Our earnings per share of $0.21 is the best second-quarter performance we have posted since 2013.
Our robust second-quarter sales growth of 54% was across all three brands and was propelled by our meaningful enhancements in product and marketing, which continues to significantly drive full-price selling, reduced markdowns, and increased gross margin.
Not only did Soma post a 53% sales growth over last year's second quarter, comparable sales grew a remarkable 38% over the second quarter of 2019.
Soma remains on track to delivering an incremental 100 million in sales this year.
According to NPD research data, Soma's growth outpaced the market in non-sports bras, panties, and sleepwear for the past 12 months compared to the same period in 2019.
In addition, as customers' preferences have shifted to comfort, soma strategically increased its wireless bra assortment, taking more market share than any other brand for the last 12 months compared to the same period in 2019.
Exciting things are indeed happening at both Chico's and White House Black Market, as indicated by second-quarter sales growth of 59% and 48%, respectively.
As our store revenues continue to rebound, our second-quarter digital sales grew 23% over 2019 levels.
In fact, we posted our highest gross margin rate in 13 consecutive quarters.
Our on-hand inventories remain strategically lean, down 27% versus last year's second quarter and down 20% compared to the second quarter of 2019.
We have successfully opened 47 Soma shop-in-shops inside Chico's stores, which are exceeding expectations, driving new customers to both brands, and further expanding our digital business.
More of these shop-in-shops are scheduled going forward with a total of 70 expected by first quarter of next year.
We have lease flexibility with nearly 60% of our leases coming up for renewal or kick out available over the next two to three years.
We are still on track to close 13% to 16% of our remaining store fleet through the end of fiscal 2023, with 45 to 50 of those closures occurring this fiscal year.
During the quarter, we closed nine stores, bringing our year-to-date closings to 18, and we ended the quarter with 1,284 boutiques.
We are very pleased with our company's return to profitability, posting diluted earnings per share of $0.21 for the second quarter, compared to a $0.40 loss per share from last year's second quarter and a $0.02 loss per share for the second quarter of fiscal 2019.
Second-quarter net sales totaled $462 million compared to $306 million last year.
This 54% increase reflects meaningful improvement in product and marketing, which drove full-price selling as well as a recovery in-store sales as our stores were temporarily closed or operating at reduced hours last year, partially offset by 29 net store closures in the last 12 months.
Looking at the second quarter compared to 2019, our comparable sales were basically flat, declining just 1.6% with Soma improving 38% and Chico's and White House Black Market declining 14% and 5%, respectively.
Total company on-hand inventories compared to 2019 declined 20%, with Soma up 19%; and Chico's and White House Black Market down 32% and 49%, respectively, illustrating that the strategic investments in Soma's growth and our turnaround strategy in Chico's and White House Black Market are working.
Second-quarter gross margin was 38.4% compared to 14.6% last year, which included the impact of significant non-cash inventory write-offs.
This was our highest gross margin rate in 13 consecutive quarters.
SG&A expenses for the second quarter totaled $146 million or 30.9% of sales, an improvement of more than 400 basis points from last year's second quarter and nearly 300 basis points better than the second quarter of 2019.
We ended the quarter with over $137 million in cash and marketable securities, an increase of nearly $35 million over the first quarter.
Borrowings on our $300 million credit facility remained unchanged from fiscal year end at $149 million.
In addition, during the second quarter, we received a $16 million income tax refund related to the $55 million income tax receivable reported in the first quarter, and we expect to receive the balance of the $55 million in the third quarter.
In the second quarter, we continued our lease renegotiation initiatives with A&G Real Estate Partners, securing year-to-date commitments of approximately $15 million, and incremental savings from landlords, the majority of which will be realized this fiscal year.
This is in addition to the $65 million in abatements and reductions negotiated last year for a total savings to date of $80 million.
For the third quarter, we expect consolidated year-over-year sales improvement in the 18% to 22% range, gross margin rate improvement of 13 to 15 percentage points over third quarter last year, SG&A as a percentage of sales to improve 500 to 600 basis points year over year and an income tax rate of 34% to 35%.
For the full fiscal year, we expect consolidated year-over-year net sales improvement in the 32% to 35% range, gross margin rate improvement of 20 to 22 percentage points over fiscal 2020, SG&A as a percent of sales to improve 500 to 600 basis points year over year and an income tax rate of 34% to 35%.

Summary:
Our earnings per share of $0.21 is the best second-quarter performance we have posted since 2013.
We are very pleased with our company's return to profitability, posting diluted earnings per share of $0.21 for the second quarter, compared to a $0.40 loss per share from last year's second quarter and a $0.02 loss per share for the second quarter of fiscal 2019.
For the third quarter, we expect consolidated year-over-year sales improvement in the 18% to 22% range, gross margin rate improvement of 13 to 15 percentage points over third quarter last year, SG&A as a percentage of sales to improve 500 to 600 basis points year over year and an income tax rate of 34% to 35%.
For the full fiscal year, we expect consolidated year-over-year net sales improvement in the 32% to 35% range, gross margin rate improvement of 20 to 22 percentage points over fiscal 2020, SG&A as a percent of sales to improve 500 to 600 basis points year over year and an income tax rate of 34% to 35%.