Net Income Up 23% in Second Quarter at Chico’s

Women’s apparel merchant Chico’s FAS enjoyed its second quarter as its net income soared 23%, to $53.4 million.

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For Chico’s, its net income for the second quarter ended July 28, 2012 was $10 million more than the same period last year.

Net sales rose 16.4%, to $641.7 million, up from $551.4 million. Same-store sales increased 5.6%.

For the 26 weeks ended July 28, 2012, Chico’s reported net income of $107.0 million, reflecting an increase of 20% compared to net income of $89.3 million in the same period last year.

Company officials forecast net sales for fiscal 2012 to be between $2.55 billion and $2.6 billion.

Abe Garver, principal at Focus Investment Banking, said “double-digit revenue growth for the fifth quarter in a row impressed me.

Jim Tierney (jim.tierney@penton.com) is a senior writer for Multichannel Merchant. You can connect with him on Twitter (TierneyMCM) and LinkedIn, or call him at 203-358-4265.

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