Chico's posts quarterly loss

FORT MYERS — Women's retailer Chico's FAS posted a net loss of $28.5 million in the third quarter after taking a charge related to its acquisition of Boston Proper.

Chico's says it took a $72.5 million noncash charge for goodwill and trade name impairments related to Boston Proper. Chico's acquired Internet women's retailer Boston Proper in September 2011 and has opened stores under that brand name. “These impairment charges were the result of recent sales declines in the Boston Proper catalog business due to the increasingly competitive direct-to-consumer environment and the impact of integration efforts and new initiatives,” the company says in a statement.

Meanwhile, sales at stores opened one year or longer fell 1.4% in the third quarter. The company says that reflected reduced customer traffic and relatively strong sales in the same quarter last year. Total net sales were $655.6 million, a 3% increase over the third quarter of 2012, reflecting the opening of 115 new stores.