Chico's FAS, INC
Analysis of Equity, Cash Flows, Notes to Financial Information and Other Financial information Report to Scott Edmonds President and CEO
Chico's FAS, Inc. (NYSE: CHS) is a retailer of high-end women's apparel designs, sources and retails unique brands of trendy women's sophisticated and casual fashion Chico's started in 1983, after the acquisition of White House / Black Market in 2003 they have over 571 stores in 46 states, Washington DC, Puerto Rico and the Virgin Islands. The company competes with giants such as Federated Department stores, and similar sized chains such as Ann Taylor and Talbots. We examined the company's 2003 10K filing for their fiscal year ending January 31, 2004. Our report will analyze the Statement of Cash Flows, Statement of Changes in Stockholder's (Owner's) Equity, Important Notes to Consolidated Financial Statements, and Explanations of Other Financial Information. We feel the information demonstrates that Chico's has been laying the foundations for a profitable 2004.
IBM's revenue and net income
Net income
Sun-Rype Net IncomeStatement of Cash Flows
The statement of Cash Flows (page 18 on attached 10K) is divided into three sections, Net cash provided by operating activities, Net cash used in investing activities, and Net cash provided by financing activities. From February 1, 2003 through January 31, 2004, the net increase in cash and cash equivalents increased by nearly $7MM. or 79%. Net cash provided by operating activities is comprised of Net Income plus adjustments.
Chico's FAS amounts expressed in thousands
Statement of Cash Flows 2004 2003 $$ Change % Change
Net Income 100,230 66,759 33,471 50.14%
Adjustments to reconcile net income to net cash
Depreciation CGS 1,970 1,093 877 80.24%
Depreciation Other 21,130 15,050 6,080 40.40%
Deferred Tax expense (benefit) 1,336 -1,651 2,987 -180.92%
Tax benefit of Options Exercised 15,126 22,549 -7,423 -32.92%
Deferred Rent 1,874 1,482 392 26.45%
Loss on impairment...