NEW YORK (TheStreet) --Shares of Chico's FAS Inc. (CHS - Get Report) 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.
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