Chico's Q1 net income and net sales decline

For the thirteen weeks ended May 4, 2019, Chico’s reported net income of 2 million dollars or 2 cents per diluted share compared to 29 million dollars or 23 cents per diluted share, for the first quarter last year. The company reported first quarter adjusted net income of 5.6 million dollars or 5 cents per diluted share. The company said, net sales were 517.7 million dollars, down 7.8 percent reflecting a comparable sales decline of 7 percent as well as the impact of 41 net store closures since last year's first quarter.