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

Business Editors

FORT MYERS, Fla.--(BUSINESS WIRE)--Nov. 1, 2000

Chico's FAS, Inc. (Nasdaq: CHCS) today announced October sales results for the four week period ended October 28, 2000.

Total sales for the four week period ended October 28, 2000 increased 80.3 percent to $22.9 million from $12.7 million reported for the four week period ended October 30, 1999. Comparable store sales for the Company-owned stores increased 44.3 percent for the four week period ended October 28, 2000.

Total sales for the third quarter ended October 28, 2000 increased 72.4 percent to $69.0 million from $40.0 million for the same period a year ago. Comparable store sales for the Company-owned stores increased 39.1 percent for the thirteen week period.

For the thirty-nine weeks ended October 28, 2000, total sales increased 64.6 percent to $186.3 million from $113.2 million for the same period in 1999. Comparable store sales for the Company-owned stores increased 34.9 percent for the thirty-nine week period.

Marvin Gralnick, Chico's Chairman and CEO states, "With the continuing growth of our Passport Club, the success of our monthly catalogs and the response to our national ads, we are confident our same store and overall sales will remain strong in the fourth quarter. At the beginning of fiscal 2001, we estimated opening between 45-50 new stores. We have currently opened 35 stores and expect to open 14-17 more stores bringing our total at fiscal year end to approximately 250 stores. For fiscal 2002, we are expanding our new store opening program to between 50-55 new stores and we are currently estimating opening between 55-60 new stores in fiscal 2003."

Chico's sells exclusively designed, private-label women's casual clothing and related accessories. The Company operates a chain of 233 stores in 39 states and the District of Columbia. The Company owns 223 stores, franchisees own 10.

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.

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