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About Chico's Fas, Inc.

Once a Mexican folk art shop , Chico's FAS clothes chicas with upscale clothing across several brands. Chico's owns and operates more than 1,385 specialty stores nationwide and in Canada and more than 80 franchised locations in Mexico. Its stores are mostly located in enclosed malls and shopping centers under the banners Chico's, White House Black Market (WHBM), and Soma. The company has launched a digital-only intimate apparel store called TellTale. The company's 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' brands -- Chico's, White House Black Market (WHBM), and Soma -- sell private branded clothing to moderate-to-high income women. 

Chico's, the largest with more than 50% of sales, sells sophisticated, casual-to-dressy clothing, intimates, and accessories. It operates some 680 locations. 

WHBM sells upscale women's clothing through some 460 locations and brings in about a third of company revenue. 

Soma sells lingerie, sleepwear, loungewear, activewear, and beauty products. It accounts for 15% of revenue and has about 280 stores. The company's new digital-only brand TellTale also sells intimate apparel.

Chico's FAS product sourcing activities are performed by a centralized shared service team. Sources in China account for nearly half of its merchandise cost. The majority of the company's merchandise is purchased through key suppliers; key suppliers represent nearly two-thirds of its purchases, with its largest supplier accounting for nearly a quarter of the total. 

Geographic Reach

Chico's rings up almost all of its sales in the US. The company also operates four Chico's stores and six White House Black Market stores in Canada, which is a new market for Chico's. The chain's largest US markets are California, Florida, and Texas, which combined are home to nearly 30% of its stores. 

Based in Fort Myers, Florida, Chico's operates about 1,400 stores across more than 45 states, Puerto Rico, the US Virgin Islands and Canada. It also operates more than 80 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, national and local print and broadcast advertising, editorial content, public relations, philanthropy, and outreach programs. 

The company's advertising expense was approximately $102.5 million, $94.5 million, and $115.4 million for the years 2018, 2017, and 2016, respectively. 

Financial Performance

Chico's FAS has recorded declining revenue in recent years, amid a challenging retail environment. The company's sales have fallen by 20% in the past five years. 

Revenue fell to $2.1 billion in fiscal 2018, a 6% decline from the previous year. The decline was driven in part by a comparable sales decline of nearly 5% and a 3% net decrease in selling square footage in 2018. 

Net income was $36 million in fiscal year 2018, a drop from $101 million in fiscal year 2017. Selling, general and administrative expenses remained mostly unchanged at $720 million in fiscal 2018.  

Cash provided by operating activities was $158.7 million in fiscal 2018, while investing activities used $56 million. Financing activities provided another $138 million.

Strategy

Chico's is working on a turnaround following several years of declining sales. 

To improve profitability, the company has undertaken a store closure program. Chico's expects to close 100 Chico's, 90 White House Black Market, and 60 Soma locations over the next three years. The company has also been the target of several unsolicited buyout offers, which it has rejected. 

Chico's expects to drive growth through improved product and marketing, leveraging its omnichannel platforms, offering new product innovations to customers, and improving the sourcing and supply chain operations to increase product speed to market and improve quality.

Maximizing digital sales is also a priority. The company launched a digital-only intimate apparel brand TellTale in 2019. The brand targets women aged 25 to 40 and offers a streamlined way to shop for underwear based on consistent sizing and key silhouettes. 

Company Background

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

Chico's Fas, Inc.

11215 METRO PKWY
Fort Myers, FL 33966-1206
Phone: 1 (239) 277-6200

Stats

Employer Type: Publicly Owned
Stock Symbol: CHS
Stock Exchange: , NYSE
President, CEO, and Director: Shelley G. Broader
President, Chico's Brand: Diane M. Ellis
Chairman: David F. Walker
Employees (This Location): 880
Employees (All Locations): 18,500

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
Lafayette, CA
Laguna Beach, CA
La Jolla, 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
Oxnard, 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 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
Southbury, CT
South Windsor, CT
Stamford, CT
Uncasville, CT
Waterford, 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
Fort Myers, FL
Gainesville, FL
Jacksonville, FL
Jupiter, 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
Tupelo, 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
Coralville, IA
Davenport, IA
Sioux City, IA
West Des Moines, IA
Boise, ID
Meridian, ID
Algonquin, IL
Burr Ridge, IL
Champaign, IL
Chicago, IL
Deer Park, 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
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
Lafayette, LA
Mandeville, LA
Metairie, LA
Monroe, LA
New Orleans, LA
Shreveport, LA
Acton, MA
Boston, MA
Braintree, MA
Burlington, MA
Canton, MA
Chestnut Hill, MA
Dedham, MA
Hingham, MA
Longmeadow, MA
Lynnfield, MA
Marlborough, MA
Mashpee, MA
Natick, MA
North Andover, MA
Peabody, 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
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
Bay Shore, NY
Bayside, NY
Cheektowaga, 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
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
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
Center Valley, PA
Collegeville, PA
Cranberry Township, PA
Erie, PA
Exton, PA
Glen Mills, PA
Grove City, PA
Harrisburg, 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
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
Corpus Christi, TX
Cypress, TX
Dallas, TX
El Paso, TX
Fort Worth, TX
Friendswood, TX
Frisco, TX
Garland, TX
Grand Prairie, 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
Norfolk, 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