Exhibit 99.1

Chico’s FAS, Inc. • 11215 Metro Parkway • Fort Myers, Florida 33966 • (239) 277-6200

For Immediate Release

Executive Contact:
Robert C. Atkinson
Vice President-Investor Relations
Chico’s FAS, Inc.
(239) 274-4199

Chico’s FAS, Inc. Reports a 47% Increase in Second Quarter
Earnings Per Share of $0.25 vs. $0.17

•

Net sales increased 18.5% to $551.4 million with comparable sales increasing 12.8%

     Fort Myers, FL - August 17, 2011 - Chico’s FAS, Inc. (NYSE: CHS) today announced its financial results for the fiscal 2011 second quarter and six months ended July 30, 2011.

Net Income and Earnings per Share

     The Company reported an increase of 47% in earnings per share with net income totaling $43.4 million, or $0.25 per diluted share for the second quarter compared to net income of $30.5 million, or $0.17 per diluted share for the same period last year.

     For the six months ended July 30, 2011, the Company reported an increase of 38% in earnings per share with net income totaling $89.3 million or $0.51 per diluted share, compared to net income of $65.9 million, or $0.37 per diluted share reported for the same period last year.

Net Sales

     Net sales for the quarter increased 18.5% to $551.4 million from $465.4 million in last year’s second quarter. Consolidated comparable sales increased 12.8% for the quarter following a 7.6% increase for the same period last year reflecting our compelling fashion offering and effective merchandising and marketing. The Chico’s/Soma Intimates brands’ comparable sales increased 11.9% following a 5.5% increase for the same period last year, and the White House | Black Market (“WH|BM”) brand’s comparable sales increased 14.9% following a 12.5% increase for the same period last year.

Gross Margin

     Gross margin for the second quarter of $309.3 million, or 56.1% of net sales, represents a 40 basis point improvement over last year’s second quarter driven by increased full-price selling partially offset by successful planned promotional activity.

Selling, General and Administrative Expenses

     Selling, general and administrative expenses for the second quarter of $240.4 million, or 43.6% of net sales, represents an improvement of 190 basis point over last year’s second quarter due to the sales leverage impact on store personnel and occupancy costs, slightly offset by higher performance based compensation.

Inventories

     For the total company, weeks of inventory supply on hand decreased approximately 4% compared to the prior year, reflecting initiatives to drive inventory productivity. While in-store inventories increased approximately $16.5 million over last year, or 8% per square foot, this increase is consistent with our mix of new store growth and sales trends. The balance of our inventories increased primarily due to timing of deliveries, planned net new third quarter store openings and our expanding DTC channel.

Share Repurchase Program

     During the second quarter of 2011, the Company repurchased 4.3 million shares for $61.2 million and has $84.2 million remaining under the original $200 million authorization approved by the Board of Directors in August 2010.

ABOUT CHICO’S FAS, INC.
The Company is a women’s specialty retailer of private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items. The Company operates 1,221 specialty stores, including stores in 48 states, the District of Columbia, the U.S. Virgin Islands and Puerto Rico.

The Chico’s brand currently operates 598 boutiques and 78 outlet stores, publishes a catalog during key shopping periods throughout the year, and conducts e-commerce at www.chicos.com.

White House | Black Market currently operates 354 boutiques and 25 outlet stores, publishes a catalog highlighting its latest fashions and conducts e-commerce at www.whbm.com.

Soma Intimates is the Company’s developing concept with 150 boutiques and 16 outlet stores today. Soma Intimates also publishes a catalog for its customers and conducts e-commerce at www.soma.com.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 Certain statements contained herein, including without limitation, statements addressing the beliefs, plans, objectives, estimates or expectations of the Company or future results or events constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements involve known or unknown risks, including, but not limited to, general economic and business conditions, and conditions in the specialty retail industry. There can be no assurance that the actual future results, performance, or achievements expressed or implied by such forward-looking statements will occur. Users of forward-looking statements are encouraged to review the Company’s latest annual report on Form 10-K, its filings on Form 10-Q, management’s discussion and analysis in the Company’s latest annual report to stockholders, the Company’s filings on Form 8-K, and other federal securities law filings for a description of other important factors that may affect the Company’s business, results of operations and financial condition. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that projected results expressed or implied in such statements will not be realized.

For more detailed information on Chico’s FAS, Inc., please go to our corporate website, www.chicosfas.com.

(Financial Tables Follow)

Chico’s FAS, Inc.
Consolidated Statements of Income
(Unaudited)
(in thousands, except per share amounts)

		Twenty-Six Weeks Ended																Thirteen Weeks Ended
		July 30, 2011								July 31, 2010								July 30, 2011								July 31, 2010
						% of								% of								% of								% of
		Amount				Sales				Amount				Sales				Amount				Sales				Amount				Sales
Net Sales:
Chico’s/Soma Intimates		$	749,258				68.8			$	656,360				69.3			$	374,324				67.9			$	319,660				68.7
White House | Black Market			339,349				31.2				290,599				30.7				177,125				32.1				145,711				31.3
Total net sales			1,088,607				100.0				946,959				100.0				551,449				100.0				465,371				100.0
Cost of goods sold			461,617				42.4				406,173				42.9				242,122				43.9				206,164				44.3
Gross margin			626,990				57.6				540,786				57.1				309,327				56.1				259,207				55.7
Selling, general and administrative expenses:
Store and direct operating expenses			364,977				33.5				333,501				35.2				183,461				33.3				164,853				35.4
Marketing			51,971				4.8				47,091				5.0				21,073				3.8				18,011				3.9
National Store Support Center			68,253				6.3				57,782				6.1				35,822				6.5				28,982				6.2
Total selling, general and administrative expenses			485,201				44.6				438,374				46.3				240,356				43.6				211,846				45.5
Income from operations			141,789				13.0				102,412				10.8				68,971				12.5				47,361				10.2
Interest income, net			820				0.1				844				0.1				420				0.1				394				0.0
Income before income taxes			142,609				13.1				103,256				10.9				69,391				12.6				47,755				10.2
Income tax provision			53,300				4.9				37,400				3.9				26,000				4.7				17,300				3.7
Net income		$	89,309				8.2			$	65,856				7.0			$	43,391				7.9			$	30,455				6.5
Per share data:
Net income per common share-basic		$	0.51							$	0.37							$	0.25							$	0.17
Net income per common & common equivalent share–diluted		$	0.51							$	0.37							$	0.25							$	0.17
Weighted average common shares outstanding–basic			173,082								177,417								171,282								177,499
Weighted average common & common equivalent shares outstanding–diluted			174,298								178,807								172,495								178,774
Dividends declared per share		$	0.15							$	0.12							$	0.05							$	0.04

Chico’s FAS, Inc.
Consolidated Balance Sheets
(in thousands)

		July 30,				January 29,				July 31,
		2011				2011				2010
		(Unaudited)								(Unaudited)
ASSETS
Current Assets:
Cash and cash equivalents		$	56,109			$	14,695			$	17,559
Marketable securities, at fair value			448,211				534,019				469,829
Receivables			5,619				3,845				7,483
Income tax receivable			11,303				6,565				657
Inventories			190,745				159,814				146,899
Prepaid expenses			31,184				26,851				27,018
Deferred taxes			9,084				10,976				9,823
Total Current Assets			752,255				756,765				679,268
Property and Equipment:
Land and land improvements			43,314				42,468				42,080
Building and building improvements			92,864				89,328				85,628
Equipment, furniture and fixtures			463,130				428,217				406,682
Leasehold improvements			436,432				426,141				418,585
Total Property and Equipment			1,035,740				986,154				952,975
Less accumulated depreciation and amortization			(510,958	)			(468,777	)			(425,498	)
Property and Equipment, Net			524,782				517,377				527,477
Other Assets:
Goodwill			96,774				96,774				96,774
Other intangible assets			38,930				38,930				38,930
Deferred taxes			—				964				39,597
Other assets, net			5,532				5,211				4,940
Total Other Assets			141,236				141,879				180,241
		$	1,418,273			$	1,416,021			$	1,386,986
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable		$	132,703			$	106,680			$	101,595
Accrued liabilities			91,885				94,837				93,592
Current portion of deferred liabilities			21,150				19,760				19,681
Total Current Liabilities			245,738				221,277				214,868
Noncurrent Liabilities:
Deferred liabilities			130,196				129,837				137,437
Stockholders’ Equity:
Preferred stock			—				—				—
Common stock			1,722				1,779				1,789
Additional paid-in capital			293,881				282,528				276,000
Retained earnings			746,006				780,212				756,043
Accumulated other comprehensive income			730				388				849
Total Stockholders’ Equity			1,042,339				1,064,907				1,034,681
		$	1,418,273			$	1,416,021			$	1,386,986

Chico’s FAS, Inc.
Consolidated Cash Flow Statements
(Unaudited)
(in thousands)

		Twenty-Six Weeks Ended
		July 30,				July 31,
		2011				2010
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		$	89,309			$	65,856
Adjustments to reconcile net income to net cash provided by operating activities —
Depreciation and amortization			48,353				46,636
Deferred tax expense (benefit)			4,845				(3,628	)
Stock-based compensation expense			8,365				5,950
Excess tax benefit from stock-based compensation			(1,642	)			(1,011	)
Deferred rent and lease credits			(9,167	)			(8,037	)
Loss on disposal of property and equipment			1,756				1,813
Decrease (increase) in assets —
Receivables, net			(1,774	)			(3,578	)
Income tax receivable			(4,738	)			(346	)
Inventories			(30,931	)			(8,382	)
Prepaid expenses and other			(5,904	)			(2,666	)
Increase in liabilities —
Accounts payable			17,417				15,203
Accrued and other deferred liabilities			6,637				2,110
Total adjustments			33,217				44,064
Net cash provided by operating activities			122,526				109,920
CASH FLOWS FROM INVESTING ACTIVITIES:
Decrease (increase) in marketable securities			86,150				(82,884	)
Purchases of property and equipment, net			(56,265	)			(34,380	)
Net cash provided by (used in) investing activities			29,885				(117,264	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock			2,762				1,378
Excess tax benefit from stock-based compensation			1,642				1,011
Dividends paid			(17,521	)			(14,282	)
Repurchase of common stock			(97,880	)			(247	)
Net cash used in financing activities			(110,997	)			(12,140	)
Net increase (decrease) in cash and cash equivalents			41,414				(19,484	)
CASH AND CASH EQUIVALENTS, Beginning of period			14,695				37,043
CASH AND CASH EQUIVALENTS, End of period		$	56,109			$	17,559

Chico’s FAS, Inc.
Boutique Count and Square Footage
As of July 30, 2011

		As of				New								As of
		4/30/2011				Stores				Closures				7/30/2011
Store count:
Chico’s frontline boutiques			595				4				(1	)			598
Chico’s outlets			71				6				—				77
WH|BM frontline boutiques			350				8				(2	)			356
WH|BM outlets			24				1				—				25
Soma frontline boutiques			134				16				(2	)			148
Soma outlets			10				5				(1	)			14
Total Chico’s FAS, Inc.			1,184				40				(6	)			1,218

														Remodels/
														Relos and
		As of				New								change in				As of
		4/30/2011				Stores				Closures				SSF				7/30/2011
Net selling square footage (SSF):
Chico’s frontline boutiques			1,605,751				11,464				(1,120	)			3,777				1,619,872
Chico’s outlets			185,056				13,450				—				—				198,506
WH|BM frontline boutiques			730,625				16,596				(4,561	)			3,114				745,774
WH|BM outlets			46,346				1,892				—				—				48,238
Soma frontline boutiques			273,348				34,112				(4,051	)			(677	)			302,732
Soma outlets			18,154				9,552				(1,971	)			—				25,735
Total Chico’s FAS, Inc.			2,859,280				87,066				(11,703	)			6,214				2,940,857