comparable sales is defined as sales from stores open for the preceding twelve months , including stores that have been expanded , remodeled or relocated within the same general market and includes online and catalog sales , and beginning in the third quarter of fiscal 2019 , includes international sales . the comparable sales calculation excludes the negative impact of stores closed four or more days and sales attributable to the fifty-third week in fiscal 2017. we believe comparable sales is a primary metric to measure the performance of our business as an increase in comparable sales can indicate improved operations at existing stores . furthermore , comparable sales often is used as an operational tool to help manage store count . gross margin as a percentage of net sales gross margin as a percentage of net sales is computed as gross margin divided by net sales . we believe gross margin as a percentage of net sales is a primary metric to measure the performance of our business as it is used to determine the value of incremental sales , and to guide pricing and promotion decisions . diluted earnings per share earnings per share is determined using the two-class method when it is more dilutive than the treasury stock method . basic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period , including participating securities . diluted earnings per share reflects the dilutive effect of potential common shares from non-participating securities such as stock options , performance stock units and restricted stock units . whereas basic earnings per share serves as an indicator of the company 's profitability , we believe diluted earnings per share is a primary metric provided it gauges the company 's quality of earnings per share assuming all potential common shares from non-participating securities are exercised . return on net assets rona is defined as ( a ) net income divided by ( b ) the “ five-point average ” ( based on balances at the beginning of the first quarter plus the final balances for each quarter of the fiscal year ) of net working capital less cash and marketable securities plus fixed assets . we believe rona is a primary metric as it helps to determine how well the company is utilizing its assets . as such , a higher rona could indicate that the company is using its assets and working capital efficiently and effectively . 24 current trends macroeconomic impacts the company has exposure to volatility of the macroeconomic environment due to political uncertainty and potential changes to international trade agreements , such as new tariffs imposed on certain chinese-made products imported to the u.s. during fiscal 2018 , the u.s. began to impose duties on certain chinese-made imported products . in may 2019 , the current administration announced an increase to the tariffs currently being imposed on certain imports from 10 % to 25 % , effective may 10 , 2019 , which was further increased to 30 % beginning on october 1 , 2019. in august 2019 , the administration announced plans to implement a tariff of 15 % on approximately $ 300 billion of products imported into the u.s. from china . on august 13 , 2019 , the list of goods subject to the tariff , referred to as list 4 , was divided into two parts . the tariffs for products on list 4a became effective as of september 1 , 2019 and the tariffs for imported goods on list 4b became effective december 15 , 2019. on february 14 , 2020 , the tariffs leveraged on items in list 4 and list 4a were reduced in half to 7.5 % . to minimize these increased tariffs , the company is actively engaging with its vendors on cost-sharing agreements , and managing and adjusting our forward buys and product pricing . the company also anticipates its sourcing initiatives will largely offset any incremental tariff impacts . other developments in recent days , the covid-19 outbreak in the united states has resulted in reduced customer traffic and the temporary reduction of operating hours for our stores as well as temporary store closures where government mandated . these recent developments are expected to result in lower sales and gross margin than provided in our previous outlook . results of operations net sales the following table depicts net sales by chico 's , whbm and soma in dollars and as a percentage of total net sales for fiscal 2019 , 2018 and 2017 : replace_table_token_6_th ( 1 ) may not foot due to rounding . ( 2 ) includes telltale net sales , which is not a significant component of soma revenue . for fiscal 2019 , net sales were $ 2.0 billion compared to $ 2.1 billion in fiscal 2018 . this decrease of 4.4 % reflects a comparable sales decline of 3.4 % as well as the impact of 77 net store closures since fiscal 2018 . the comparable sales decline was driven by lower average dollar sale and a decrease in transaction count . for fiscal 2018 , net sales were $ 2.1 billion compared to $ 2.3 billion in fiscal 2017. this decrease of 6.6 % reflects a comparable sales decline of 4.9 % , the $ 29 million benefit of the fifty-third week in fiscal 2017 and the impact of a 2.9 % net decrease in selling square footage in 2018. the comparable sales decline was driven by a decrease in transaction count and lower average dollar sale . the following table depicts comparable sales percentages for chico 's , whbm and soma for fiscal 2019 , 2018 and 2017 : replace_table_token_7_th 25 ( 1 ) fiscal 2018 comparable sales represent sales for the fifty-two weeks ended february 2 , 2019 compared to sales for the fifty-two weeks ended february 3 , 2018 . story_separator_special_tag forward-looking statements this form 10-k may contain certain “ forward-looking statements ” within the meaning of section 27a of the securities act of 1933 , as amended , and section 21e of the securities exchange act of 1934 , as amended , which reflect our current views with respect to certain events that could have an effect on our future financial performance , including but without limitation , statements regarding our plans , objectives , and the future success of our store concepts and business initiatives . these statements may address items such as future sales and sales initiatives , business strategies and strategic initiatives , customer traffic , gross margin expectations , sg & a expectations , including expected savings , operating margin expectations , earnings per share expectations , planned store openings , closings and expansions , proposed business ventures , new channels of sales or distribution , expected impact of ongoing litigation , future stock repurchase plans , future plans to pay dividends , future comparable sales , future product sourcing plans , future inventory levels , including the ability to leverage inventory management and targeted promotions , planned marketing expenditures , planned capital expenditures and future cash needs . these statements relate to expectations concerning matters that are not historical fact and may include the words or phrases such as “ will , ” “ should , ” “ expects , ” “ believes , ” “ anticipates , ” “ plans , ” “ intends , ” “ estimates , ” “ approximately , ” “ our planning assumptions , ” “ future outlook ” and similar expressions . except for historical information , matters discussed in this form 10-k are forward-looking statements . these forward-looking statements are based largely on information currently available to our management and on our current expectations , assumptions , plans , estimates , judgments and projections about our business and our industry , and are subject to various risks and uncertainties that could cause actual results to differ materially from historical results or those currently anticipated . although we believe our expectations are based on reasonable 32 estimates and assumptions , they are not guarantees of performance and there are a number of known and unknown risks , uncertainties , contingencies and other factors ( many of which are outside our control ) that could cause actual results to differ materially from those expressed or implied by such forward-looking statements . accordingly , there is no assurance that our expectations will , in fact , occur or that our estimates or assumptions will be correct , and we caution investors and all others not to place undue reliance on such forward-looking statements . factors that could cause or contribute to such differences include , but are not limited to , those described in item 1a , “ risk factors ” in this annual report on form 10-k and the following : the financial strength of retailing in particular and the economy in general ; the extent of financial difficulties or economic uncertainty that may be experienced by customers ; changes in the general or specialty or apparel industries ; significant shifts in consumer behavior ; our ability to secure and maintain customer acceptance of styles and in-store and online concepts ; the ability to leverage inventory management and targeted promotions ; the ability to effectively manage our inventory and allocation processes ; the extent and nature of competition in the markets in which we operate ; the ability to remain competitive with customer shipping terms and costs pertaining to product deliveries and returns ; the extent of the market demand and overall level of spending for women 's private branded clothing and related accessories ; the effectiveness of our brand strategies , awareness and marketing programs ; the ability to coordinate product development with buying and planning ; the quality and timeliness of merchandise received from suppliers ; changes in the costs of manufacturing , raw materials , transportation , distribution , labor and advertising ; the availability of quality store sites ; our ability to manage our store fleet and the risk that our investments in merchandise or marketing initiatives may not deliver the results we anticipate ; our ability to successfully navigate the increasing use of on-line retailers for fashion purchases and the pressure that puts on traffic and transactions in our physical stores ; the ability to operate our own retail websites in a manner that produces profitable sales ; the ability to successfully identify and implement additional sales and distribution channels ; the ability to successfully execute our business strategies and particular strategic initiatives ( including , but not limited to , the company 's revised organizational cost structure , retail fleet optimization plan and three operating priorities which are driving stronger sales through improved product and marketing ; optimizing the customer journey by simplifying , digitizing and extending the company 's unique and personalized service ; and transforming sourcing and supply chain operations to increase product speed to market and improve quality ) , sales initiatives and multi-channel strategies , customer traffic ; and to achieve the expected results from them ; the continuing performance , implementation and integration of management information systems ; the impact of any systems failures , cyber security or other data or security breaches , including any security breaches that result in theft , transfer , or unauthorized disclosure of customer , employee , or company information or our compliance with domestic and foreign information security and privacy laws and regulations in the event of such an incident ; the ability to hire , train , motivate and retain qualified sales associates , managerial employees and other employees ; the successful recruitment of leadership and the successful integration of new members of our senior management team ; uncertainties regarding future unsolicited offers to buy the company and our ability to respond effectively to them as well as to actions

liquidity and capital resources overview we believe that our existing cash and marketable securities balances , cash generated from operations , available credit facilities and potential future borrowings will be sufficient to fund capital expenditures , working capital needs , dividend payments , potential share repurchases , commitments and other liquidity requirements associated with our operations for the foreseeable future . furthermore , while it is our intention to repurchase our stock and pay a quarterly cash dividend in the future , any determination to repurchase additional shares of our stock or pay future dividends will be made by the board of directors and will depend on our stock price , future earnings , financial condition and other factors considered by the board . our ongoing capital requirements will continue to be primarily for enhancing and expanding our omnichannel capabilities , including expanded , relocated and remodeled stores ; information technology ; and supply chain . the following table summarizes cash flows for fiscal 2019 , 2018 and 2017 : replace_table_token_10_th ( 1 ) may not foot due to rounding . operating activities net cash provided by operating activities in fiscal 2019 was $ 33 million compared to $ 158 million for fiscal 2018 . this $ 125 million decrease primarily reflects lower fiscal 2019 net income , a decline in share-based compensation and investments in cloud computing arrangement ( `` cca '' ) service contracts and soma inventory to fund growth . net cash provided by operating activities in fiscal 2018 was $ 158 million compared to $ 167 million for fiscal 2017. this $ 9 million decrease primarily reflects a decline in fiscal 2018 net income and an increase in income tax receivables which was partially offset by the timing of vendor payments and payroll accruals , payments made in fiscal 2017 for outside services , the clearing of seasonal merchandise and the impact of lower incentive compensation payments .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources overview we believe that our existing cash and marketable securities balances , cash generated from operations , available credit facilities and potential future borrowings will be sufficient to fund capital expenditures , working capital needs , dividend payments , potential share repurchases , commitments and other liquidity requirements associated with our operations for the foreseeable future . furthermore , while it is our intention to repurchase our stock and pay a quarterly cash dividend in the future , any determination to repurchase additional shares of our stock or pay future dividends will be made by the board of directors and will depend on our stock price , future earnings , financial condition and other factors considered by the board . our ongoing capital requirements will continue to be primarily for enhancing and expanding our omnichannel capabilities , including expanded , relocated and remodeled stores ; information technology ; and supply chain . the following table summarizes cash flows for fiscal 2019 , 2018 and 2017 : replace_table_token_10_th ( 1 ) may not foot due to rounding . operating activities net cash provided by operating activities in fiscal 2019 was $ 33 million compared to $ 158 million for fiscal 2018 . this $ 125 million decrease primarily reflects lower fiscal 2019 net income , a decline in share-based compensation and investments in cloud computing arrangement ( `` cca '' ) service contracts and soma inventory to fund growth . net cash provided by operating activities in fiscal 2018 was $ 158 million compared to $ 167 million for fiscal 2017. this $ 9 million decrease primarily reflects a decline in fiscal 2018 net income and an increase in income tax receivables which was partially offset by the timing of vendor payments and payroll accruals , payments made in fiscal 2017 for outside services , the clearing of seasonal merchandise and the impact of lower incentive compensation payments .
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 Suspicious Activity Report : comparable sales is defined as sales from stores open for the preceding twelve months , including stores that have been expanded , remodeled or relocated within the same general market and includes online and catalog sales , and beginning in the third quarter of fiscal 2019 , includes international sales . the comparable sales calculation excludes the negative impact of stores closed four or more days and sales attributable to the fifty-third week in fiscal 2017. we believe comparable sales is a primary metric to measure the performance of our business as an increase in comparable sales can indicate improved operations at existing stores . furthermore , comparable sales often is used as an operational tool to help manage store count . gross margin as a percentage of net sales gross margin as a percentage of net sales is computed as gross margin divided by net sales . we believe gross margin as a percentage of net sales is a primary metric to measure the performance of our business as it is used to determine the value of incremental sales , and to guide pricing and promotion decisions . diluted earnings per share earnings per share is determined using the two-class method when it is more dilutive than the treasury stock method . basic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period , including participating securities . diluted earnings per share reflects the dilutive effect of potential common shares from non-participating securities such as stock options , performance stock units and restricted stock units . whereas basic earnings per share serves as an indicator of the company 's profitability , we believe diluted earnings per share is a primary metric provided it gauges the company 's quality of earnings per share assuming all potential common shares from non-participating securities are exercised . return on net assets rona is defined as ( a ) net income divided by ( b ) the “ five-point average ” ( based on balances at the beginning of the first quarter plus the final balances for each quarter of the fiscal year ) of net working capital less cash and marketable securities plus fixed assets . we believe rona is a primary metric as it helps to determine how well the company is utilizing its assets . as such , a higher rona could indicate that the company is using its assets and working capital efficiently and effectively . 24 current trends macroeconomic impacts the company has exposure to volatility of the macroeconomic environment due to political uncertainty and potential changes to international trade agreements , such as new tariffs imposed on certain chinese-made products imported to the u.s. during fiscal 2018 , the u.s. began to impose duties on certain chinese-made imported products . in may 2019 , the current administration announced an increase to the tariffs currently being imposed on certain imports from 10 % to 25 % , effective may 10 , 2019 , which was further increased to 30 % beginning on october 1 , 2019. in august 2019 , the administration announced plans to implement a tariff of 15 % on approximately $ 300 billion of products imported into the u.s. from china . on august 13 , 2019 , the list of goods subject to the tariff , referred to as list 4 , was divided into two parts . the tariffs for products on list 4a became effective as of september 1 , 2019 and the tariffs for imported goods on list 4b became effective december 15 , 2019. on february 14 , 2020 , the tariffs leveraged on items in list 4 and list 4a were reduced in half to 7.5 % . to minimize these increased tariffs , the company is actively engaging with its vendors on cost-sharing agreements , and managing and adjusting our forward buys and product pricing . the company also anticipates its sourcing initiatives will largely offset any incremental tariff impacts . other developments in recent days , the covid-19 outbreak in the united states has resulted in reduced customer traffic and the temporary reduction of operating hours for our stores as well as temporary store closures where government mandated . these recent developments are expected to result in lower sales and gross margin than provided in our previous outlook . results of operations net sales the following table depicts net sales by chico 's , whbm and soma in dollars and as a percentage of total net sales for fiscal 2019 , 2018 and 2017 : replace_table_token_6_th ( 1 ) may not foot due to rounding . ( 2 ) includes telltale net sales , which is not a significant component of soma revenue . for fiscal 2019 , net sales were $ 2.0 billion compared to $ 2.1 billion in fiscal 2018 . this decrease of 4.4 % reflects a comparable sales decline of 3.4 % as well as the impact of 77 net store closures since fiscal 2018 . the comparable sales decline was driven by lower average dollar sale and a decrease in transaction count . for fiscal 2018 , net sales were $ 2.1 billion compared to $ 2.3 billion in fiscal 2017. this decrease of 6.6 % reflects a comparable sales decline of 4.9 % , the $ 29 million benefit of the fifty-third week in fiscal 2017 and the impact of a 2.9 % net decrease in selling square footage in 2018. the comparable sales decline was driven by a decrease in transaction count and lower average dollar sale . the following table depicts comparable sales percentages for chico 's , whbm and soma for fiscal 2019 , 2018 and 2017 : replace_table_token_7_th 25 ( 1 ) fiscal 2018 comparable sales represent sales for the fifty-two weeks ended february 2 , 2019 compared to sales for the fifty-two weeks ended february 3 , 2018 . story_separator_special_tag forward-looking statements this form 10-k may contain certain “ forward-looking statements ” within the meaning of section 27a of the securities act of 1933 , as amended , and section 21e of the securities exchange act of 1934 , as amended , which reflect our current views with respect to certain events that could have an effect on our future financial performance , including but without limitation , statements regarding our plans , objectives , and the future success of our store concepts and business initiatives . these statements may address items such as future sales and sales initiatives , business strategies and strategic initiatives , customer traffic , gross margin expectations , sg & a expectations , including expected savings , operating margin expectations , earnings per share expectations , planned store openings , closings and expansions , proposed business ventures , new channels of sales or distribution , expected impact of ongoing litigation , future stock repurchase plans , future plans to pay dividends , future comparable sales , future product sourcing plans , future inventory levels , including the ability to leverage inventory management and targeted promotions , planned marketing expenditures , planned capital expenditures and future cash needs . these statements relate to expectations concerning matters that are not historical fact and may include the words or phrases such as “ will , ” “ should , ” “ expects , ” “ believes , ” “ anticipates , ” “ plans , ” “ intends , ” “ estimates , ” “ approximately , ” “ our planning assumptions , ” “ future outlook ” and similar expressions . except for historical information , matters discussed in this form 10-k are forward-looking statements . these forward-looking statements are based largely on information currently available to our management and on our current expectations , assumptions , plans , estimates , judgments and projections about our business and our industry , and are subject to various risks and uncertainties that could cause actual results to differ materially from historical results or those currently anticipated . although we believe our expectations are based on reasonable 32 estimates and assumptions , they are not guarantees of performance and there are a number of known and unknown risks , uncertainties , contingencies and other factors ( many of which are outside our control ) that could cause actual results to differ materially from those expressed or implied by such forward-looking statements . accordingly , there is no assurance that our expectations will , in fact , occur or that our estimates or assumptions will be correct , and we caution investors and all others not to place undue reliance on such forward-looking statements . factors that could cause or contribute to such differences include , but are not limited to , those described in item 1a , “ risk factors ” in this annual report on form 10-k and the following : the financial strength of retailing in particular and the economy in general ; the extent of financial difficulties or economic uncertainty that may be experienced by customers ; changes in the general or specialty or apparel industries ; significant shifts in consumer behavior ; our ability to secure and maintain customer acceptance of styles and in-store and online concepts ; the ability to leverage inventory management and targeted promotions ; the ability to effectively manage our inventory and allocation processes ; the extent and nature of competition in the markets in which we operate ; the ability to remain competitive with customer shipping terms and costs pertaining to product deliveries and returns ; the extent of the market demand and overall level of spending for women 's private branded clothing and related accessories ; the effectiveness of our brand strategies , awareness and marketing programs ; the ability to coordinate product development with buying and planning ; the quality and timeliness of merchandise received from suppliers ; changes in the costs of manufacturing , raw materials , transportation , distribution , labor and advertising ; the availability of quality store sites ; our ability to manage our store fleet and the risk that our investments in merchandise or marketing initiatives may not deliver the results we anticipate ; our ability to successfully navigate the increasing use of on-line retailers for fashion purchases and the pressure that puts on traffic and transactions in our physical stores ; the ability to operate our own retail websites in a manner that produces profitable sales ; the ability to successfully identify and implement additional sales and distribution channels ; the ability to successfully execute our business strategies and particular strategic initiatives ( including , but not limited to , the company 's revised organizational cost structure , retail fleet optimization plan and three operating priorities which are driving stronger sales through improved product and marketing ; optimizing the customer journey by simplifying , digitizing and extending the company 's unique and personalized service ; and transforming sourcing and supply chain operations to increase product speed to market and improve quality ) , sales initiatives and multi-channel strategies , customer traffic ; and to achieve the expected results from them ; the continuing performance , implementation and integration of management information systems ; the impact of any systems failures , cyber security or other data or security breaches , including any security breaches that result in theft , transfer , or unauthorized disclosure of customer , employee , or company information or our compliance with domestic and foreign information security and privacy laws and regulations in the event of such an incident ; the ability to hire , train , motivate and retain qualified sales associates , managerial employees and other employees ; the successful recruitment of leadership and the successful integration of new members of our senior management team ; uncertainties regarding future unsolicited offers to buy the company and our ability to respond effectively to them as well as to actions

