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Chico's reports net sales for first quarter rose 52 percent

Chico's FAS Inc. yesterday reported that its net sales for the first quarter ended May 1 were $257 million, up 52 percent from the $169 million reported for the same quarter the previous year. Comparable store sales for company-owned stores rose 20.1 percent. "This increase was accomplished primarily

through improved gross margins in the Chico's brand due to higher initial merchandise margins and a lower markdown rate, and better than expected gross margins in the White House - Black Market brand," said Scott A. Edmonds, president and CEO, in a statement.

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