By
Reuters
Published
May 16, 2012
Download
Download the article
Print
Text size

Chico's Q1 beats on robust sales

By
Reuters
Published
May 16, 2012

Women's apparel retailer Chico's FAS Inc reported better-than-expected quarterly results, boosted by strong sales at all its brands and the opening of new stores.


Photo: Chico's


Same-store sales grew 9.6 percent in the first quarter, while square footage increased 8 percent.

Shares of the company, which owns brands like White House/Black Market, Soma Intimates and Boston Proper in addition to its namesake chain, rose about 8 percent to $15.77 before markets opened on Wednesday. They had closed at $14.66 on Tuesday on the New York Stock Exchange.

First-quarter net income rose to $53.6 million, or 32 cents per share, from $45.9 million, or 26 cents per share, last year.

Sales rose about 21 percent to $650.8 million.

Analysts on average had expected earnings of 30 cents per share on revenue of $629.5 million, according to Thomson Reuters I/B/E/S.

© Thomson Reuters 2024 All rights reserved.