CHICO'S FAS ANNOUNCES SECOND QUARTER EARNINGS AND JULY SALES RESULTS.

FT. MYERS, FL, Aug. 3, 1995--(BUSINESS WIRE)--Chico's FAS, Inc. (Nasdaq:CHCS) today announced earnings for the second quarter and six months ended July 2, 1995 and comparable store sales for the four week period ended July 30, 1995.

Net income for the quarter was approximately $704,000, or $0.09 per share, down from $1.6 million or $0.20 per share, for the same period in 1994. Net sales for the quarter were $15.5 million versus $16.0 million reported for the second quarter in 1994. Comparable store sales for the Company-owned stores decreased 17.2% for the period.

For the first six months ended July 2, 1995, net income was approximately $890,000 or $0.11 per share, down from $3.0 million or $0.37 per share last year. Net sales for the period were $30.2 million versus $29.9 million reported for the first six months in 1994. Comparable store sales for the Company-owned stores decreased 15.1% for the period.

In addition, the Company announced that total sales for the four week period ended July 30, 1995 increased by 10.5% to $4.9 million versus $4.4 million for the same period a year ago. Comparable store sales for the Company-owned stores decreased 4.8% for the four week period, and 13.8% for the 30 week period ended July 30, 1995.

Marvin Gralnick, Chief Executive Officer and Chairman, commented, "We are pleased with the improvement in our gross margin and profitability levels considering that we are still in the early stages of our plan to refocus our Company's sales and marketing strategy. The addition in late July of Melissa Payner-Gregor as our Senior Vice President/General Merchandise Manager, is a significant step in this plan as she will help us in assessing our price points, inventory mix and field operations."

Mr. Gralnick continued, "As reflected in the continued improvement of our comparable store sales, we have already seen the benefit from the introduction of new designs and styles begun in May 1995."

Chico's sells exclusively designed, private-label women's casual clothing and related accessories. The Company operates a chain of 124 stores in 30 states and the District of Columbia. The Company owns 112 stores, franchisees own 12. -0-

                             CHICO'S FAS, INC.
                         CONDENSED BALANCE SHEETS

                                            As of       As of
                                          07/02/95    01/01/95
                                         (Unaudited)

 ASSETS

Current Assets:
  Cash and cash equivalents              $ 1,221,172 $   805,979
  Receivables, net                           626,423   1,099,784
  Inventories                              6,250,172   6,555,897
  Prepaid expenses                           268,536     307,483
  Deferred taxes                           1,157,000   1,153,000
       Total Current Assets                9,523,303   9,922,143
Land, Building and Equipment:
  Cost                                    19,923,581  19,249,297
  Less accumulated depreciation and
   amortization                           (3,229,618) (2,613,427)
       Land, Building and Equipment, net  16,693,963  16,635,870
Other Assets:
  Deferred taxes                             493,000     557,000
  Other assets                               710,809     236,763
       Total Other Assets                  1,203,809     793,763
                                         $27,421,075 $27,351,776

                   LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities:
  Accounts payable                       $ 2,633,694 $ 3,273,430
  Note and credit line payable to bank     1,821,471   1,500,000
  Accrued liabilities                      3,160,925   2,824,503
  Accrued income taxes                       327,220         ---
  Current portion of notes payable and
   lease obligations                         735,590     864,686
       Total Current Liabilities           8,678,900   8,462,619
Noncurrent Liabilities:
  Notes and capital leases payable         2,364,036   2,543,574
  Credit line payable                            ---     826,837
  Deferred rent                            1,253,895   1,292,711
       Total Noncurrent Liabilities        3,617,931   4,663,122
Stockholders' Equity:
  Common stock                                77,770      77,753
  Additional paid-in capital               7,066,539   7,058,389
  Retained earnings                        7,979,935   7,089,893
       Total Stockholders' Equity         15,124,244  14,226,035
                                         $27,421,075 $27,351,776

                                  CHICO'S FAS, INC.
                  CONDENSED STATEMENTS OF INCOME (UNAUDITED)

                         Twenty-Six Weeks Ended  Thirteen Weeks Ended
                         07/02/95    07/03/94    07/02/95   07/03/94

Net Sales By Company
 Stores                 $28,686,466 $27,822,869 $14,666,280 $14,911,511
Net Sales To
 Franchisees              1,500,704   2,079,220     860,916   1,068,988
Net Sales                30,187,170  29,902,089  15,527,196  15,980,499
Cost of Goods Sold       13,210,664  10,583,258   6,345,841   5,712,576
Gross Profit             16,976,506  19,318,831   9,181,355  10,267,923
General, Administrative
 and Store Operating
 Expenses                15,172,239  14,387,141   7,852,066   7,559,003
Income From
 Operations               1,804,267   4,931,690   1,329,289   2,708,920
Interest Expense
 (Income), Net              289,226      12,670     132,665      (1,262)
Income Before Taxes       1,515,041   4,919,020   1,196,624   2,710,182
Provision for Income
 Taxes                      625,000   1,938,000     493,000   1,065,000
Net Income              $   890,041   2,981,020  $  703,624 $ 1,645,182
Net Income per common
 and common
 equivalent share       $      0.11   $    0.37  $     0.09  $     0.20
Weighted average
 common and common
 equivalent shares
 outstanding              7,897,992   8,053,758   7,865,336   8,072,982

CONTACT: Charles Kleman

Chief Financial Officer

941-277-6200

OR

IR CONTACT: David Walke/Howard Zar/

Shannon Moody

PRESS CONTACT: Lisa Bradlow

Morgen-Walke Associates

212/850-5600