [Ben] is concepts? outlets color throughout saw Thanks. This brand you across taking for trends you thanks was question. then

Todd Vogensen

outlets store would you have say those what good good have been were Market in Black quarter, little traffic brands for the outlet us the they with across been terms very front job generally, in other a with assortments traffic continue being versus our a overall House and of see - on positive line, lower in of traffic. centers bit what than In on expect so I what of trends outlets comps I a clearly were traffic. centers, done line to seeing to trends flow customers, They've for that was the a our drive White continued terms would their we would spot

Operator

from question Janine The comes go next with ahead. Please Stichter Jefferies.

Janine Stichter

for Bonnie. question A

agenda experience. Can Company some directly projects You touch to this maybe on? these that customer then, you off some opted has the more improving allowed taking you've mentioned from attention projects walk some the that and which weren't give its projects the color on on refocus of away to

Bonnie Brooks

of all I thanks lists of at not I ago think a projects the build excessive. half took may the the weeks business, that, but projects valid quite have are and for our think valid a them, in and - because they're on of been actually in yesterday happens six lot look list removed - today. We a companies question, we get of what of is Janine than lot can those more that agenda things that

But tools, that we business I And concentrate the agenda. that what driving that on only have that and of is in that is, off the mean the are improving notes. for marketing those which the is earlier and effort on maybe new mentioned I areas customer tools isn't that driving on a significant product, by to that fall we and point sales the anything sales, maximizing of focused my sales made to sales focused customer

in we not the to and valid Now, some where going longer forward projects of today. focus are they're need but concentrate term, those

and senior them going real a talking meeting our drift the actually it's tell every you to is to you, three every meetings away, to in not very that can people about sure rigor be that priorities, I that around have have aligned today. remind for leader easy We and making and to continually we're

on areas the that three We mentioned. are we've focused only

and sales marketing course sourcing. and and of supply product, So chain

You choices. have to make

Operator

Roxanne comes from go Meyer MKM question with next Please ahead. Partners. The

Roxanne Meyer

acquisition. color, your being was it Market, is the to kind swings and First, And sales on sales thinking in your are wondering I returning having White strategy you too white to it Black balance at pendulum as about House what core your then hanging enough the top see much Market, Chico's both on years every between want the color, of and you're customer fruit to in low really focus terms priority. you you of about growth for you. thinking versus feels of is I and refreshing Thank House that secondly, color? that how White like being, black see not for say how how Black layering having few know, the

Bonnie Brooks

there. in Lots of Thanks. questions

You know, it's fascinating.

the candidates align opportunity. the and on we at hearing the are and the and have business a to interesting emphasis the been And, it's they in thoughts renewed having putting their with for business We hear when on from CEO, Board's thoughts absolutely thoughts Roy's products how core. customer very Kim my potential thoughts,

So, in business. low when are you our fruit, talk about significant there hanging opportunities

business category category, looking at can that the of category as really What in immediately. and the are you expect, purpose category. is beefed are the what weaknesses up category the strengths the would and how be and analyzing We by

are in that Nordstrom, to I - of team think is sell as to lens apparel to specific opportunities and Karen to already for been customer one have. that a of what category group selling team the And coming have sells what each experts customer having this leading years changes to We from significant and recognition on customer Chico's. our the the I benefits particularly Karen's that that to with made the leaders wider and of customer. having XX

to all its the brand factors development, drive much mix. to to So, we of product have and a that categories, approach a different key item

Absolutely. Are it? there hanging low fruit? is XXX%. So we after

much in black your issue, right and about a white in actually stores the is black not comment perfect see very rigor color And you if issue. need a is that of will go which merchandise. in In that's terms and little a into in white, deviate and House, now, White not putting you White not we the the House to issue, discipline the we're colors and be around major place establish parameters and which will to little

And White category opportunities. incredible has development also House

So we low see hanging a fruits. lot of

our Their I earlier dovetail So do candidates. as own. comments the said CEO potential with

candidates So that's our people Black about we and space. the opportunities white because the space we're of are they quite course terrific very understand white understand Chico's have and excited is exciting. in the we so understand both House They and Soma that's Market White so the white and space that have in on a trajectory

Operator

[Operator Instructions] The with Please next ahead. Kloppenburg Janet Research. JJK question comes from go

Janet Kloppenburg

about of that's I basics back opens restored and much. or whack Thank pricing new it there. direction a get how and assortments then between of if wondered elevated that in if up. and across will and take as pricing fall and for be imbalances know wondering inadequate so balance that level there was to talked that categories near the and and of of that respect you I to then the see Chico's. White wanted you been Black I'm wondering had will to same being the questions with in couple out - the And and half are I fashion or perhaps the what could I'm been perhaps in season term an meant if Market. Chico's there ask issues issue. is or styling Bonnie terms an about for there the about a the could House talk corrected print I assortment you color other that as have long basics

Bonnie Brooks

mean. start packed around of final of She about in direction your which terms question. with Lot and direction that thought the the is into what your I'll part new that talked Chico. question elevation Chico's of question Maybe the does -

product last more the couple height the So years in it a the sales of has customer. significant at of it it bit to is been than Chico's our and at was belief market the importance over that mass

opportunity in is product again have styling this quality, what hand being shape. And elevated and prints, fit improvement So more for sophisticated more huge that to and that end, the is and means itself in shapes. sophisticated

price more we a know, us You amazing of create opportunity value ahead have really a of relationship. to

it elevate And increase intent prices? the and taste intent so our Absolutely. is No. it is level? to product to increase our quality But the

You making so the basics basic had a Chico's. balancing making and competitive also to our more basic question basics and the go really than not the believe that interesting yes we assortments way basics about them for is

- so the... you House right White of were the print discussing and terms In

Todd Vogensen

Anything and color.. beyond print

Bonnie Brooks

need Oh, news issues to very the specialists about the addition in that we that. in joined She's issue at any guiding team question real Beyond color our recently fit print of steady a - excited one overall so we've in House that's a brought color. major relevance we're major of right. but now. role related I other is issues a expert a fabric on and risk our think have the there little because and print and that's are terms in of is who's hand a just couple No, to that product, and of the White quality we fabrication,

Operator

Trussell Bank. with comes Deutsche Please question Paul next The from ahead. go

Gabby Carbone

Carbone taking on our for Gabby This Thanks is question. Paul. for

blur, between we’re discuss you so So to wondering if what could stores. continues online versus just the I line and stores you trends online in channel understand the saw

Todd Vogensen

lot low trended during crossover two. well something So initiatives Gabby was very with increase certainly a something the online ending more quarter are the getting of, double so that we're between our sales proud up that of a we and was digit that

ship right we buy So now have store. from online

something to extent can maybe are and store So is it center in to and the harder in harder distribution of ship product going to that's it definitively is make that to available can you initiative we things not just our as increasing with I you. and online, you and and it say what find what Those traffic think I stores stronger sale online strong common can across an online that's or comment been expect overall would store a now. in a at you is retail has But than an for very say sale. that right rate much types

Gabby Carbone

from quick follow up a top a line Just perspective. on

then perspective And in partnership the how TellTale. seen you've from QVC and customer done Soma. a about wondering you're of just with thinking the launch what Just the have with you Amazon the past

Todd Vogensen

Amazon for Sure, party would third so some say of and and I our QVC relationships.

We planned. are that is with in line what we success seeing right had

talked seeing going out sales, material seeing those not to businesses but encouraging. about we before sales we be we've flow and good those which of customer are is coming As are are this are sales year new good

of to initial online terms I very we would that is say flow just terms particularly good or traffic ahead of in get for those financial I indicate want right only of overall that too ourselves far brand would businesses. else early, TellTale, seen In was so early for a now. it results launched anything results It have wouldn't is I customer

come to more that So one. on

Operator

question-and-answer concludes Brooks for the remarks. conference now would I This Bonnie our back any session. closing to to over turn like

Bonnie Brooks

Thank you Anita. much very

Okay, shareholders. our do all is to business the conclusion you and steps not appropriate are for as you it better We for I required growth hope company to of and your our have much thank enhance and gathered questions. from usual. In of comments our well, value all we taking can that this know our discussion committed and

today. it. thank and We appreciate for for really us joining you So your time

Operator

today's attending conference This you presentation. for concluded. not has Thank

now may disconnect. You

Chico's Fas (CHS) 11 Jun 192019 Q1 Earnings call transcript