According to this AL.com report Chico’s will be closing 250 stores.
The parent company of Chico’s, a women’s clothing chain with stores across the U.S., said it will close 250 locations over the next three years.
Chico’s FAS operates Chico’s, White House Black Market and Soma. It currently has about 1,400 stores in the U.S. and Canada.
The closures, the company said in a press release, will provide the “speed needed for long-term success in a competitive retail environment” and more efforts towards online sales.
“Our focus is on implementing those initiatives that drive the greatest levels of growth and profitability of our business,” Shelley Broader, the Company’s CEO and President, said. “This includes continued improvement in each of our differentiated brands, increased flexibility and efficiency across our organization, and fully leveraging the capabilities of our robust omnichannel platform to meet the ever-evolving needs of our customers and to enhance shareholder value.”
The company has not identified the locations that will be closed. Chico’s had 43 net store closures in 2017, Retaildive reported.