• Q3 net income of US$22.7m
  • Sales increased from $394.2m to $446.9m
  • Same-store sales increased 12.8%

Chico's has reported a leap in third quarter net income as same store sales for the period experience double digit growth.

The company said that it achieved net income of US$22.7m or $0.13 per diluted share, compared to net income of $2m, or $0.01 per diluted share for the third quarter of 2008.

For the nine months, net income reached $52.1mup from $21.4m, in the same period last year. 

Net sales for the thirteen-week period ended 31 October 2009 increased from $394.2m to $446.9m. Consolidated comparable store sales increased 12.8% for the thirteen-week period compared to a 13.4% decrease for the like period last year.

The Chico's/Soma Intimates brands' comparable store sales increased 12.2% compared to a 16.2% decrease last year and the White House/Black Market (WH/BM) brand's comparable store sales increased 14.4% compared to a 4.8% decrease in the third quarter 2008.

Direct-to-consumer sales, not included in comparable store sales, increased approximately 33% over third quarter 2008.

Click here to view the retailer's full Q3 earnings release.