Why Shares of Chico's FAS Are Up Today
Shares of Chico's FAS (NYSE: CHS) jumped more than 10% on Tuesday after the women's apparel retailer reported better-than-expected third-quarter results. The company's shares have been in a free fall, down nearly 70% over the past three years, but management sees the latest quarterly results as a sign that its turnaround plan is beginning to gain traction.
Chico's on Tuesday morning reported an adjusted loss of $0.04 per share, ahead of the estimate of a $0.06-per-share loss, on revenue of $484.7 million, which was $11 million above expectations and up 3% year over year. Comparable sales improved by 10% sequentially at White House Black Market, and by 2% at Chico's, thanks to product assortment adjustments and better presentation.
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Source Fool.com
