Wedbush Reiterates Outperform on Chico's FAS

Wedbush is out with its report today on Chico's FAS CHS, reiterating Outperform. In its report, Wedbush writes, "We continue to believe CHS offers one of the most compelling investment ideas in the softlines universe given its combination of sales momentum, AUR opportunities, square footage growth, and the looming profitability of Soma. Furthermore, with the complementary acquisition of Boston Proper, we believe CHS has added another potential growth driver from a margin perspective before considering future brick-and-mortar additions." Wedbush maintains an $18 PT on CHS. Shares of CHS closed Tuesday at $13.87.