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chico's FASĀ NEWS RELEASE Chico's FAS , Inc. Reports First Quarter Results 6/8/2021 FORT MYERS , Fla . , June 8 , 2021 / PRNewswire / -- • Total Company first quarter sales increased 38.4 % • Soma's extraordinary sales continued and increased 65 % Gross margin improved to 32.7 % • SG & A expense remained flat and declined sequentially Liquidity remains strong with cash and marketable securities of $ 102.4 million with no additional borrowings Chico's FAS , Inc. ( NYSE : CHS ) ( the " Company " or " Chico's FAS " ) today announced its financial results for the fiscal 2021 thirteen weeks ended May 1 , 2021 ( the " first quarter " ) . ● Comparisons to Q1 2020 ● " Our first quarter results underscore the tremendous progress we are making in our turnaround strategy and the power of our three unique brands and being a digital - first , customer - led company , " said Molly Langenstein , Chico's FAS Chief Executive Officer and President . " The strong first quarter performance across all three brands was fueled by our significant improvements in product and marketing , which drove full price selling . Our momentum started in the fourth quarter of fiscal 2019 , stalled by the pandemic , is now back on track to deliver meaningful growth in the years to come . Soma® , which posted a 65 % sales increase over last year's first quarter , remains on track to be one of the largest intimate apparel brands in the country . At Chico's® and White House Black Market® , elevated styling and quality are leading to faster sell through rates and customer enthusiasm . Operating discipline , strategically planned inventories and the ongoing benefit of cost actions , are further expanding margins and contributing to our return to profitable growth . 1