CHS - Why Chico's Stock Jumped This Week
Chico's (NYSE: CHS) investors trounced the market this week. Shares were up 24% through Thursday trading, according to data provided by S&P Global Market Intelligence . The S&P 500 gained 0.3% in that time.
The rally added to solid gains for owners of the fashion retailer, whose shares are up 20% in the past full year. It was sparked by a warm reception to Chico's fiscal fourth-quarter earnings update.
Sales in Q4, which ended in late January, rose 6%, beating management's goal for the quarter. Growth in Chico's apparel segment was especially strong, executives said, as new releases sparked higher demand. "Customers responded to our elevated fashion and product offerings," CEO Molly Langenstein said in a press release.
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Why Chico's Stock Jumped This Week