Dear Shareholders,
SALES GROWTH
2012 was a gratifying year for Chico’s FAS, Inc. We delivered record sales and earnings, amid a broad range of other positive outcomes: Comparable sales increased 7.2%, marking our fourth consecutive year with comp sales improvements of 7% or greater. Earnings per share increased 32%, resulting in a record $1.08, our fourth consecutive year of double-digit increases in earnings per share.
$2600 $2196 $2080
And, via dividends and share repurchases, we returned $142 million in excess cash to shareholders. It was also a year in which we deepened our foundation for long-term growth, successfully executing against our four strategic pillars: organic growth through store-base expansion, innovative omni-channel marketing, shared-services expense leverage, and optimizing our brands’ potential. In addition, I am especially proud of the caliber of our people, whose dedication to Most Amazing Personal Service has been the not so secret sauce behind our success over the years. As we look to the future, we will continue to make prudent investments, consistent with our long-term strategic growth plan. In 2013, these will include bolstering ever further our omni-channel capabilities, launching White House | Black Market
$1905 $1713
$1560 $1040
7.6%
FY09
David F. Dyer President and CEO March 20, 2013
FY10
FY11
7.2%
FY12
Comp%
OPERATING INCOME % 12.0%
11.1% 9.3%
9.6% 7.2%
10.1%
6.3%
4.8% 2.4% 0.0
FY09
FY10
FY11
FY12
EARNINGS PER SHARE $1.08
$1.10 $0.95
$.82
$0.78
$0.47
Sincerely,
8.2%
Sales
$.64
$0.63
2013 marks a year of celebration at our company: the 30th anniversary of the Chico's brand and Chico’s FAS, Inc. On behalf of our Board of Directors and our 22,100 impassioned associates, I thank you for your support, past and future.
8.3%
$520 $0
accelerated expansion of the White House | Black Market brand. All of our brands introduced compelling and innovative fashion and fabrications: Chico's So Slimming Pants Collection, White House | Black Market's Work Kit and Perfect Form fabric, Soma's Embraceable Bra Collection, and Boston Proper's All The Right Curves Denim are but a few examples. Boston Proper's distribution, systems and reporting processes were successfully integrated into Chico’s FAS, Inc.
$2581
$.39
$0.31 $0.16 $0.00
FY09
FY10
FY11
FY12