Chico's (clothing retailer)
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| Public | |
| Traded as | : CHS S&P 400 Component |
| Industry | Retail |
| Founded | 1983 |
| Headquarters | Fort Myers, FL, U.S. |
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Number of locations
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Chico's: 624 boutique, 118 outlet White House | Black Market: 451 boutique, 67 outlet stores Soma: 263 boutique, 17 outlet stores |
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Area served
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United States Puerto Rico U.S. Virgin Islands Canada |
| Products | Apparel and accessories |
| Revenue | 2013 net sales of $2.6 billion. |
| 2013 operating income of $142 million | |
| $65.9 million [2013] | |
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Number of employees
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23,700 [2013] |
| Website |
www www www www |
Chico's is a retail women's clothing chain founded in 1983 by a three-person operation on Sanibel Island, Florida. Chico’s FAS, Inc. is an American women’s clothing and accessories retailer. The company was founded by Marvin and Helene Gralnick and is headquartered in Ft. Myers, Florida. Chico’s FAS operates three brands: its namesake Chico’s, White House | Black Market and Soma. The Company, through its 3 brands, is an omni-channel specialty retailer of women’s private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories and other non-clothing items. As of November 1, 2014, Chico’s FAS operated 1,557 women's clothing stores in the US and Canada and sold merchandise through franchise locations in Mexico.
Founders Marvin and Helene Gralnick, met in 1972 while living in Guadalajara, Mexico. In 1983, they opened a tiny Mexican folk art gift shop in Periwinkle Place on Sanibel Island, Florida. Helene named the shop Folk Art Specialties and then changed the name to Chico’s Folk Art Specialties after a friend’s pet parrot, Chico. The store sold mostly art, but the sweaters in the store outsold everything else, so Chico’s Folk Art Specialties transformed into a clothing boutique.
In 1985, Chico’s Folk Art Specialties opened a second boutique on Captiva Island, Florida. All early boutiques were infused with Mexican folk art combined with antiques and fixtures manufactured in Marvin’s in-house woodshop.
In the beginning, Marvin and Helene would not close the store until they reached a certain amount of sales each day. They also could not afford to have bags printed, so the name was handwritten on each bag.
The first franchise store opened in Edina, Minnesota in 1987. In 1989, the company shortened its name to Chico’s FAS (an abbreviation for Folk Art Specialties) and launched the Passport Loyalty Rewards program.
In 1991, Chico’s FAS expanded into cities ranging from Santa Fe, New Mexico to Newport, Rhode Island. By 1992, the company operated 60 boutiques and began designing its own prints and patterns.
Chico’s FAS went public in 1993 and began trading on NASDAQ under the title CHCS. It premiered its Most Amazing Personal Service (MAPS) customer service initiative in 1998. Between 1998 and 2000, Chico’s sales increased an average of 50 percent per year.
In 1999, Chico’s FAS began online sales at Chicos.com in 1999. It also began advertising in national magazines, including Martha Stewart Living and Marie Claire.
In 2001, the Chico’s FAS Founders building opened in Fort Myers, Florida, and Chico’s FAS debuted on the New York Stock Exchange.
Chico’s FAS aired its first commercial in six major markets on the Today Show, Good Morning America, and The Oprah Winfrey Show, and on Martha Stewart Living.
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Wikipedia