As results of 2nd quarter start to filter in it isn’t that great news for companies like women’s clothing retailer Chico’s Fas Inc. On Tuesday the company announced that its profit dropped by a whooping 83% in the 2nd quarter.

The company cited reasons such as customer cutting in spend and therefore lower sales. In terms of sales they saw a fall of 7 percent to $405.2 million from $436 million.

The official statement from the company said “The retail environment continues to be challenging as customers remain increasingly cautious in their spending across the entire retail sector, especially in the missy category,” said Chief Executive Scott Edmonds, referring to the category of retailers that target mature women.