FORT MYERS, Fla., Jan. 30 /PRNewswire-FirstCall/ -- Chico's FAS, Inc.
(NYSE: CHS) announced today that it has acquired most of the assets of the
Fitigues brand stores headquartered in Scottsdale, Arizona. Fitigues sells
luxurious comfortable clothing through 14 free-standing retail store locations
throughout the country, as well as through its customer catalog, though
Chico's will only be acquiring 12 of the 14 locations. Fitigues will operate
as a new branded division of Chico's.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030428/CHICOLOGO )
Scott A. Edmonds, Chico's President and Chief Executive Officer, said, "We
have known Fitigues' founders, Steve and Andi Rosenstein, for many years now
and believe that their merchandise philosophy is very complimentary to that of
Chico's. We believe this brand appeals to an affluent customer, similar in
age and income to our White House | Black Market customer, but in a more
luxurious casual way. By bringing Fitigues under the Chico's umbrella, we can
provide the necessary capital, back office operations assistance, and leverage
needed to successfully expand this brand across America over the next several
years. We look forward to Steve, Andi, and Fitigues becoming part of the
Chico's family."
Steve Rosenstein, Co-founder and President of Fitigues, stated, "The
parallels and similarities of the early years of Fitigues and Chico's are
quite amazing. Chico's financial strength, experienced teams, and intuition
in the marketplace will help achieve the goal of providing the Fitigues
customer with unique fashions and excellent customer service all within a
comfortable boutique atmosphere."
The Company is a specialty retailer of private label, sophisticated,
casual-to-dressy clothing, intimates, complementary accessories, and other
non-clothing gift items. The Company operates 778 women's specialty stores,
including stores in 47 states, the District of Columbia, the U.S. Virgin
Islands and Puerto Rico operating under the Chico's, White House | Black
Market and Soma by Chico's names. The Company owns 501 Chico's front-line
stores, 31 Chico's outlet stores, 197 White House | Black Market front-line
stores, 8 White House | Black Market outlet stores, 15 Soma by Chico's stores,
11 Fitigues front-line stores and 1 Fitigues Outlet store; and franchisees own
and operate 14 Chico's stores.
Certain statements contained herein, including without limitation,
statements addressing the beliefs, plans, objectives, estimates or
expectations of the Company or future results or events constitute "forward-
looking statements" within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended. Such forward-looking statements involve known
or unknown risks, including, but not limited to, general economic and business
conditions, and conditions in the specialty retail industry. There can be no
assurance that the actual future results, performance, or achievements
expressed or implied by such forward-looking statements will occur. Users of
forward-looking statements are encouraged to review the Company's latest
annual report on Form 10-K, its filings on Form 10-Q, management's discussion
and analysis in the Company's latest annual report to stockholders, the
Company's filings on Form 8-K, and other federal securities law filings for a
description of other important factors that may affect the Company's business,
results of operations and financial condition. The Company does not undertake
to publicly update or revise its forward-looking statements even if experience
or future changes make it clear that projected results expressed or implied in
such statements will not be realized.
For more detailed information, please call (877) 424-4267 to listen to the
Company's monthly sales information and investor relations line
A copy of a slide show addressing the Company's recent financial results
and current plans for expansion is available on the Company's website at
http://www.chicos.com in the investor relations section
Additional investor information on Chico's FAS, Inc. is available free of
charge on the Company's website at http://www.chicos.com in the
investor relations section
Executive Contacts:
Charles J. Kleman F. Michael Smith
Chief Financial Officer Vice President
Chico's FAS, Inc. Investor and Community Relations
(239) 274-4105 Chico's FAS, Inc.
(239) 274-4797
SOURCE Chico's FAS, Inc.
-0- 01/30/2006
/CONTACT: Charles J. Kleman, Chief Financial Officer, +1-239-274-4105, or
F. Michael Smith, Vice President, Investor and Community Relations,
+1-239-274-4797, both of Chico's FAS, Inc./
/Photo: http://www.newscom.com/cgi-bin/prnh/20030428/CHICOLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com /
/Web site: http://www.chicos.com /
(CHS)
CO: Chico's FAS, Inc.; Fitigues
ST: Florida
IN: REA FAS
SU: TNM
AC-DS
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6807 01/30/2006 12:00 EST http://www.prnewswire.com