DBI - Why Shares of Chico's FAS Were Tumbling Today
Shares of Chico's FAS (NYSE: CHS) plummeted 17% in morning trading Tuesday after the women's apparel retailer reported second-quarter earnings. The drop came even though the company returned to profitability, beat Wall Street's expectations, and raised full-year guidance.
It's not often businesses that handily beat analyst forecasts and raise their outlook are summarily beaten down by the market, but Chico's is not alone. Shoe retailer Designer Brands (NYSE: DBI) also posted analyst-beating earnings today, and it's down 10% this morning.
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Why Shares of Chico's FAS Were Tumbling Today