Why Chico's FAS (CHS) Stock Is Down Today

NEW YORK (TheStreet) -- Chico's FAS (CHS) stock is lower Wednesday after the women's apparel retailer reported first-quarter profits 22% lower than a year earlier. By early afternoon, shares had slipped 2% to $15.30.

Over the three months to April, the company earned 26 cents a share, 2 cents lower than analysts surveyed by Thomson Reuters expected. Revenue of $681.6 million nudged 1.6% higher, while same-store sales fell 2.6%. 

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TheStreet Ratings team rates CHICOS FAS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate CHICOS FAS INC (CHS) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

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