NEW YORK (TheStreet) --Shares of Chico's FAS Inc. (CHS) are lower by -5.18% to $15.19 at the start of trading on Wednesday, after the company reported a decline in 2014 second quarter net income to $30.1 million, or 20 cents per diluted share, from $43.6 million, or 27 cents per diluted share for the year ago quarter.
Analysts polled by Thomson Reuters expected the clothing and accessories retailer to post earnings of 26 cents per share for the most recent quarter.
However, the company's net sales increased 3.3% to $671.1 million, from $649.5 million for the 2013 second quarter, but fell short of the $678 million analysts were expecting.
Must Read: Warren Buffett's 25 Favorite Stocks
CHS data by YCharts
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts