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FORT MYERS — Chico's FAS Inc. reported today that its fourth quarter profit rose 25% over last year.
Shares of the firm (symbol: CHS) were up more than $1.50 a share in morning trading. The firm closed Tuesday at $12.81 a share.
The women's apparel retailer posted a profit of $25.1 million in the fourth quarter, or 15 cents a share, according to the earnings statement. That's up from $20.7 million, or 12 cents a share, in the previous fourth quarter. And for the 2011 fiscal year, which also ended Jan. 28, the firm reported a net income of $144.4 million, or 84 cents a share. That's up from $115.4 million, or 64 cents a share, in fiscal 2010.
Net sales were up for the fourth quarter, too, from $475 million last year to $569.2 million in the most recent period. That's a 19.8% increase.
The one slide in the earnings report was a slight drop in quarterly gross margins, which fell from 53.2% to 52.3%. The firm attributed the decrease to “traffic-driving promotions” and the inclusion of results from Boston Proper, a women's clothing company Chico's bought last year.
The Chico's brands include its namesake stores, White House | Black Market, Soma Intimates and Boston Proper.
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