Revenue during the quarter dropped 7.52 percent to $596.91 million from $645.43 million in the previous year period. Gross margin for the quarter contracted 2 basis points over the previous year period to 38.58 percent. Operating margin for the quarter period stood at positive 5.21 percent as compared to a negative 3.99 percent for the previous year period.

Operating income for the quarter was $31.12 million, compared with an operating loss of $25.74 million in the previous year period.

Shelley Broader, chief executive officer and president, said, "Our third quarter earnings exceeded expectations. As a result of our efforts to transform Chico's FAS for the future, we were able to achieve significant earnings growth and are demonstrating considerable progress toward our goal of double digit operating margin. We are fully engaged in the implementation of our cost reduction and operating efficiency initiatives, and our continued progress reinforces our confidence in the company’s strategic plan. The improvements across the organization, additional recent hires, customers’ positive response to new merchandising initiatives, and other brand specific actions underway are re-energizing the company and fortifying our foundation for revenue and earnings growth and sustainable value creation."

The company has spent $35.87 million cash to meet investing activities during the nine month period as against cash inflow of $12.64 million in the last year period

The company has spent $118.08 million cash to carry out financing activities during the nine month period as against cash outgo of $184.88 million in the last year period.

Cash and cash equivalents stood at $80.33 million as on Oct. 29, 2016, down 11.97 percent or $10.92 million from $91.26 million on Oct. 31, 2015.

Debt comes down
Chico's FAS, Inc. has recorded a decline in total debt over the last one year. It stood at $84.77 million as on Oct. 29, 2016, down 10.49 percent or $9.93 million from $94.70 million on Oct. 31, 2015.