Piper Jaffray Maintains Neutral Rating On Chico's

According to Piper Jaffray, Chico's FAs CHS Estimates are raised. Piper Jaffray said that, in an 8-K filed this morning, management indicated that quarter-to-date comparable sales (which includes e-commerce) are tracking in the positive low-double-digits, with total sales tracking up in the mid-teens. “We are raising our FQ2 EPS estimate from $0.22 to $0.25 to reflect the better-than-expected sales trend and a higher gross margin estimate. We continue to be cautious on CHS shares in view of our belief that a deceleration in same-store sales in the back half of the year could pose a risk to valuation.” Chico's FAs closed yesterday at $14.60.