Chicos Doubles Its Quarterly Profit

NEW YORK -- Chico's FAS Inc. said Wednesday its second-quarter profit rose to $30.5 million, or 17 cents a share, from $14.9 million, or 8 cents a share, in the year-ago period. The Fort Myers, Fla., retailer said sales grew 10.8% to $465 million from $419.9 million. Analysts polled by FactSet Research had expected earnings of 16 cents a share, on average, with sales of $465.8 million. Chico's recently announced a stock buyback program of up to $200 million. Shares of Chico's rose about 1% premarket to $8.50. Copyright © 2010 MarketWatch, Inc.