Good Times At Chico’s (CHS)

Chico's FAS, Inc’s (NYSE: CHS) fiscal second-quarter profit more than doubled, beating analysts' estimates, as revenue jumped and margins expanded. Chico’s also announced a stock-buyback effort worth $200 million, with the retailer joining the bandwagon of corporations making similar moves. CHS’ market cap is around $1.50 billion.

For the quarter ended July 31, Chico's posted a profit of $30.5 million, or $0.17 a share, up from $14.9 million, or $0.08 a share, a year earlier. Revenue rose 11% to $465.4 million, as same-store sales grew 6.4%, capitalizing on last year's 1.3% increase. Analysts polled by Thomson Reuters forecast earnings of $0.16 on $468 million in revenue.

Gross margin expanded to 55.7% from 55%, boosted by the performance at the White House/Black Market outlets.
CHS is trading at $9.30, up 10.58% from its previous close of $8.41.

Read more from Benzinga's Company news.