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.