By  on December 5, 2007

Women's apparel retailer Chico's FAS Inc. posted a 44 percent plunge in third-quarter earnings, hurt by sluggish same-store sales and higher markdowns.

For the three months ended Nov. 3, net income fell to $23.6 million, or 13 cents a diluted share, from $42.1 million, or 24 cents, in the year-ago period as sales rose 3.4 percent to $415.9 million from $402.2 million. Total same-store sales dropped 9.3 percent.

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