EX-99.2 3 exhibit992bpreconciliation.htm EXHIBIT 99.2 Exhibit
Exhibit 99.2

The Company reports its consolidated financial results in accordance with generally accepted accounting principles (GAAP). However, to supplement these consolidated financial results, management believes that certain non-GAAP results, which exclude results from non-continuing operations, may provide a more meaningful measure on which to compare the Company’s results of operations between periods. The tables below present a reconciliation of selected consolidated financial data on a GAAP basis to selected consolidated financial data on a non-GAAP adjusted basis, when excluding Boston Proper:
Chico's FAS, Inc. and Subsidiaries
Reconciliation of Reported to Adjusted Consolidated Financial Data,
Excluding Boston Proper
(Unaudited)
(in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Selected Consolidated Financial Data,
 As Reported
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Thirteen Weeks Ended
 
 
 
 Thirty-Nine Weeks Ended
 
 
May 2, 2015
 
August 1, 2015
 
October 31, 2015
 
 
 
October 31, 2015
 
 
Amount
 
% of Sales
 
Amount
 
% of Sales
 
Amount
 
% of Sales
 
 
 
Amount
 
% of Sales
Net sales
693,339

 
100.0%

 
680,352

 
100.0%
 
641,219

 
100.0%

 
 
 
2,014,910

 
100.0%
Gross margin
395,770

 
57.1%

 
365,968

 
53.8%
 
350,482

 
54.7%

 
 
 
1,112,220

 
55.2%
Selling, general and administrative expenses
328,217

 
47.4
%
 
308,437

 
45.3%
 
327,575

 
51.1%

 
 
 
964,229

 
47.9%
        Subtotal
67,553

 
9.7
%
 
57,531

 
8.5%
 
22,907

 
3.6%

 
 
 
147,991

 
7.3%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Boston Proper
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Thirteen Weeks Ended
 
 
 
 Thirty-Nine Weeks Ended
 
 
May 2, 2015
 
August 1, 2015
 
October 31, 2015
 
 
 
October 31, 2015
 
 
Amount
 
% of Sales
 
Amount
 
% of Sales
 
Amount
 
% of Sales
 
 
 
Amount
 
% of Sales
Net sales
23,782

 
100.0%

 
24,209

 
100.0%
 
17,312

 
100.0%

 
 
 
65,303

 
100.0%
Gross margin
10,478

 
44.1%

 
10,923

 
45.1%
 
5,826

 
33.7%

 
 
 
27,227

 
41.7%
Selling, general and administrative expenses
14,866

 
62.5%

 
14,163

 
58.5%
 
11,466

 
66.2%

 
 
 
40,495

 
62.0%
        Subtotal
(4,388
)
 
-18.4%

 
(3,240
)
 
-13.4%
 
(5,640
)
 
-32.6%

 
 
 
(13,268
)
 
-20.3%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Selected Consolidated Financial Data,
 Adjusted
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Thirteen Weeks Ended
 
 
 
 Thirty-Nine Weeks Ended
 
 
May 2, 2015
 
August 1, 2015
 
October 31, 2015
 
 
 
October 31, 2015
 
 
Amount
 
% of Sales
 
Amount
 
% of Sales
 
Amount
 
% of Sales
 
 
 
Amount
 
% of Sales
Net sales
669,557

 
100.0%

 
656,143

 
100.0%
 
623,907

 
100.0%

 
 
 
1,949,607

 
100.0%
Gross margin
385,292

 
57.5%

 
355,045

 
54.1%
 
344,656

 
55.3
%
 
 
 
1,084,993

 
55.7%
Selling, general and administrative expenses
313,351

 
46.8%

 
294,274

 
44.8%
 
316,109

 
50.7%

 
 
 
923,734

 
47.4%
        Subtotal
71,941

 
10.7%

 
60,771

 
9.3%
 
28,547

 
4.5%

 
 
 
161,259

 
8.3%