FORT MYERS, Fla., Nov. 28, 2018 /PRNewswire/ --
- Diane Ellis to Step Down
as President of Chico's Brand
- Company Initiates Search for New President of Chico's
Brand
Chico's FAS, Inc. (NYSE: CHS) (the "Company") announced today
the departure of Diane Ellis,
President of the Chico's brand, effective November 30, 2018. The Company has initiated a
search to identify a new Chico's brand President. In the interim,
the Chico's brand will be led by Shelley
Broader, the Company's CEO and President.
"We are committed to improving the performance of our Chico's
brand, and we believe this leadership transition and the
merchandising and marketing changes underway, as separately
announced today, are necessary to reinvigorate broad-based consumer
excitement and growth for the brand," said Ms. Broader. "We
appreciate Diane's dedicated service over the last two years and
wish her the best."
ABOUT CHICO'S FAS, INC.
The Company, through its
brands – Chico's, White House Black Market and Soma is a leading
omni-channel specialty retailer of women's private branded,
sophisticated, casual-to-dressy clothing, intimates and
complementary accessories.
As of November 3, 2018, the Company operated 1,431 stores
in the U.S. and Canada and sold
merchandise through 83 international franchise locations in
Mexico. The Company's merchandise
is also available at www.chicos.com, www.chicosofftherack.com,
www.whbm.com and www.soma.com as well as through third
party channels. For more detailed information on the Company,
please go to our corporate website at www.chicosfas.com. The
information on our corporate website is not, and shall not be
deemed to be, a part of this press release or incorporated into our
federal securities law filings.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995
This press release contains
"forward-looking statements," within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, which reflect our
current views with respect to certain events that could have an
effect on our future financial performance. These statements,
including without limitation statements made in Ms. Broader's
quotes relate to expectations concerning matters that are not
historical fact and may include the words or phrases such as
"will," "should," "expects," "believes," and similar expressions.
Except for historical information, matters discussed in such
statements are forward-looking statements. These forward-looking
statements are based largely on information currently available to
our management and on our current expectations, assumptions, plans,
estimates, judgments and projections about our business and our
industry, and are subject to various risks and uncertainties that
could cause actual results to differ materially from historical
results or those currently anticipated. Although we believe our
expectations are based on reasonable estimates and assumptions, we
cannot guarantee their accuracy or our future performance, and
there are a number of known and unknown risks, uncertainties,
contingencies, and other factors (many of which are outside our
control) that could cause actual results to differ materially from
those expressed or implied by such forward-looking statements.
Accordingly, there is no assurance that our expectations will, in
fact, occur or that our estimates or assumptions will be correct,
and we caution investors and all others not to place undue reliance
on such forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to,
changes in the general economic and business environment, including
the expected impact of U.S. tax reform; changes in the general or
specialty retail or apparel industries; the availability of quality
store sites; the ability to successfully execute and achieve the
expected results of our business strategies and particular
strategic initiatives, sales initiatives and multi-channel
strategies; customer traffic; our ability to appropriately manage
our inventory and allocation processes; our ability to leverage
inventory management and targeted promotions; the successful
leadership transition for the Chico's brand and successful
integration of the new members of our senior management team;
changes in the political environment that create consumer
uncertainty; significant changes to product import and distribution
costs (such as unexpected consolidation in the freight carrier
industry, and the ability to remain competitive with customer
shipping terms and costs pertaining to product deliveries and
returns); new or increased taxes or tariffs (particularly with
respect to China) that could
impact, among other things, our sourcing from foreign suppliers;
significant shifts in consumer behavior; and those other factors
described in Item 1A, "Risk Factors" and in the "Forward-Looking
Statements" disclosure in Item 7. "Management's Discussion and
Analysis of Financial Condition and Results of Operations" of our
latest annual report on Form 10-K and in Part II, Item 1A, "Risk
Factors" and the "Forward-Looking Statements" disclosure in Part I,
Item 2. "Management's Discussion and Analysis of Financial
Condition and Results of Operation" of our quarterly reports on
Form 10-Q and in other reports we file with or furnish to the
Securities and Exchange Commission. There can be no assurance that
the actual future results, performance, or achievements expressed
or implied by such forward-looking statements will occur. All
forward-looking statements that are made or attributable to us are
expressly qualified in their entirety by this cautionary notice.
The Company does not undertake to publicly update or revise its
forward-looking statements even if experience or future changes
make it clear that projected results expressed or implied in such
statements will not be realized.
Executive Contact:
Julie Lorigan
Vice President – Investor Relations,
Public Relations and Corporate Communications
Chico's FAS, Inc.
(239) 346-4199
Chico's FAS, Inc. • 11215 Metro Parkway •
Fort Myers, Florida 33966 • (239)
277-6200
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SOURCE Chico's FAS, Inc.