Chico’s FAS Inc., the struggling specialty retailer, has reorganized its administration by naming Bonnie Brooks president and chief government officer and Molly Langenstein president of the attire group.
Karen McKibbin, Chico’s model president, resigned after a brief stint. She joined Chico’s in March after serving as president of Nordstrom Rack. In its announcement Thursday on the manager adjustments, the corporate mentioned McKibbin resigned to pursue different alternatives.
Final month, the board rejected an unsolicited proposal from Sycamore Companions to amass all the excellent shares for $Three per share in money. The inventory closed at $3.23 Thursday, down 5.6 % or 19 cents.
Final March, the corporate disclosed that a minimum of 250 shops within the U.S. would shut over the following three years to give attention to omnichannel operations, scale back prices, enhance profitability and return on invested capital.
Final yr, internet earnings slid to $35.6 million, or 28 cents diluted earnings per share, in contrast with $101 million, or 79 cents per share, the yr earlier than. The $2.1 billion specialty retailer noticed a 4.9 % comparable gross sales decline final yr, and final quarter, there was a comparable gross sales decline of seven %.
Brooks, a member of the board, had been serving as interim chief government officer since
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