Shares of Chico’s FAS Inc. surged 7.6 percent Tuesday after it said second-quarter profits more than doubled on gains in both net sales and same-store sales, and projected more top-line growth ahead.
The Fort Myers, Fla.-based misses’ specialty retailer recorded net income of $14.9 million, or 8 cents a diluted share, in the three months ended Aug. 1. A year ago, the firm’s quarterly profits totaled $6.7 million, or 4 cents a share. Excluding impairment charges, its earnings per share equaled 10 cents, on par with the average estimate of analysts polled by Yahoo Finance.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"