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Chico's shares pop after earnings beat

A Chico's store in New York.
Scott Mlyn | CNBC

Shares of apparel retailer Chico's FAS popped more than 12 percent in intraday trade Wednesday after better-than-expected earnings.

Second-quarter adjusted earnings came in at 25 cents a share, beating estimates of 22 cents, according to the firm's quarterly report released late Tuesday.

Revenue also beat at $636 million, versus $632 million expected. The company pointed to its cost-reduction initiatives, which began in May.