UPDATE: Chico's FAS FQ4 Net Profit Surges 21%, Issues Upbeat Sales Forecast

Chico's FAS Inc CHS posted a 21% rise in its fiscal fourth-quarter earnings. Chico's FAS expects fiscal 2012 sales of around $2.5 billion, versus analysts' estimates of $2.43 billion. Chico's FAS posted its quarterly profit at $25.1 million, or $0.15 per share, versus $20.7 million, or $0.12 per share, in the year-ago period. Its sales surged 20% to $569.2 million. However, analysts were expecting earnings of $0.11 per share on revenue of $547 million. Chico's FAS' gross margin declined to 52.3% from 53.2%. Chico's FAS shares closed at $12.81 yesterday.