Acute rumors that Chico’s (CHS) may be bought has boosted its stock today — and if true would a boost for the US womenswear chain.

Several media outlets are reporting that Chico’s is reviewing a possible sale to private equity and is actively discussing the deal.

CHS stock is up 9% in morning trading.

Chico’s FAS jumped to $16.62 on above average volume.

That puts the stock at a one-month high.

Discussions are still in the early stages and with all possible sale rumors, there is no telling if the sale would move forward.

Chico’s has so far declined to comment, leading many to speculate whether management wants to sell or is just looking for a partner.

From CNBC (via Financial Times):

The final asking price could not be ascertained but one industry source said Chico’s would likely command a premium of about 30 per cent to its $2.36 billion market capitalization.

A sale of Chico’s would come against a backdrop of rising deal-making in the retail sector. US retail mergers and acquisitions totaled $21.8 billion in announced deals for the year to date, more than double for the equivalent period last year, and the strongest start for the sector since 2006, according to data from Thomson Reuters.

Not only did the long winter affect sales, but in recent months so has the slow-down in mid-market retail spending, as shares declined more than 20% since the beginning of the year.

CHS stock is down 10% year to date.