This record-setting operating margin is largely a result of their outstanding merchandise offerings and from their merchants' commitment to improving average retail price points and initial markups, each of which also contributed to their third quarter double digit same store sales.
As they separately reported, the third quarter's double digit same store sales trends have continued into the first month of their fourth quarter with an 11.8 percent same store sales increase for November."
Edmonds continued, "Given the momentum of the White House | Black Market brand and upcoming real estate opportunities, they feel it is prudent to accelerate this brand's store opening program for fiscal 2006 by increasing their original planned growth by an additional 20 new stores.
The partnership between the White House | Black Market merchandising teams and the Chico's operations teams has worked better and quicker than expected and they are delighted to be able to leverage these results by adding these additional stores to their planned openings.
This will bring the Company's fiscal 2006 new store plan to approximately 150 net new stores, with the breakdown by brand being approximately 70 White House | Black Market stores, 60 Chico's stores, and 20 Soma by Chico's stores."
Specialty retailer of private label, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items Chico's FAS Inc operates 757 women's specialty stores, including stores in 47 states, the District of Columbia, the US Virgin Islands and Puerto Rico operating under the Chico's, White House | Black Market and Soma by Chico's names.
The Company owns 498 Chico's front-line stores, 29 Chico's outlet stores, 196 White House | Black Market front-line stores, 6 White House | Black Market outlet stores and 15 Soma by Chico's stores; franchisees own and operate 13 Chico's stores.
marketing@alchempro.com
