Chico’s Q2 beats expectations
Fort Meyers, Fla. -- Chico's FAS Inc.'s second-quarter net income surged a better-than-expected 22% amid increased sales across its brands. The retailer, which has now topped analyst estimates for the last three quarters, raised the low-end of its 2012 revenue outlook, citing its performance for the first half of the year.
Chico's earned $52.4 million for the period ended July 28, compared with $42.8 million in the same period last year.
Revenue rose 16% to $641.7 million, from $551.4 million. Boston Proper, a direct-to-consumer company that Chico’s acquired in September, contributed $32.6 million in sales.
Same-store sales increased 5.6%, with Chico's/Soma Intimates brands up 7.2% and White House | Black Market sales were up 2.3%.