Chico's FAS, Inc. Announces December Sales Results.

Business Editors

FORT MYERS, Fla.--(BUSINESS WIRE)--Jan. 3, 2001

Chico's FAS, Inc. (Nasdaq: CHCS) today announced December sales results for the five week period ended December 30, 2000.

Total sales for the five week period ended December 30, 2000 increased 65.2 percent to $28.8 million from $17.4 million reported for the five week period ended January 1, 2000. Comparable store sales for the Company-owned stores increased 34.2 percent for the five week period ended December 30, 2000.

For the forty-eight weeks ended December 30, 2000, total sales increased 63.0 percent to $236.6 million from $145.1 million for the same period in 1999. Comparable store sales for the Company-owned stores increased 33.3 percent for the forty-eight week period.

Marvin Gralnick, Chico's Chairman and CEO states, "We are thrilled with December sales which is our biggest month in our Company's history. We continue to gain market share as we dramatically increase our customer base. Considering the generally poor retail environment at year end and increased promotional pricing, we were pleased to see steadily improving same store sales during the Christmas season. The 34.2 percent same store sales for the month helped to offset the impact of the pressure on our gross margins, thus allowing us to remain confident that we will be able to meet our internal per share earnings goal of $.25 - $.28 for the fourth quarter compared to $.18 for the same quarter last year."

Chico's sells exclusively designed, private-label women's casual clothing and related accessories. The Company operates a chain of 245 stores in 39 states and the District of Columbia. The Company owns 234 stores, franchisees own 11.

Certain statements contained herein, including without limitation, statements addressing the beliefs, plans, objectives, estimates or expectations of the Company or future results or events constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements involve known or unknown risks, including, but not limited to, general economic and business conditions, and conditions in the specialty retail industry. There can be no assurance that the actual future results, performance, or achievements expressed or implied by such forward-looking statements will occur. Users of forward-looking statements are encouraged to review the Company's latest annual report on Form 10-K, its filings on Form 10-Q, management's discussion and analysis in the Company's latest annual report to stockholders, the Company's filings on Form 8-K, and other federal securities law filings for a description of other important factors that may affect the Company's business, results of operations and financial condition. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that projected results expressed or implied in such statements will not be realized.

For more detailed information, please call 877/424-4267 to listen to Chico's monthly sales information and investor relations line

A copy of a slide show addressing Chico's recent financial results and current plans for expansion is available on the Chico's website at http://www.chicos.com in the investor relations section

For additional information on Chico's FAS, Inc. free of charge via the Internet, please go to http://tirc.com/invest/chicos/index.htm