Chico's to Close 250 Stores

Chico’s FAS has announced a "retail fleet optimization plan" that includes plans to close 250 stores over the next three years.

Chico’s FAS owns Chico's, White House Black Market and Soma.

In addition, the company will undergo a review of its operation and launch an omnichannel plan to increase efficiency and flexibility throughout the company. Chico’s currently operates roughly 1,400 stores in the U.S. and Canada.

According to a company statement, comps are doing better than the company initially forecasted. Chico’s comps are on pace with expectations for the fourth quarter. White House Black Market comps are up, and Soma sales are exceeding expectations.

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