NEW YORK (TheStreet) -- Shares of Chico's FAS (CHS) - Get Chico's FAS, Inc. Report are down by 3.53% to $11.75 in mid-morning trading on Tuesday, after the specialty retailer of women's apparel released its 2015 third quarter earnings results before the market open this morning, which fell short of analysts' expectations.
The company's adjusted earnings came in at 13 cents per diluted share on net sales of $641.2 million for the most recent quarter.
Analysts surveyed by Thomson Reuters had forecast for earnings of 20 cents per share on revenue of $667 million for the three month period ended on October 31, 2015.
Women's clothing has been one of the most troubled retail segments recently, MarketWatch reports. Over the last few years several women's clothing chains have been forced to either scale back or shut down.
Additionally, the company announced a new share buyback program of up to $300 million and a hiked up its quarterly dividend by 3.3% to 7.75 cents per share.
Earlier this year, Chico's announced a plan to reduce its capital spending, ramp up store closures and cut jobs, MarketWatch continued.
Separately, TheStreet Ratings team rates CHICOS FAS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
We rate CHICOS FAS INC (CHS) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.
You can view the full analysis from the report here: CHS
Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.