Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Chico's Stock Soared Today

TheMotleyFool

0 0

Shares of Chico's FAS (NYSE: CHS) were up 11.6% as of 11:30 a.m. EDT Thursday after the clothing retailer increased its fourth-quarter outlook.

Chico's now expects both Q4 net sales and comparable-store sales to be roughly flat on a year-over-year basis, up from management's previous guidance -- which was provided in late November -- for a low-single-digit decline. Chico's also said gross margin should be flat compared to the same year-ago period at roughly 32.3%, improved from old guidance for a decline of 100 to 150 basis points. And its sales, general, and administrative expenses should arrive at the lower end of the company's previous $5 million to $7 million target.

IMAGE SOURCE: GETTY IMAGES

Source Fool.com

Like: 0

CHS

Share