Chico’s shuts North America stores for two weeks
Mar. 17, 2020
Chico’s FAS an omnichannel specialty retailer for women that operates Chico’s, White House Black Market, Soma and TellTale announced the temporary immediate closure of all retail stores across North America for the next two weeks.
“Our customers and associates are at the center of our purpose and every decision we make,” said Bonnie Brooks, CEO and President, Chico’s FAS in a statement, adding, “During our temporary store closure, our full-time and part-time associates will receive their full pay during this two-week closure period.”
The company is withdrawing its guidance for the first quarter and full year respectively. The company expected a low single-digit increase in total net sales and consolidated comparable sales, reflecting continued progress and momentum in the business and gross margin as a percent of net sales to increase approximately 20 to 40 basis points for the first quarter. For the full year, Chico’s anticipated a low single-digit increase in total net sales and consolidated comparable sales and gross margin as a percent of net sales to increase approximately 50 to 100 basis points.
Picture:Chico's press room