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Wednesday, November 18, 2009
Chico's Shares Rally on Higher 3Q Profit, Margins
By Kathryn Glass
FOXBusiness
Women’s apparel retailer Chico’s FAS Inc. (CHS) Wednesday reported better-than-expected results and strong same-store sales in the fiscal third quarter.
The retailer saw profit of $22.7 million, or 13 cents a share, during the quarter, compared to profit of $2 million, or a penny per share, in the year-ago period.
Revenue rose 13% to $446.9 million, compared to sales of $ 394.2 million a year ago
Analysts were expecting earnings of 7 cents per share on revenue of $415 million, according to a poll by Thomson Reuters.
Gross margins improved to 57.6%, compared to 53.6%, while same-store sales rose 12.8%.
Shares of Chico’s rose $1.19, or 8.8%, in Wednesday’s session to close at $14.67. The stock was up another 4% in trading after-hours.
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