Chico's FAS Continues To Post Steep Loss In Afternoon Trading

(RTTNews) - Shares of Chico's FAS, Inc. (CHS) continue to see substantial weakness in afternoon trading on Wednesday after moving sharply lower early in the session. After hitting its lowest intraday level in over nine years, Chico's FAS is currently down by 37.9 percent.

The early sell-off by Chico's FAS came after the women's apparel retailer reported fiscal third quarter results that missed expectations and forecast a drop in fourth quarter sales.

Chico's FAS reported third quarter earnings of $0.05 per share on net sales of $499.9 million, while analysts had expected the company to earn $0.08 per share on sales of $515.6 million.