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Chico’s Q1 profit climbs amid cost cutting


Fort Myers, Fla. Chico's FAS said Wednesday first-quarter net income rose 14% to $14.5 million from $12.7 million ago period as the chain reduced expenses and saw increased sales at its White House|Black Market stores. The results beat analysts’ estimates.

Sales rose to $410.6 million from $409.6 million, with a boost from improved White House|Black Market sales and its direct-to-consumer business. Same-store sales fell 3.2% in the quarter. White House|Black Market same-store sales climbed about 4%, while the company's namesake same-store sales dropped approximately 6%.

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