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{{short description|American retail company}}
{{More citations needed|date=January 2015}}
{{Infobox company
{{Infobox company
| name = Chico's FAS, Inc.
| name = Chico's FAS, Inc.
| logo = Chico's FAS logo.svg
| logo = Chico's FAS logo.svg
| logo_size = 260px
| logo_size = 260px
| type = [[Public company|Public]]
| type = [[Private company|Private]]
| traded_as = {{Unbulleted list|{{NYSE|CHS}}|[[S&P 600]] component}}
| traded_as = {{ubl|{{NYSE was|CHS}}}}
| area_served = United States<br />Puerto Rico<br / >U.S. Virgin Islands<br / >Canada
| area_served = {{ubl|United States|Puerto Rico|U.S. Virgin Islands|Canada}}
| key_people =
| key_people =
| industry = Retail
| industry = Retail
| products = [[Clothing|Apparel]] and [[Fashion accessory|accessories]]
| products = [[Clothing|Apparel]] and [[Fashion accessory|accessories]]
| services =
| services =
| revenue = 2013 net sales of $2.6 billion.
| revenue = $2.1 billion (2018)<ref name="2018 Annual Report" />
| operating_income = 2013 operating income of $142 million
| operating_income = $43.6 million (2018)<ref name="2018 Annual Report" />
| net_income = $65.9 million [2013]
| net_income = $35.6 million (2018)<ref name="2018 Annual Report" />
| num_employees = 23,700 [2013]
| num_employees = 18,500 (2018)<ref name="2018 Annual Report" />
| foundation = 1983
| foundation = {{start date and age|1983}} (as Folk Art Specialties)
| location_city = [[Fort Myers, FL]]
| location_city = [[Fort Myers, Florida]]
| location_country = U.S.
| location_country = U.S.
| location =
| location =
| owner = [[Sycamore Partners]]
| locations = '''Chico's''':<br>624 boutique, 118 outlet<br>'''[[White House Black Market]]''':<br>451 boutique, 67 outlet stores<br>'''Soma''':<br>263 boutique, 17 outlet stores<br><ref name="Chico's FAS Inc Form 8-k">{{cite web | url=http://chicos.q4cdn.com/42b007fe-6d4a-4e90-ae9e-fddb7afa9d92.pdf | title=Chico's FAS Inc Form 8-k}}</ref>
| locations = {{ubl|'''Chico's''':|551 boutique, 125 outlet (2018)|'''[[White House Black Market]]''':|390 boutique, 65 outlet stores (2018)|'''Soma''':|258 boutique, 19 outlet stores (2018)<ref name="2018 Annual Report">{{cite web |url=https://sec.report/Document/0000897429-19-000061 |title=Chico's FAS, Inc. 2018 Annual Report |access-date=2020-01-21 }}{{Dead link|date=December 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>}}
| website = {{URL|https://www.chicosfas.com}}
}}
}}
[[File:A Chico's clothing retail shop in Chattanooga, Tennessee.jpg|thumb|A Chico's store in [[Chattanooga, Tennessee]]]]
⚫
'''Chico's FAS, Inc.''' is an American women's clothing and accessories retailer founded in 1983 on [[Sanibel Island|Sanibel Island, Florida]]. Founded by Marvin and Helene Gralnick, it is headquartered in [[Fort Myers, Florida]] and operates four brands: its namesake Chico's store, [[White House Black Market]], Soma and TellTale.<ref name="Chico's FAS History">{{cite web |url=http://chicosfas.com/about-us/chicos-fas-history/default.aspx |title=Chico's FAS History}}</ref><ref>{{cite web |url=http://www.marketwatch.com/investing/stock/chs/profile |title=CHS Key Statistics - Chico's FAS Inc Financial Ratios}}</ref>


As of October 2019, Chico's FAS operated 1,376 women's clothing stores in the US and Canada, and sold merchandise online. Merchandise was also sold through franchise locations in Mexico and U.S. airport locations.<ref name="Chico's FAS Inc Form 8-k">{{cite web |url=http://chicos.q4cdn.com/42b007fe-6d4a-4e90-ae9e-fddb7afa9d92.pdf |title=Chico's FAS Inc Form 8-k}}</ref>
⚫
'''Chico's''' is a retail women's clothing chain founded in 1983 by a three-person operation on [[Sanibel Island|Sanibel Island, Florida]]. Chico's FAS, Inc. is an American women’s clothing and accessories retailer. The company was founded by Marvin and Helene Gralnick and is headquartered in [[Fort Myers, Florida]]. Chico's FAS operates three brands: its namesake Chico's, [[White House Black Market]] and Soma.<ref name="Chico's FAS History">{{cite web | url=http://chicosfas.com/about-us/chicos-fas-history/default.aspx | title=Chico's FAS History}}</ref><ref>{{cite web | url=http://www.marketwatch.com/investing/stock/chs/profile | title=CHS Key Statistics - Chico's FAS Inc Financial Ratios}}</ref> As of November 1, 2014, Chico's FAS operated 1,557 women's clothing stores in the US and Canada and sold merchandise through franchise locations in Mexico.<ref name="Chico's FAS Inc Form 8-k"/>

On January 5, 2024, [[Sycamore Partners]] completed the acquisition of the company for approximately 1 billion dollars.<ref>{{Cite press release|url=https://www.prnewswire.com/news-releases/sycamore-partners-completes-acquisition-of-chicos-fas-inc-302027189.html|title=Sycamore Partners Completes Acquisition of Chico's FAS, Inc.|work=PR Newswire|access-date=2024-01-07|language=en}}</ref>


==History==
==History==


=== 1972–1990 ===
=== 1972–1990 ===
Founders Marvin and Helene Gralnick met in 1972 while living in Guadalajara, Mexico. In 1983, they opened a tiny Mexican folk art gift shop in Periwinkle Place on Sanibel Island, Florida.<ref name="History of Chico's FAS">{{cite web | url=http://www.fundinguniverse.com/company-histories/chico-s-fas-inc-history/ | title=History of Chico's FAS}}</ref> Helene named the shop '''F'''olk ''A''rt '''S'''pecialties and then changed the name to Chico's Folk Art Specialties after a friend’s pet parrot, Chico.<ref name="History of Chico's FAS"/> The store sold mostly art, but the sweaters in the store outsold everything else, so Chico's Folk Art Specialties transformed into a clothing boutique.<ref name="Chico's FAS History"/><ref name="History of Chico's FAS"/>
Founders Marvin and Helene Gralnick met in 1972 while living in [[Guadalajara|Guadalajara, Mexico]]. In 1983, they opened a tiny Mexican folk art gift shop in Periwinkle Place on Sanibel Island, Florida.<ref name="History of Chico's FAS">{{cite web | url=http://www.fundinguniverse.com/company-histories/chico-s-fas-inc-history/ | title=History of Chico's FAS}}</ref> Helene named the shop '''F'''olk '''A'''rt '''S'''pecialties and then changed the name to Chico's Folk Art Specialties after a friend's pet parrot, Chico.<ref name="History of Chico's FAS"/> The store sold mostly art, but the sweaters in the store outsold everything else, so Chico's Folk Art Specialties transformed into a clothing boutique.<ref name="Chico's FAS History"/><ref name="History of Chico's FAS"/>


In 1985, Chico's Folk Art Specialties opened a second boutique on Captiva Island, Florida. All early boutiques were infused with Mexican folk art combined with antiques and fixtures manufactured in Marvin’s in-house woodshop.<ref name="Chico's FAS History"/><ref name="History of Chico's FAS"/>
In 1985, Chico's Folk Art Specialties opened a second boutique on [[Captiva, Florida|Captiva Island, Florida]]. All early boutiques were infused with Mexican folk art combined with antiques and fixtures manufactured in Marvin's in-house woodshop.<ref name="Chico's FAS History"/><ref name="History of Chico's FAS"/>


In the beginning, Marvin and Helene would not close the store until they reached a certain amount of sales each day. They also could not afford to have bags printed, so the name was handwritten on each bag.<ref name="Chico's FAS History"/>
In the beginning, Marvin and Helene would not close the store until they reached a certain amount of sales each day. They also could not afford to have bags printed, so the name was handwritten on each bag.<ref name="Chico's FAS History"/>


The first franchise store opened in Edina, Minnesota in 1987. In 1989, the company shortened its name to Chico's FAS (an abbreviation for Folk Art Specialties) and launched the Passport Loyalty Rewards program.<ref name="Chico's FAS History"/>
The first [[franchise store]] opened in [[Edina, Minnesota]], in 1987. In 1989, the company shortened its name to Chico's FAS (an abbreviation for Folk Art Specialties) and launched the Passport Loyalty Rewards program.<ref name="Chico's FAS History"/>


=== 1991–2000 ===
=== 1991–2000 ===
In 1991, Chico's FAS expanded into cities ranging from Santa Fe, New Mexico to Newport, Rhode Island. By 1992, the company operated 60 boutiques and began designing its own prints and patterns.<ref name="Chico's FAS History"/>
By 1992, the company operated 60 boutiques and began designing its own prints and patterns.<ref name="Chico's FAS History"/>


Chico's FAS went public in 1993 and began trading on NASDAQ under the title CHCS. It premiered its Most Amazing Personal Service (MAPS) customer service initiative in 1998. Between 1998 and 2000, Chico's sales increased an average of 50 percent per year.<ref name="Chico's FAS History"/><ref name="History of Chico's FAS"/>
Chico's FAS went public in 1993 and began trading on [[Nasdaq|NASDAQ]] under the title CHS. It premiered its Most Amazing Personal Service (MAPS) customer service initiative in 1998, which still remains as part of the company's focus as of 2018.<ref>{{cite web | url=https://www.forbes.com/sites/glennllopis/2018/11/04/inclusion-as-a-growth-strategy-part-4-how-to-personalize-for-millions-of-customers/#7915aebb34fa|title=Inclusion As A Growth Strategy Part 4: How To Personalize For Millions Of Customers|website=Forbes | language=en| access-date=2020-03-02}}</ref> Between 1998 and 2000, Chico's sales increased an average of 50 percent per year.<ref name="Chico's FAS History"/><ref name="History of Chico's FAS"/> In 2010, Chico's FAS began online sales at Chicos.com. It also began advertising in national magazines, including ''[[Martha Stewart Living]]'' and ''[[Marie Claire]]''.<ref name="Chico's FAS History"/>

In 1999, Chico's FAS began online sales at Chicos.com in 1999. It also began advertising in national magazines, including Martha Stewart Living and Marie Claire.<ref name="Chico's FAS History"/>


=== 2001–2010 ===
=== 2001–2010 ===
In 2001, the Chico's FAS Founders building opened in Fort Myers, Florida, and Chico's FAS debuted on the New York Stock Exchange.<ref name="Chico's FAS History"/><ref name="History of Chico's FAS"/>
In 2001, the Chico's FAS Founders building opened in [[Fort Myers, Florida]], and Chico's FAS debuted on the New York Stock Exchange.<ref name="Chico's FAS History"/><ref name="History of Chico's FAS"/>


Chico's FAS aired its first commercial in six major markets on ''The Today Show'', ''Good Morning America'', and ''The Oprah Winfrey Show'', and on ''Martha Stewart Living''.<ref name="Chico's FAS History"/>
Chico's FAS aired its first commercial in six major markets on ''The Today Show'', ''Good Morning America'', ''The Oprah Winfrey Show'', and ''Martha Stewart Living''.<ref name="Chico's FAS History"/>


Average new store sales reached $1.45 million per year in 2003. The next year, Chico's FAS acquired White House Black Market, a women’s clothing company that focuses on white, black, and other variants of the two colors. Chico's FAS also launched Soma, an intimate apparel boutique.<ref name="Chico's FAS History"/>
Average new store sales reached $1.45 million per year in 2003. The next year, Chico's FAS acquired White House Black Market, a women's clothing company that focuses on white, black, and other variants of the two colors. Chico's FAS also launched Soma, an intimate apparel boutique.<ref name="Chico's FAS History"/>


In 2006, Chico's FAS added 24 acres to the Fort Myers campus to support growth and stock reached a high of $49.40.<ref name="Chico's FAS History"/>
In 2006, Chico's FAS added 24 acres to the Fort Myers campus to support growth, and stock reached a high of $49.40.<ref name="Chico's FAS History"/>


=== 2011–present ===
=== 2011–present ===
In 2011, Chico's FAS acquired Boston Proper, which is a brand available online or by catalog.<ref>{{cite web | url=http://topics.nytimes.com/top/news/business/companies/chicos-fas-inc/index.html | title=Chico's FAS Inc. News - New York Times}}</ref> Two years later, Boston Proper opened its first boutique at Coconut Point in Estero, Florida.<ref name="Chico's FAS History"/>
In 2011, Chico's FAS acquired [[Boston Proper]], which is a brand available online or by catalog.<ref>{{cite web | url=http://topics.nytimes.com/top/news/business/companies/chicos-fas-inc/index.html | title=Chico's FAS Inc. News - New York Times}}</ref> Two years later, Boston Proper opened its first boutique at Coconut Point in Estero, Florida.<ref name="Chico's FAS History"/>


⚫
In 2013, Chico's FAS expanded internationally by opening White House Black Market stores in Canada.<ref>{{cite web | url=http://www.just-style.com/news/chicos-whbm-embarks-on-international-expansion_id119374.aspx | title=CANADA: Chico's WHBM embarks on international expansion | access-date=2015-01-23 | archive-date=2015-01-23 | archive-url=https://web.archive.org/web/20150123212859/http://www.just-style.com/news/chicos-whbm-embarks-on-international-expansion_id119374.aspx | url-status=dead }}</ref> On May 13, 2014, Chico's FAS announced expansion of the Chico's brand into Canada.<ref name="prnewswire.com">{{cite press release | url=http://www.prnewswire.com/news-releases/chicos-fas-announces-international-expansion-259041741.html | title=Chico's FAS Announces International Expansion}}</ref> Three boutiques have since opened in Canada.<ref name="Chico's FAS Inc Form 8-k"/> Further international expansion has occurred with its namesake Chico's into Mexico in 2014. Through an exclusive franchise with El Puerto de Liverpool ("Liverpool"), Chico's opened a stand-alone boutique at Perisur Mall, Mexico City. Plans for further Chico's expansion into Mexico include more openings of stand-alone boutiques as well as branded shop-in-shops in Liverpool department stores.<ref name="prnewswire.com"/>
{{As of|January 2014}}, Chico's FAS Inc was accused, by a Florida-based handbag designer, in a lawsuit of forcing the designer "to copy other designers’ creations."<ref name="Suit Against Chico's Alleges Copying">{{cite web | url=http://www.wwd.com/business-news/legal/suit-against-chicos-alleges-copying-7339562?src=nl/mornReport/20140108 | title=Suit Against Chico's Alleges Copying | publisher=WWD | date=8 January 2014 | accessdate=8 January 2014 | author=Feitelberg, Rosemary}}</ref>


In 2016, Chico's FAS sold Boston Proper to Brentwood Associates, an investment firm in Los Angeles.<ref>{{Cite news|url=https://www.sun-sentinel.com/business/consumer/fl-boston-proper-acquisition-20160119-story.html|title=Chico's sells women's clothing retailer Boston Proper|last=Valverde|first=Miriam|work=Sun-Sentinel.com|access-date=2018-11-07|language=en-US|archive-date=2018-11-08|archive-url=https://web.archive.org/web/20181108025632/https://www.sun-sentinel.com/business/consumer/fl-boston-proper-acquisition-20160119-story.html|url-status=dead}}</ref>
⚫
In 2013, Chico's FAS expanded internationally by opening White House Black Market stores in Canada.<ref>{{cite web | url=http://www.just-style.com/news/chicos-whbm-embarks-on-international-expansion_id119374.aspx | title=CANADA: Chico's WHBM embarks on international expansion}}</ref> On May 13, 2014, Chico's FAS announced expansion of the Chico's brand into Canada.<ref name="prnewswire.com">{{cite web | url=http://www.prnewswire.com/news-releases/chicos-fas-announces-international-expansion-259041741.html | title=Chico's FAS Announces International Expansion}}</ref> Three boutiques have since opened in Canada.<ref name="Chico's FAS Inc Form 8-k"/> Further international expansion has occurred with its namesake Chico's into Mexico in 2014. Through an exclusive franchise with El Puerto de Liverpool ("Liverpool"), Chico's opened a stand-alone boutique at Perisur Mall, Mexico City. Plans for further Chico's expansion into Mexico include more openings of stand-alone boutiques as well as branded shop-in-shops in Liverpool department stores.<ref name="prnewswire.com"/>

In 2017, the company launched its first online outlet store, Chico's Off The Rack.<ref>{{Cite web |url=https://us.fashionnetwork.com/news/chico-s-launches-new-off-price-website,899501.html|title=Chico's launches new off-price website|last=|first=|date=2017-12-06|website=Fashion Network|language=|url-status=live|archive-url=https://web.archive.org/web/20200317184731/https://us.fashionnetwork.com/news/chico-s-launches-new-off-price-website,899501.html |archive-date=2020-03-17 |access-date=}}</ref> Also in 2017, the company Chico's began selling on cruise ships through Princess Cruises and Starboard Cruise Services.<ref>{{Cite web|url=https://www.sec.gov/Archives/edgar/data/897429/000089742918000022/chs-usx20180228transcript.htm|title=Chico's FAS, Inc. Q4 2017 Earnings|date=2018-02-28|website=SEC|access-date=2020-03-31}}</ref> In 2019, Chico's announced it was opening airport stores in partnership with airport retailer operator Stellar Partnerships.<ref>{{Cite web|url=https://www.moodiedavittreport.com/stellar-partners-unveils-white-house-black-market-at-baltimore-washington-airport/|title=Stellar Partners unveils White House Black Market at Baltimore Washington Airport|date=2019-05-09|website=The Moodie Davitt Report|language=en-GB|access-date=2020-03-12}}</ref><ref>{{Cite web|url=https://www.trbusiness.com/regional-news/the-americas/stellar-and-marketplace-upgrade-retail-offer-at-philadelphia-airport/176316|title=Stellar and MarketPlace upgrade travel retail offer at Philadelphia Airport {{!}} Travel Retail Business|last=|first=|last2=|first2=|date=2019-11-05|website=Trbusiness|language=en-US|url-status=live|archive-url=https://web.archive.org/web/20191105230246/https://www.trbusiness.com/regional-news/the-americas/stellar-and-marketplace-upgrade-retail-offer-at-philadelphia-airport/176316 |archive-date=2019-11-05 |access-date=2020-03-12}}</ref> The company also started selling online through Amazon and ShopRunner.<ref>{{Cite web|url=https://www.businessobserverfl.com/article/retailer-reframes-industry-internal-challenges|title=Retailer reframes industry, internal challenges {{!}} Business Observer|date=2019-12-02|website=Business Observer|language=en|access-date=2020-04-06}}</ref><ref>{{Cite web|url=https://www.forbes.com/sites/steveolenski/2018/09/20/who-would-be-bold-enough-to-take-on-amazon-prime/|title=Who Would Be Bold Enough To Take On Amazon Prime?|last=Olenski|first=Steve|website=Forbes|language=en|access-date=2020-04-06}}</ref>


==Chico's FAS brands==
==Chico's FAS brands==


===Chico's===
===Chico's===
Chico's primarily sells private branded clothing for women, with a focus on jackets, statement jewelry and clothing with bold prints and patterns.<ref>{{cite web | url=http://chicosfas.com/our-brands/chicos/default.aspx | title=Chico's FAS Inc. - Our Brands}}</ref> The brand has its own unique sizing that runs from 000-4.5.<ref name="How to Shop Chico's">{{cite web | url=http://www.thebudgetfashionista.com/archive/how-to-shop-chicos/ | title=How to Shop Chico's}}</ref>
The Chico's brand was founded in 1983 and originally started as a small boutique selling Mexican folk art and apparel on Sanibel Island, Florida.<ref name="History of Chico's FAS" /> Today, Chico's primarily sells private branded clothing for women.<ref>{{cite web | url=http://chicosfas.com/our-brands/chicos/default.aspx | title=Chico's FAS Inc. - Our Brands}}</ref> The brand has its own unique sizing that runs from 000 to 4.<ref name="How to Shop Chico's">{{cite web | url=http://www.thebudgetfashionista.com/archive/how-to-shop-chicos/ | title=How to Shop Chico's| date=10 November 2011}}</ref>


===White House Black Market===
===White House Black Market===
The White House Black Market brand began in 1985 in Baltimore, Maryland and was acquired by Chico's FAS in 2003.<ref>{{cite web | url=http://www.prnewswire.com/news-releases/chicos-fas-inc-completes-the-acquisition-of-the-white-house-inc-71035187.html | title=Chico's FAS, Inc. Completes the Acquisition of The White House, Inc.}}</ref> It primarily offers exclusively designed, private label women’s clothing and accessory items with a "boutique feel".{{clarify|date=July 2016}} Accessory items range from shoes to scarves to jewelry and belts.<ref name="whitehouseblackmarket.com">{{cite web | url=http://www.whitehouseblackmarket.com/store/ | title=White House Black Market - Shop Women's Clothing Online}}</ref> The focus of each seasonal assortment ranges from everyday basics, to wear-to-work, to fashion in monochromatic black, white, and related shades with "seasonal color splashes".<ref>{{cite web | url=http://chicosfas.com/our-brands/white-houseblackmarket/default.aspx | title=WhiteHouseBlackMarket}}</ref>
The [https://www.whitehouseblackmarket.com/store White House Black Market] brand began in 1985 in [[Baltimore, Maryland]], and was acquired by Chico's FAS in 2003.<ref>{{cite web |url=http://www.prnewswire.com/news-releases/chicos-fas-inc-completes-the-acquisition-of-the-white-house-inc-71035187.html |title=Chico's FAS, Inc. Completes the Acquisition of The White House, Inc.}}</ref> It primarily offers exclusively designed, private label women's clothing and accessory items with a "boutique feel".{{clarify|date=July 2016}} Accessory items range from shoes to scarves to jewelry and belts.<ref name="whitehouseblackmarket.com">{{cite web |url=http://www.whitehouseblackmarket.com/store/ |title=White House Black Market - Shop Women's Clothing Online}}</ref> The focus of each seasonal assortment ranges from everyday basics, to wear-to-work, to fashion in monochromatic black, white, and related shades with "seasonal color splashes".<ref>{{cite web |url=http://chicosfas.com/our-brands/white-houseblackmarket/default.aspx |title=WhiteHouseBlackMarket}}</ref>


===Soma===
===Soma===
[[File:A Soma store.jpg|thumb|A Soma store]]
Soma was launched by Chico's FAS in 2004.<ref name="Chico's FAS History"/> The brand primarily sells lingerie, sleepwear and beauty products. The brand also offers dresses and loungewear. Lines with "slimming [[solution]]s" include loungewear, swimwear and corsetry.<ref>{{cite web | url=http://chicosfas.com/our-brands/soma/default.aspx | title=Soma}}</ref>
[https://www.soma.com/store/ Soma] was launched by Chico's FAS in 2004.<ref name="Chico's FAS History"/> The brand primarily sells bras and sleepwear. The brand also offers dresses, loungewear, swimwear, shapewear, and lingerie. The associates measure women for the correct bra fit and then suggests the most appropriate sizes and styles. This service is performed accurately by their own fleet of expert bra fitters.<ref name=":1">{{Cite web|url=https://chicosfas.com/our-brands/soma/default.aspx |url-status=live |title=RIGHT BRA. RIGHT FIT. WE GUARANTEE IT. |access-date=2021-02-14|archive-url=https://web.archive.org/web/20140421235025/http://www.chicosfas.com:80/our-brands/soma/default.aspx |archive-date=2014-04-21 }}</ref> The brand was started by women and according to their own corporate landing page is still led by a customer facing fleet consisting of female leadership and staff.


==Stores==
=== TellTale ===
TellTale is an online underwear brand launched in 2019.<ref>{{Cite web|url=https://www.forbes.com/sites/pamdanziger/2019/04/28/chicos-telltale-intimates-brand-is-the-start-to-reach-a-digitally-empowered-younger-customer/|title=Chico's Needs Younger Customers And TellTale Intimates Brand Is Its Start|last=|first=|date=|website=Forbes|language=|url-status=live|archive-url=https://web.archive.org/web/20190428140504/https://www.forbes.com/sites/pamdanziger/2019/04/28/chicos-telltale-intimates-brand-is-the-start-to-reach-a-digitally-empowered-younger-customer/ |archive-date=2019-04-28 |access-date=2020-02-27}}</ref> It was phased out in 2023.<ref>{{Cite web|url= https://www.soma.com/store/search/?searchTerms=telltale&emptySearch=true&searchLabel=telltale&page=1|title=Search Results - Soma}}</ref>
As of November 1, 2014, Chico's FAS had 1,557 store locations. Stores are located in 48 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and Canada. As of November 1, 2014, the store breakdown per brand was as follows:<ref name="Chico's FAS Inc Form 8-k"/>

* Chico's: 624 boutiques (three in Canada); 118 outlets
* White House Black Market: 451 boutiques (five in Canada); 67 outlets
* Soma: 263 boutiques; 17 outlets

==Advertising and promotion==
Chico's FAS' marketing program consists of several components including rewards programs, direct marketing activities including direct mail and email, digital marketing efforts, social marketing and outreach programs.<ref>{{cite web | url=http://chicosfas.com/files/doc_financials/Annual%20Reports/FY13%20Annual%20Report.PDF | title=Chico's FAS Inc. 2013 Annual Report}}</ref><ref name="wikinvest.com">{{cite web | url=http://www.wikinvest.com/stock/Chico's_FAS_(CHS)/Advertising_Promotion | title=Advertising and Promotion for Chico's FAS}}</ref>

==Recognition==
In 1989, Chico's FAS was listed in Inc. magazine’s 500 fastest-growing, privately held companies in America. In 1993, Chico's FAS placed 13th on the BusinessWeek’s list of the 100 Best Small Corporations.<ref name="Chico's FAS History"/>

In 2001, Chico's FAS earned a place on Fortune’s 100 Fastest-Growing Companies, BusinessWeek’s 100 Best Small Companies, and the number one spot on Forbes’ 200 Best Small Companies.<ref name="nreionline.com">{{cite web | url=http://nreionline.com/news/retailers-make-forbes-200-best-small-companies-list | title=Retailers make the Forbes 200 best small companies list}}</ref> The following year, Oprah named Chico's Silver Ox Cuff Watch one of her “Favorite Things.” <ref>{{cite web | url=http://www.giftgivingguy.com/2011/05/oprahs-favorite-things.html | title=Oprah's Favorite Things}}</ref>

On April 20, 2005, the Bellwether Report identified the company and analysts began to track Chico's FAS because of its significant corporate development during that time.<ref>{{cite web | url=http://www.m2.com/m2/web/story.php/2006D92CDDB6405839B0802571D400674300 | title=Bellwether Report is looking at Chico's FAS Inc.}}</ref>


==Management==
==Management==


=== Leadership ===
=== Leadership ===
The current leadership is:
The current leadership is:<ref>{{cite web | url=http://chicosfas.com/about-us/management/default.aspx | title=Chico's FAS Inc. Management}}</ref>
<ref>{{cite web | url=http://www.ruthshawinc.com/index.html | title=RuthShaw INC}}</ref>
* President and Chief Executive Officer, Director: Shelley Broader
* Brand President - Chico's: Diane Ellis
* Brand President – White House Black Market: David Pastrana
* Brand President – Soma: Laurie Van Brunt
* Executive Vice President - Chief Financial Officer and Assistant Corporate Secretary: Todd E. Vogensen
* Executive Vice President - Chief Legal Counsel: Susan S. Lanigan
* Executive Vice President - Chief Human Resources Officer: Kristin L. Oliver
* Executive Vice President - Chief Information Officer: Ann E. Joyce
* Group Vice President Finance - Controller, Chief Accounting Officer and Treasurer: David M. Oliver


* President and chief executive officer, Director: Bonnie R. Brooks<ref name=":0">{{Cite web|url=https://www.naplesnews.com/story/money/business/local/2019/07/20/chicos-fas-chooses-new-ceo-president-bonnie-brooks-womens-retail/1771668001/|title=Chico's FAS appoints new CEO and president, announces other leadership changes|last=Layden|first=Laura|website=Naples Daily News|language=en|access-date=2020-02-25}}</ref>
=== Board of directors ===
*President, Apparel Group: Molly Langenstein<ref name=":0" />
Source:<ref>{{cite web | url=http://chicosfas.com/about-us/board-of-directors/default.aspx | title=Chico's FAS Inc. Board of Directors}}</ref>
* President, Chief Executive Officer & Director: Shelley Broader
*President, Intimates Group: Mary van Praag<ref name=":0" />
*Vice President / CMO, Intimates Group: Cristina Ceresoli<ref name=":0" />
* Director and member of the Corporate Governance and Nominating Committee: [[Bonnie Brooks|Bonnie R. Brooks]]
* Director and member of the Corporate Governance & Nominating Committee: Janice L. Fields
* Director and Chairman of the Compensation & Benefits Committee: John J. Mahoney
* Director and Non-Executive Chairman of the Board & Executive Committee: Ross E. Roeder
* Director and member of the Compensation and Benefits Committee: William S. Simon
* Director and Chairman of the Audit Committee: David F. Walker
* Director and member of the Audit & Compensation and Benefits Committees: Stephen E. Watson
* Director & member of the Merchant and Compensation and Benefits Committees: Andrea M. Weiss

==Philanthropy==
Chico's FAS and its brands participate in organizations helping women's and children's health, well-being, and education. Chico's FAS has done work with [[Living Beyond Breast Cancer]] (LBBC) and Children’s Miracle Network Hospitals (CMN Hospitals).<ref name="Chico's begins May fundraiser">{{cite web | url=http://amarillo.com/blog-post/bizstream/2014-04-23/chico%E2%80%99s-begins-may-fundraiser | title=Chico's begins May fundraiser}}</ref>


== References ==
== References ==
{{Reflist}}
{{Reflist}}

== External links ==
* {{official|https://www.chicosfas.com}}
* [https://www.chicos.com/store/ Official ecommerce website]
{{Finance links historical
| name = Chico's FAS, Inc.
| sec_cik = 897429
}}

{{Authority control}}


{{DEFAULTSORT:Chicos}}
{{DEFAULTSORT:Chicos}}
[[Category:Clothing retailers of the United States]]
[[Category:Clothing retailers of the United States]]
[[Category:Companies based in Florida]]
[[Category:Companies based in Lee County, Florida]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies formerly listed on the New York Stock Exchange]]
[[Category:Fort Myers, Florida]]
[[Category:Fort Myers, Florida]]
[[Category:Retail companies established in 1983]]
[[Category:1983 establishments in Florida]]
[[Category:1993 initial public offerings]]
[[Category:Companies that have filed for bankruptcy in Canada]]
[[Category:2024 mergers and acquisitions]]

Latest revision as of 03:17, 31 May 2024

Chico's FAS, Inc.
Company typePrivate
IndustryRetail
Founded1983; 41 years ago (1983) (as Folk Art Specialties)
Headquarters
Fort Myers, Florida
,
U.S.
Number of locations
  • Chico's:
  • 551 boutique, 125 outlet (2018)
  • White House Black Market:
  • 390 boutique, 65 outlet stores (2018)
  • Soma:
  • 258 boutique, 19 outlet stores (2018)[1]
Area served
  • United States
  • Puerto Rico
  • U.S. Virgin Islands
  • Canada
ProductsApparel and accessories
Revenue$2.1 billion (2018)[1]
$43.6 million (2018)[1]
$35.6 million (2018)[1]
OwnerSycamore Partners
Number of employees
18,500 (2018)[1]
Websitewww.chicosfas.com
A Chico's store in Chattanooga, Tennessee

Chico's FAS, Inc. is an American women's clothing and accessories retailer founded in 1983 on Sanibel Island, Florida. Founded by Marvin and Helene Gralnick, it is headquartered in Fort Myers, Florida and operates four brands: its namesake Chico's store, White House Black Market, Soma and TellTale.[2][3]

As of October 2019, Chico's FAS operated 1,376 women's clothing stores in the US and Canada, and sold merchandise online. Merchandise was also sold through franchise locations in Mexico and U.S. airport locations.[4]

On January 5, 2024, Sycamore Partners completed the acquisition of the company for approximately 1 billion dollars.[5]

History

[edit]

1972–1990

[edit]

Founders Marvin and Helene Gralnick met in 1972 while living in Guadalajara, Mexico. In 1983, they opened a tiny Mexican folk art gift shop in Periwinkle Place on Sanibel Island, Florida.[6] Helene named the shop Folk Art Specialties and then changed the name to Chico's Folk Art Specialties after a friend's pet parrot, Chico.[6] The store sold mostly art, but the sweaters in the store outsold everything else, so Chico's Folk Art Specialties transformed into a clothing boutique.[2][6]

In 1985, Chico's Folk Art Specialties opened a second boutique on Captiva Island, Florida. All early boutiques were infused with Mexican folk art combined with antiques and fixtures manufactured in Marvin's in-house woodshop.[2][6]

In the beginning, Marvin and Helene would not close the store until they reached a certain amount of sales each day. They also could not afford to have bags printed, so the name was handwritten on each bag.[2]

The first franchise store opened in Edina, Minnesota, in 1987. In 1989, the company shortened its name to Chico's FAS (an abbreviation for Folk Art Specialties) and launched the Passport Loyalty Rewards program.[2]

1991–2000

[edit]

By 1992, the company operated 60 boutiques and began designing its own prints and patterns.[2]

Chico's FAS went public in 1993 and began trading on NASDAQ under the title CHS. It premiered its Most Amazing Personal Service (MAPS) customer service initiative in 1998, which still remains as part of the company's focus as of 2018.[7] Between 1998 and 2000, Chico's sales increased an average of 50 percent per year.[2][6] In 2010, Chico's FAS began online sales at Chicos.com. It also began advertising in national magazines, including Martha Stewart Living and Marie Claire.[2]

2001–2010

[edit]

In 2001, the Chico's FAS Founders building opened in Fort Myers, Florida, and Chico's FAS debuted on the New York Stock Exchange.[2][6]

Chico's FAS aired its first commercial in six major markets on The Today Show, Good Morning America, The Oprah Winfrey Show, and Martha Stewart Living.[2]

Average new store sales reached $1.45 million per year in 2003. The next year, Chico's FAS acquired White House Black Market, a women's clothing company that focuses on white, black, and other variants of the two colors. Chico's FAS also launched Soma, an intimate apparel boutique.[2]

In 2006, Chico's FAS added 24 acres to the Fort Myers campus to support growth, and stock reached a high of $49.40.[2]

2011–present

[edit]

In 2011, Chico's FAS acquired Boston Proper, which is a brand available online or by catalog.[8] Two years later, Boston Proper opened its first boutique at Coconut Point in Estero, Florida.[2]

In 2013, Chico's FAS expanded internationally by opening White House Black Market stores in Canada.[9] On May 13, 2014, Chico's FAS announced expansion of the Chico's brand into Canada.[10] Three boutiques have since opened in Canada.[4] Further international expansion has occurred with its namesake Chico's into Mexico in 2014. Through an exclusive franchise with El Puerto de Liverpool ("Liverpool"), Chico's opened a stand-alone boutique at Perisur Mall, Mexico City. Plans for further Chico's expansion into Mexico include more openings of stand-alone boutiques as well as branded shop-in-shops in Liverpool department stores.[10]

In 2016, Chico's FAS sold Boston Proper to Brentwood Associates, an investment firm in Los Angeles.[11]

In 2017, the company launched its first online outlet store, Chico's Off The Rack.[12] Also in 2017, the company Chico's began selling on cruise ships through Princess Cruises and Starboard Cruise Services.[13] In 2019, Chico's announced it was opening airport stores in partnership with airport retailer operator Stellar Partnerships.[14][15] The company also started selling online through Amazon and ShopRunner.[16][17]

Chico's FAS brands

[edit]

Chico's

[edit]

The Chico's brand was founded in 1983 and originally started as a small boutique selling Mexican folk art and apparel on Sanibel Island, Florida.[6] Today, Chico's primarily sells private branded clothing for women.[18] The brand has its own unique sizing that runs from 000 to 4.[19]

White House Black Market

[edit]

The White House Black Market brand began in 1985 in Baltimore, Maryland, and was acquired by Chico's FAS in 2003.[20] It primarily offers exclusively designed, private label women's clothing and accessory items with a "boutique feel".[clarification needed] Accessory items range from shoes to scarves to jewelry and belts.[21] The focus of each seasonal assortment ranges from everyday basics, to wear-to-work, to fashion in monochromatic black, white, and related shades with "seasonal color splashes".[22]

Soma

[edit]
A Soma store

Soma was launched by Chico's FAS in 2004.[2] The brand primarily sells bras and sleepwear. The brand also offers dresses, loungewear, swimwear, shapewear, and lingerie. The associates measure women for the correct bra fit and then suggests the most appropriate sizes and styles. This service is performed accurately by their own fleet of expert bra fitters.[23] The brand was started by women and according to their own corporate landing page is still led by a customer facing fleet consisting of female leadership and staff.

TellTale

[edit]

TellTale is an online underwear brand launched in 2019.[24] It was phased out in 2023.[25]

Management

[edit]

Leadership

[edit]

The current leadership is:

  • President and chief executive officer, Director: Bonnie R. Brooks[26]
  • President, Apparel Group: Molly Langenstein[26]
  • President, Intimates Group: Mary van Praag[26]
  • Vice President / CMO, Intimates Group: Cristina Ceresoli[26]

References

[edit]
  1. ^ a b c d e "Chico's FAS, Inc. 2018 Annual Report". Retrieved 2020-01-21.[permanent dead link‍]
  2. ^ a b c d e f g h i j k l m n "Chico's FAS History".
  3. ^ "CHS Key Statistics - Chico's FAS Inc Financial Ratios".
  4. ^ a b "Chico's FAS Inc Form 8-k" (PDF).
  5. ^ "Sycamore Partners Completes Acquisition of Chico's FAS, Inc". PR Newswire (Press release). Retrieved 2024-01-07.
  6. ^ a b c d e f g "History of Chico's FAS".
  7. ^ "Inclusion As A Growth Strategy Part 4: How To Personalize For Millions Of Customers". Forbes. Retrieved 2020-03-02.
  8. ^ "Chico's FAS Inc. News - New York Times".
  9. ^ "CANADA: Chico's WHBM embarks on international expansion". Archived from the original on 2015-01-23. Retrieved 2015-01-23.
  10. ^ a b "Chico's FAS Announces International Expansion" (Press release).
  11. ^ Valverde, Miriam. "Chico's sells women's clothing retailer Boston Proper". Sun-Sentinel.com. Archived from the original on 2018-11-08. Retrieved 2018-11-07.
  12. ^ "Chico's launches new off-price website". Fashion Network. 2017-12-06. Archived from the original on 2020-03-17.
  13. ^ "Chico's FAS, Inc. Q4 2017 Earnings". SEC. 2018-02-28. Retrieved 2020-03-31.
  14. ^ "Stellar Partners unveils White House Black Market at Baltimore Washington Airport". The Moodie Davitt Report. 2019-05-09. Retrieved 2020-03-12.
  15. ^ "Stellar and MarketPlace upgrade travel retail offer at Philadelphia Airport | Travel Retail Business". Trbusiness. 2019-11-05. Archived from the original on 2019-11-05. Retrieved 2020-03-12.
  16. ^ "Retailer reframes industry, internal challenges | Business Observer". Business Observer. 2019-12-02. Retrieved 2020-04-06.
  17. ^ Olenski, Steve. "Who Would Be Bold Enough To Take On Amazon Prime?". Forbes. Retrieved 2020-04-06.
  18. ^ "Chico's FAS Inc. - Our Brands".
  19. ^ "How to Shop Chico's". 10 November 2011.
  20. ^ "Chico's FAS, Inc. Completes the Acquisition of The White House, Inc".
  21. ^ "White House Black Market - Shop Women's Clothing Online".
  22. ^ "WhiteHouseBlackMarket".
  23. ^ "RIGHT BRA. RIGHT FIT. WE GUARANTEE IT". Archived from the original on 2014-04-21. Retrieved 2021-02-14.
  24. ^ "Chico's Needs Younger Customers And TellTale Intimates Brand Is Its Start". Forbes. Archived from the original on 2019-04-28. Retrieved 2020-02-27.
  25. ^ "Search Results - Soma".
  26. ^ a b c d Layden, Laura. "Chico's FAS appoints new CEO and president, announces other leadership changes". Naples Daily News. Retrieved 2020-02-25.
[edit]
  • Official website
  • Official ecommerce website
    • Historical business data for Chico's FAS, Inc.:
    • SEC filings
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