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Chico’s Profits Rise

Chico’s FAS Inc. posted a 26.8 percent gain in third-quarter earnings.

Chico’s FAS Inc. posted a 26.8 percent jump in third-quarter net income, helping it beat Wall Street estimates Wednesday.

 

For the quarter ended Oct. 30, the women’s apparel retailer recorded a profit of $28.8 million, or 16 cents a diluted share, compared with income of $22.7 million, or 13 cents a share, in the year-ago period.

 

Net sales increased 8.1 percent to $483 million, from $446.9 million, as quarterly same-store sales grew 3.1 percent.

 

Analysts surveyed by Yahoo were expecting earnings of 15 cents a share, on sales of $476.6 million.

 

For complete coverage, see Thursday’s WWD.