CHS - Chico's FAS provides 3-year financial targets ahead of Virtual Investor Day reaffirms Q1 and FY22 outlook

At its Virtual Investor Day, Chico's FAS (NYSE:CHS) plans to lay out its strategic plan and 3-year financial targets, supported by premier merchant capabilities, portfolio of three unique brands and powerful shared platform that connects physical, digital and social commerce. The company announced financial targets it plans to reach by FY24: Total revenues in excess of $2.5B, digital revenues in excess of $1B, Gross margin rate of 40% (+330 basis points from FY21); Operating margin of 7.5% (+380 basis points from FY21); EPS growth representing a CAGR of 15+% from FY21 and generation of ~$400M of cumulative cash flow from operations in the next three years. Chico's FAS affirmed its earlier announced outlook for 1Q FY22 and FY22. Read here.

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Chico's FAS provides 3-year financial targets ahead of Virtual Investor Day, reaffirms Q1 and FY22 outlook