Chico's earnings, sales climb in Q3

Fort Myers, Fla. Chico's FAS reported on Wednesday that its profit grew in the third quarter, helped by strong sales at both its White House Black Market and Chico's/Soma stores

The company earned $22.7 million up sharply from $2 million in the same period a year earlier, while sales rose 13% to $446.9 million from $394.2 million. Sales rose at White House Black Market and Chico's/Soma stores, and in direct-to-consumer sales.

Same-store sales rose 12.8% in the quarter.

Inventory declined, but selling, general and administrative expenses increased.

Chico's brand currently operates 608 boutique and 43 outlet stores, and White House Black Market operates 331 boutique and 16 outlet stores.