About Chico's Fas, Inc.

Once a Mexican folk art shop , Chico's FAS clothes chicas with upscale clothing across three brands. Chico's owns and operates more than 1,500 specialty stores nationwide, and in Canada and Mexico (in the latter through a franchise agreement). Its stores are mostly located in enclosed malls and shopping centers under the banners Chico's, White House Black Market (WHBM), and Soma. The boutiques target middle-to-high-income women ages 35 and up with clothes made primarily from natural fabrics (cotton, linen, silk). Its casual wear includes tops, pants, shorts, skirts, and dresses, as well as jewelry and accessories.

Operations

Chico FAS' three brands -- Chico's, White House Black Market (WHBM), and Soma -- sell private branded clothing to moderate-to-high income women.

Chico's, the largest of the three at over 50% of sales, sells sophisticated, casual-to-dressy clothing, intimates, and accessories. It runs some 700 locations (600 boutiques and 100 outlets)

WHBM sells lower-priced women's clothing through some 500 locations (434 boutique and 72 outlets), and brings in 35% of company revenue.

Soma sells lingerie, sleepwear, loungewear, activewear, and beauty products. It accounts for 15% of revenue and has nearly 300 retail units.

Geographic Reach

While Chico's rings up almost all of its sales in the US, the fast-growing chain operates four Chico's stores and six White House Black Market stores in Canada (a new market for Chico's). The chain's largest US markets are California, Florida, and Texas, which combined are home to over a quarter of its stores.

Chico's operates 1,501 stores across 48 states, Puerto Rico, the US Virgin Islands and Canada, as well as 91 franchise locations in Mexico.

Sales and Marketing

To drive traffic to its stores and websites Chico's relies on loyalty and reward programs, digital marketing (mobile paid marketing, banner advertising, affiliate programs), direct marketing (catalogs, email, and calling campaigns), social marketing, charitable giving, and more.

Financial Performance

Chico's FAS has recorded uneven revenue in recent years, and in fiscal 2017 (ended January) fell for a second consecutive year.

Sales fell 7% to $2.5 billion due to the completion of the Boston Proper sale in fiscal 2016 and the resultant loss of revenue. Excluding the absent Boston Proper revenue, sales fell 4% due to lower comparable store sales. Transaction count and transaction value both fell. The Soma business was the only one of the three to record higher sales figures, up 3% to $344 million.

Net income rose jumped from $1.9 million in fiscal 2016 to $91.2 million in fiscal 2017. The large increase was due to hefty restructuring and other charges incurred in fiscal 2016 relating to the Boston Proper sale, as well as lower selling, general, and administrative expenses incurred in fiscal 2017.

Chico FAS' cash position strengthened as cash provided by operating activities rose 17% to $230.7 million due to higher net income and a decrease in income tax receivable.

Strategy

Chico's growth strategy is by enhancing customer experience, which has entailed heavy investment in omnichannel capabilities. The company has enhanced its online presence and improved the branding experience, and aims to convey the impression that its three brands' websites are the largest store of each. It is working to remove conceptual barriers between the various sales channels by allowing customers to order online and collect in store. A surge in mobile traffic triggered the optimization of its sites across mobile platforms for Chico's and White House Black Market (WHBM); it will complete the same process for Soma in 2017.

To improve profitability, the company is undertaking a store closure program. In fiscal 2017 it expects to close 14-18 net Chico's and WHBM stores and 6-10 net Soma stores. It expects to open 10 stores in the same period.

The company sold off its direct-to-consumer Boston Proper business in 2015 in order to focus more on its core operations.

Company Background

Chico's was founded in 1983 by ex-chairman Marvin Gralnick and wife Helene.

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Chico's Fas, Inc.

11215 Metro Pkwy
Fort Myers, FL 33966-1206
Phone: 1 (239) 277-6200
Fax: 1 (239) 277-5237

Stats

  • Employer Type: Public
  • Stock Symbol: CHS
  • Stock Exchange: NYSE
  • President, CEO, and Director: Shelley G. Broader
  • EVP and CFO: Todd E. Vogensen
  • Chairman: David F. Walker
  • 2017 Employees: 21,000

Major Office Locations

  • Fort Myers, FL

Other Locations

  • Birmingham, AL
  • Foley, AL
  • Hoover, AL
  • Huntsville, AL
  • Leeds, AL
  • Montgomery, AL
  • Spanish Fort, AL
  • Tuscaloosa, AL
  • Vestavia, AL
  • Fayetteville, AR
  • Jonesboro, AR
  • Little Rock, AR
  • Rogers, AR
  • Chandler, AZ
  • Gilbert, AZ
  • Glendale, AZ
  • Mesa, AZ
  • Paradise Valley, AZ
  • Peoria, AZ
  • Phoenix, AZ
  • Prescott, AZ
  • Scottsdale, AZ
  • Sedona, AZ
  • Tempe, AZ
  • Tucson, AZ
  • Alpine, CA
  • Arcadia, CA
  • Bakersfield, CA
  • Brea, CA
  • Brentwood, CA
  • Calabasas, CA
  • Camarillo, CA
  • Carlsbad, CA
  • Cerritos, CA
  • Chico, CA
  • Chino Hills, CA
  • Chula Vista, CA
  • Claremont, CA
  • Danville, CA
  • Emeryville, CA
  • Folsom, CA
  • Fresno, CA
  • Gilroy, CA
  • Glendale, CA
  • Huntington Beach, CA
  • Irvine, CA
  • La Canada, CA
  • La Jolla, CA
  • Lafayette, CA
  • Laguna Beach, CA
  • Livermore, CA
  • Long Beach, CA
  • Los Angeles, CA
  • Los Gatos, CA
  • Manhattan Beach, CA
  • Marina Del Rey, CA
  • Mission Viejo, CA
  • Modesto, CA
  • Monterey, CA
  • Newport Beach, CA
  • Palm Desert, CA
  • Palm Springs, CA
  • Palo Alto, CA
  • Pleasanton, CA
  • Rancho Cucamonga, CA
  • Riverside, CA
  • Rllng Hls Est, CA
  • Roseville, CA
  • Sacramento, CA
  • San Diego, CA
  • San Francisco, CA
  • San Jose, CA
  • San Juan Capistrano, CA
  • San Luis Obispo, CA
  • San Mateo, CA
  • Santa Ana, CA
  • Santa Barbara, CA
  • Santa Clara, CA
  • Santa Monica, CA
  • Santa Rosa, CA
  • Seal Beach, CA
  • Sherman Oaks, CA
  • Sonoma, CA
  • Stockton, CA
  • Studio City, CA
  • Temecula, CA
  • Thousand Oaks, CA
  • Tustin, CA
  • Vacaville, CA
  • Valencia, CA
  • Walnut Creek, CA
  • Westlake Village, CA
  • Aurora, CO
  • Boulder, CO
  • Broomfield, CO
  • Castle Rock, CO
  • Colorado Springs, CO
  • Denver, CO
  • Fort Collins, CO
  • Lakewood, CO
  • Littleton, CO
  • Lone Tree, CO
  • Loveland, CO
  • Westminster, CO
  • Avon, CT
  • Canton, CT
  • Danbury, CT
  • Fairfield, CT
  • Farmington, CT
  • Glastonbury, CT
  • Milford, CT
  • South Windsor, CT
  • Southbury, CT
  • Stamford, CT
  • Uncasville, CT
  • Waterford, CT
  • West Hartford, CT
  • Washington, DC
  • Newark, DE
  • Rehoboth Beach, DE
  • Wilmington, DE
  • Altamonte Springs, FL
  • Boca Raton, FL
  • Clearwater, FL
  • Coconut Creek, FL
  • Coral Gables, FL
  • Delray Beach, FL
  • Destin, FL
  • Ellenton, FL
  • Estero, FL
  • Fernandina Beach, FL
  • Fort Lauderdale, FL
  • Gainesville, FL
  • Jacksonville, FL
  • Lady Lake, FL
  • Lakeland, FL
  • Lakewood Ranch, FL
  • Lantana, FL
  • Marco Island, FL
  • Melbourne, FL
  • Miami, FL
  • Naples, FL
  • Orlando, FL
  • Ormond Beach, FL
  • Palm Beach Gardens, FL
  • Panama City Beach, FL
  • Pembroke Pines, FL
  • Pensacola, FL
  • Ponte Vedra Beach, FL
  • Saint Augustine, FL
  • Saint Petersburg, FL
  • Sanibel, FL
  • Sarasota, FL
  • Stuart, FL
  • Sunrise, FL
  • Tallahassee, FL
  • Tampa, FL
  • Vero Beach, FL
  • Wesley Chapel, FL
  • West Palm Beach, FL
  • Winter Garden, FL
  • Winter Park, FL
  • Alpharetta, GA
  • Athens, GA
  • Atlanta, GA
  • Augusta, GA
  • Buford, GA
  • Columbus, GA
  • Commerce, GA
  • Cumming, GA
  • Dawsonville, GA
  • Macon, GA
  • Marietta, GA
  • Norcross, GA
  • Peachtree City, GA
  • Saint Simons Island, GA
  • Savannah, GA
  • Snellville, GA
  • Winder, GA
  • Woodstock, GA
  • Honolulu, HI
  • Coralville, IA
  • Davenport, IA
  • Sioux City, IA
  • West Des Moines, IA
  • Williamsburg, IA
  • Boise, ID
  • Meridian, ID
  • Algonquin, IL
  • Burr Ridge, IL
  • Champaign, IL
  • Chicago, IL
  • Deer Park, IL
  • Deerfield, IL
  • Fairview Heights, IL
  • Geneva, IL
  • Lincolnshire, IL
  • Naperville, IL
  • Northbrook, IL
  • Oak Brook, IL
  • Orland Park, IL
  • Park Ridge, IL
  • Peoria, IL
  • River Forest, IL
  • Rockford, IL
  • Schaumburg, IL
  • Skokie, IL
  • South Barrington, IL
  • Springfield, IL
  • Wheaton, IL
  • Bloomington, IN
  • Carmel, IN
  • Edinburgh, IN
  • Evansville, IN
  • Fort Wayne, IN
  • Granger, IN
  • Greenwood, IN
  • Indianapolis, IN
  • Michigan City, IN
  • Noblesville, IN
  • West Lafayette, IN
  • Lawrence, KS
  • Overland Park, KS
  • Shawnee Mission, KS
  • Wichita, KS
  • Bowling Green, KY
  • Crestview Hills, KY
  • Lexington, KY
  • Louisville, KY
  • Paducah, KY
  • Simpsonville, KY
  • Baton Rouge, LA
  • Gonzales, LA
  • Lafayette, LA
  • Mandeville, LA
  • Metairie, LA
  • Monroe, LA
  • New Orleans, LA
  • Shreveport, LA
  • Acton, MA
  • Boston, MA
  • Braintree, MA
  • Burlington, MA
  • Cambridge, MA
  • Canton, MA
  • Chestnut Hill, MA
  • Dedham, MA
  • Hingham, MA
  • Longmeadow, MA
  • Lynnfield, MA
  • Mansfield, MA
  • Marlborough, MA
  • Mashpee, MA
  • Natick, MA
  • North Andover, MA
  • Peabody, MA
  • Plymouth, MA
  • Somerville, MA
  • Wrentham, MA
  • Annapolis, MD
  • Baltimore, MD
  • Bethesda, MD
  • Chevy Chase, MD
  • Cockeysville, MD
  • Columbia, MD
  • Easton, MD
  • Frederick, MD
  • Gaithersburg, MD
  • Gambrills, MD
  • Hagerstown, MD
  • Hunt Valley, MD
  • Pikesville, MD
  • Potomac, MD
  • Queenstown, MD
  • Rockville, MD
  • Salisbury, MD
  • Towson, MD
  • Waldorf, MD
  • South Portland, ME
  • Ann Arbor, MI
  • Birch Run, MI
  • Brighton, MI
  • Clinton Township, MI
  • Grand Rapids, MI
  • Grandville, MI
  • Grosse Pointe Park, MI
  • Holland, MI
  • Lansing, MI
  • Livonia, MI
  • Novi, MI
  • Okemos, MI
  • Petoskey, MI
  • Portage, MI
  • Rochester Hills, MI
  • Troy, MI
  • West Bloomfield, MI
  • Albertville, MN
  • Bloomington, MN
  • Duluth, MN
  • Eagan, MN
  • Eden Prairie, MN
  • Hopkins, MN
  • Maple Grove, MN
  • Minneapolis, MN
  • Rochester, MN
  • Saint Cloud, MN
  • Saint Paul, MN
  • Wayzata, MN
  • Woodbury, MN
  • Branson, MO
  • Chesterfield, MO
  • Columbia, MO
  • Joplin, MO
  • Kansas City, MO
  • Lake Saint Louis, MO
  • Lees Summit, MO
  • Saint Louis, MO
  • Springfield, MO
  • Gulfport, MS
  • Jackson, MS
  • Ridgeland, MS
  • Billings, MT
  • Missoula, MT
  • Asheville, NC
  • Blowing Rock, NC
  • Cary, NC
  • Chapel Hill, NC
  • Charlotte, NC
  • Durham, NC
  • Fayetteville, NC
  • Gastonia, NC
  • Greensboro, NC
  • Greenville, NC
  • Hickory, NC
  • High Point, NC
  • Huntersville, NC
  • Mebane, NC
  • Morrisville, NC
  • Raleigh, NC
  • Southern Pines, NC
  • Wilmington, NC
  • Winston Salem, NC
  • Fargo, ND
  • Minot, ND
  • Lincoln, NE
  • Omaha, NE
  • Concord, NH
  • Atlantic City, NJ
  • Bridgewater, NJ
  • Cherry Hill, NJ
  • Chester, NJ
  • Clifton, NJ
  • Denville, NJ
  • Edgewater, NJ
  • Edison, NJ
  • Freehold, NJ
  • Jackson, NJ
  • Marlton, NJ
  • Maywood, NJ
  • Mount Laurel, NJ
  • North Brunswick, NJ
  • Old Bridge, NJ
  • Paramus, NJ
  • Princeton, NJ
  • Ridgewood, NJ
  • Short Hills, NJ
  • Shrewsbury, NJ
  • Sicklerville, NJ
  • Tinton Falls, NJ
  • Trenton, NJ
  • Wayne, NJ
  • Westwood, NJ
  • Woodcliff Lake, NJ
  • Albuquerque, NM
  • Las Cruces, NM
  • Santa Fe, NM
  • Henderson, NV
  • Las Vegas, NV
  • Reno, NV
  • Albany, NY
  • Bayside, NY
  • Deer Park, NY
  • Fayetteville, NY
  • Fishkill, NY
  • Garden City, NY
  • Glendale, NY
  • Great Neck, NY
  • Huntington Station, NY
  • Lake George, NY
  • Lake Grove, NY
  • Manhasset, NY
  • Merrick, NY
  • New Hartford, NY
  • New York, NY
  • Niagara Falls, NY
  • Orchard Park, NY
  • Riverhead, NY
  • Rochester, NY
  • Saratoga Springs, NY
  • Scarsdale, NY
  • Southampton, NY
  • Staten Island, NY
  • Syracuse, NY
  • Vestal, NY
  • Victor, NY
  • White Plains, NY
  • Williamsville, NY
  • Woodbury, NY
  • Yonkers, NY
  • Aurora, OH
  • Beavercreek, OH
  • Canton, OH
  • Chagrin Falls, OH
  • Cincinnati, OH
  • Cleveland, OH
  • Columbus, OH
  • Hudson, OH
  • Jeffersonville, OH
  • Liberty Township, OH
  • Maumee, OH
  • Oakwood, OH
  • Perrysburg, OH
  • Strongsville, OH
  • Toledo, OH
  • Upper Arlington, OH
  • Westlake, OH
  • Youngstown, OH
  • Edmond, OK
  • Norman, OK
  • Oklahoma City, OK
  • Tulsa, OK
  • Bend, OR
  • Eugene, OR
  • Gresham, OR
  • Happy Valley, OR
  • Lake Oswego, OR
  • Medford, OR
  • Portland, OR
  • Tigard, OR
  • Woodburn, OR
  • Ardmore, PA
  • Center Valley, PA
  • Collegeville, PA
  • Cranberry Township, PA
  • Erie, PA
  • Exton, PA
  • Glen Mills, PA
  • Grove City, PA
  • Harrisburg, PA
  • Hershey, PA
  • Jenkintown, PA
  • King Of Prussia, PA
  • Langhorne, PA
  • Monroeville, PA
  • Moosic, PA
  • North Wales, PA
  • Paoli, PA
  • Pittsburgh, PA
  • Pottstown, PA
  • Reading, PA
  • State College, PA
  • Warrington, PA
  • Washington, PA
  • Wexford, PA
  • Whitehall, PA
  • Willow Grove, PA
  • York, PA
  • Cranston, RI
  • Newport, RI
  • Smithfield, RI
  • Bluffton, SC
  • Charleston, SC
  • Columbia, SC
  • Florence, SC
  • Gaffney, SC
  • Greenville, SC
  • Hilton Head Island, SC
  • Mount Pleasant, SC
  • North Charleston, SC
  • North Myrtle Beach, SC
  • Rock Hill, SC
  • Sioux Falls, SD
  • Chattanooga, TN
  • Collierville, TN
  • Concord, TN
  • Franklin, TN
  • Hendersonville, TN
  • Johnson City, TN
  • Knoxville, TN
  • Memphis, TN
  • Mount Juliet, TN
  • Murfreesboro, TN
  • Nashville, TN
  • Sevierville, TN
  • Allen, TX
  • Amarillo, TX
  • Austin, TX
  • Beaumont, TX
  • Cedar Hill, TX
  • College Station, TX
  • Corpus Christi, TX
  • Cypress, TX
  • Dallas, TX
  • El Paso, TX
  • Fort Worth, TX
  • Friendswood, TX
  • Frisco, TX
  • Garland, TX
  • Grapevine, TX
  • Houston, TX
  • Hurst, TX
  • Katy, TX
  • Kingwood, TX
  • Lewisville, TX
  • Lubbock, TX
  • Mcallen, TX
  • Mckinney, TX
  • Midland, TX
  • Pearland, TX
  • Plano, TX
  • Round Rock, TX
  • San Antonio, TX
  • San Marcos, TX
  • Southlake, TX
  • Sugar Land, TX
  • Texarkana, TX
  • Texas City, TX
  • The Woodlands, TX
  • Tyler, TX
  • Waco, TX
  • Salt Lake City, UT
  • St George, UT
  • Alexandria, VA
  • Arlington, VA
  • Charlottesville, VA
  • Chesapeake, VA
  • Fairfax, VA
  • Fredericksburg, VA
  • Gainesville, VA
  • Hampton, VA
  • Leesburg, VA
  • Lynchburg, VA
  • Mc Lean, VA
  • Newport News, VA
  • Reston, VA
  • Richmond, VA
  • Roanoke, VA
  • Virginia Beach, VA
  • Williamsburg, VA
  • Winchester, VA
  • Bellevue, WA
  • Bellingham, WA
  • Gig Harbor, WA
  • Issaquah, WA
  • Kennewick, WA
  • Kent, WA
  • Lynnwood, WA
  • Quil Ceda Village, WA
  • Redmond, WA
  • Seattle, WA
  • Spokane, WA
  • Tacoma, WA
  • Appleton, WI
  • Baraboo, WI
  • Brookfield, WI
  • Green Bay, WI
  • Middleton, WI
  • Milwaukee, WI
  • Pleasant Prairie, WI
  • Charleston, WV
  • Huntington, WV
  • Burlington, Canada
  • Ottawa, Canada
  • Toronto, Canada
  • Jinzhong, China
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