Chico's FAS ( CHS) will buy back up to $100 million of its outstanding shares over 12 months.

The company said it plans to use the cash flow from its operations to fund the buyback.

"By reducing shares outstanding, the common stock repurchase program is expected to enhance the book value per share and earnings per share of the Company's remaining shares," the company said.

The company's stock was trading at $38.99, up 49 cents.

This story was created through a joint venture between TheStreet.com and IRIS.

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