Chico's news and archive

Chico’s FAS becomes part of Sycamore Partners KnitWell Group

Private equity firm Sycamore Partners has announced the completion of its acquisition of Chico’s FAS in an all-cash transaction valued at approximately one billion dollars. Following the acquisition, the apparel group is now a privately held company and part of KnitWell Group, a holding company created last year by the private equity firm that...

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Chico’s delivers ‘in line’ Q3 results, withdraws 2023 outlook

Chico’s FAS has published its financial results for the 13-week period ended October 28, 2023, during which time it said that it had delivered results “in line” with its previously issued outlook. The company reported a net income of five million dollars, or four cents per diluted share, compared to the previous year’s income of 24.6 million...

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Sycamore snaps up Chico’s in one billion dollar deal

Private equity firm Sycamore Partners has announced the acquisition of Chico’s FAS for a substantial one billion dollars, with the move to also see the apparel group become a privately held company upon completion of the transaction. Shareholders at Chico’s will each receive 7.60 dollars per share in cash as part of the agreement, with the...

Business

Chico’s posts widening Q2 profits despite decline in sales

US retailer Chico’s has updated its full-year outlook after reporting a decline in sales but widening earnings in the second quarter. The women's clothing and accessories company generated sales of 545.1 million dollars in the three months ended July 29, a drop of 2.4 percent year-on-year which it said primarily reflected a comparable sales...

Business

Chico’s names new EVP, chief financial officer

Womenswear apparel group Chico’s FAS has announced that its senior vice president, finance, controller and chief accounting officer David Oliver has been appointed to the role of executive vice president, chief financial officer and chief accounting officer, effective June 24. The company, which also owns Soma and White House Black Market, said...

Business

Chico’s posts increase in Q1 profit, but lowers FY outlook

US retailer Chico’s has lowered its full-year outlook after reporting widening profits but a drop in sales in the first quarter. The women's clothing and accessories company posted a net income of 39.9 million dollars in the three months to April 29, up from 34.9 million dollars a year earlier. Despite the increase in profitability, the retailer...

Business

Chico’s FY22 earnings jump, sales up 18.3 percent

Chico's FAS posted net income of 109 million dollars or 88 cents per diluted share for fiscal 2022, an increase of 138 percent over last year, driven by strong comparable sales growth, significant gross margin expansion, and diligent expense control. For fiscal 2022, Chico's FAS net sales grew 18.3 percent to 2,142 million dollars and comparable...

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Chico’s lowers fourth quarter sales and earnings outlook

Ahead of the company’s participation in the ICR Conference, Chico’s FAS said that it now expects total fourth quarter net sales to range from 505 million dollars to 515 million dollars and diluted loss per share to range from 2 cents to 0 cents. During the third quarter results announcement, the company forecasted fourth quarter consolidated net...

Business

Chico’s posts rise in Q3 net sales and earnings

For the third quarter, Chico’s reported net income of 24.6 million dollars or 20 cents per diluted share compared to 18.2 million dollars or 15 cents per diluted share, for last year's third quarter. Net sales for the quarter were 518.3 million dollars, up 14.3 percent improvement primarily reflecting a comparable sales increase of 16.5 percent,...

Business

Christine Munnelly joins Chico’s as SVP of merchandising & design for Soma

Chico's FAS, Inc. has announced the appointment of executive Christine Munnelly as the senior vice president of merchandising & design at Soma. The company said in a release that she will be responsible for the product, design and overall strategy for Soma and will report directly to Molly Langenstein, CEO and president of Chico's FAS....

Chico's Q2 revenue up 18 percent, profits widen

US women's clothing and accessories retailer Chico’s has reported an 18.4 percent increase in sales in the second quarter. In the three months ending July 30, net sales were 558.7 million dollars, up from 472.1 million dollars a year earlier. The company said this growth reflected a comparable sales increase of 19.5 percent, though that was...

Business

Chico’s swings to profit, comparable sales jump 40.6 percent

Chico's FAS, Inc. posted 43.9 million dollars or 28 cents net income per diluted share for the first quarter compared to a net loss of 8.9 million dollars or 8 cents loss per diluted share, for last year's first quarter. Net sales were 540.9 million dollars, up 39.4 percent reflecting a comparable sales increase of 40.6 percent, partially offset...