Chico's FAS' ( CHS) seemingly limitless ability to impress a skeptical Wall Street continued Thursday as the women's clothes and accessories retailer reported another double-digit rise in same-store sales. The Fort Myers, Fla., company said sales rose 10.9% in stores open more than a year in June, while overall sales shot up 42% to $93.6 million in the month. Analysts surveyed by Thomson First Call had been looking for an 8.9% rise in Chico's comps. The stock, which is up 19% in 2003 and 77% over the last 12 months, was recently rising 35 cents, or 0.8%, to $45.25 on the Instinet premarket session. Chico's reported same-store sales increases of 17.9% in May, 16.9% in April and 18.9% in March. The breakneck growth continues to support a rich valuation for the shares, roughly 22% of which are sold short. At its current level, the stock fetches 29 times this year's Thomson First Call earnings estimate of $1.53 a share and 24 times the 2005 estimate of $1.88 a share. For the 22 months to July 3, 2004, Chico's total sales increased 49.5% to $440 million, while same-store sales jumped 17.6%, the company said.