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Chico's doubles profit in Q2


Fort Myers, Fla. Chico's FAS reported Tuesday that its profit more than doubled in the second quarter, helped by stronger sales and trimmed inventory.

The retailer earned $14.9 million for the period ended Aug. 1, up from $6.7 million a year earlier.

Sales rose 4.0% to $419.9 million on increased sales at White House|Black Market and Chico's/Soma stores, as well as a sharp rise in direct-to-consumer sales. The results surpassed Wall Street's estimate of $416.7 million.

Same-store sales edged up 1.3% during the quarter, with Chico's/Soma same-store sales gaining about 0.4% and White House|Black Market same-store sales rising 3.7%.

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