Why Did Chico's FAS, Inc. Shares Gain 16% in September?

Why Did Chico's FAS, Inc. Shares Gain 16% in September?

In the current challenging retail market, investors reward any chain that shows any sort of stability. Chico's FAS (NYSE: CHS) may not be doing overly well, but it saw its earnings increase despite a drop in sales.

The retailer reported solid Q2 earnings going from $0.17 per share in 2016 to $0.17 this year. That built on the company's first-quarter results, and it now has earnings per share (EPS) of $0.44 in 2017, up from $0.41 in 2016.

Comparable sales, however, were down across all of the company's brands. White House Black Market saw comps drop by 10.6%, while Chico's fell by 9% and Soma dropped a relatively small 1.8%. Overall comparable store sales were down 8.4% across the entire company.

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Source: Fool.com