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Chico’s swings to Q3 profit
Things are looking up at Chico’s FAS. The women’s apparel retailer on Tuesday reported net income of $23.6 million for the third quarter, after reporting a net loss of $11.6 million in the same period a year earlier. Chico’s had a profit of 18 cents per share. Earnings, adjusted for one-time gains and costs, came to 20 cents per share. The results topped Wall Street expectations. -
Barnes & Noble puts the blame on election
Cost cuts help improve Barnes & Noble’s profitability in the third quarter even as its sales continued to decline. “While we are pleased to have improved our performance due to expense reductions, we did experience sluggish sales, which we believe are directly related to the election cycle,” said Len Riggio, chairman and CEO of Barnes & Noble. "With the election behind us, we hope and expect sales will improve over the holidays."