Chico's: Blame it on wheels

Ladies have been buying cars instead of outfits.

And it shows, at least when it comes to Chico's bottom line.

Fort Myers-based women's retailer Chico's FAS recently reported second-quarter earnings fell 18% compared with the same period one year ago. In a conference call with analysts, Chico's CEO David Dyer says women are buying big-ticket items like cars instead of shopping for apparel.

“I just think that perhaps some of the customers are spending on more major purchases right now,” Dyers says, according to a transcript posted on SeekingAlpha.com. “And I think that this too will pass. She can't wait too long before she needs a new outfit.”

We say she should have both.