FORT MYERS, Fla., April 27, 2017 /PRNewswire/ -- Chico's FAS,
Inc. (NYSE: CHS) announced today that its Board has nominated
Deborah L. Kerr for election by its
shareholders at the Company's annual meeting on June 22, 2017. Ms. Kerr will fill the remaining
one year term of Ross E. Roeder, who
is retiring from the Board effective at the annual meeting. She
most recently served as Executive Vice President and Chief Product
and Technology Officer of Sabre Corporation in Dallas, Texas, where she led the global
product and technology organization. She previously held executive
leadership roles in technology at FICO, Hewlett Packard Company and
NASA Jet Propulsion Laboratory. She currently serves on the boards
of directors of DH Corporation and EXLService Holdings, Inc.
"Ms. Kerr is a highly experienced technology and product expert,
with proven skills in innovation and risk management," said
David F. Walker, Chair of the Board
of Chico's FAS. "She will bring a
unique and fresh voice to our Board."
Shelley Broader, President and
CEO of Chico's FAS, said, "I am
looking forward to Ms. Kerr's seasoned counsel as we continue to
enhance our customers' overall experience with the Chico's FAS brands, both in our stores and
online."
After Ms. Kerr's election, more than half of Chico's FAS nine-member Board will be female.
As a Company that serves women, Chicos FAS recognizes the vital
contributions that women make on its Board of Directors, executive
leadership team and throughout its organization.
Mr. Roeder joined the Board in 1997 and served as its Chairman
from 2009 to 2015.
"Ross has been a valued member of the Chico's FAS Board over many years of growth
and change at Chico's, and we
thank him for his thoughtful and dedicated service," said Mr.
Walker.
ABOUT CHICO'S FAS, INC.
The Company, through its brands – Chico's, White House Black Market and
Soma, is a leading omni-channel specialty retailer of women's
private branded, sophisticated, casual-to-dressy clothing,
intimates, and complementary accessories.
As of January 28, 2017, the Company operated 1,501 stores
in the US and Canada and sold
merchandise through franchise locations in Mexico. The Company's merchandise is also
available at www.chicos.com, www.whbm.com and
www.soma.com. For more detailed information on Chico's FAS, Inc., please go to our corporate
website at www.chicosfas.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995
Some statements herein may be "forward-looking statements,"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which reflect our current views with respect to certain
events that could have an effect on our future financial
performance, including but without limitation, statements regarding
our plans and objectives, and the success of our organizational
redesign and other strategic initiatives aimed at increasing sales
volume and profitability through our four established focus areas.
These statements may address items such as expectations for future
sales, gross margin, SG&A (particularly estimated expected
savings), operating margin, inventory levels, and comparable store
sales and cash needs. These statements relate to expectations
concerning matters that are not historical fact and may include the
words or phrases such as "expects," "believes," "anticipates,"
"plans," "estimates," "approximately," "our planning assumptions,"
"future outlook," and similar expressions. Except for historical
information, matters discussed in such oral and written statements
are forward-looking statements. These forward-looking statements
are based largely on information currently available to our
management and on our current expectations, assumptions, plans,
estimates, judgments and projections about our business and our
industry, and are subject to various risks and uncertainties that
could cause actual results to differ materially from historical
results or those currently anticipated. Although we believe our
expectations are based on reasonable estimates and assumptions, we
cannot guarantee their accuracy or our future performance, and
there are a number of known and unknown risks, uncertainties,
contingencies, and other factors (many of which are outside our
control) that could cause actual results to differ materially from
those expressed or implied by such forward-looking statements.
Accordingly, there is no assurance that our expectations will, in
fact, occur or that our estimates or assumptions will be correct,
and we caution investors and all others not to place undue reliance
on such forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to,
changes in the general economic and business environment; changes
in the general or specialty retail or apparel industries; the
availability of quality store sites; the ability to successfully
execute and achieve the expected results of our business
strategies, particular strategic initiatives, and organizational
redesign; the integration of our new management team; changes in
the political environment that create consumer uncertainty;
significant changes to product import and distribution costs (such
as new or increased taxes or tariffs, unexpected consolidation in
the freight carrier industry, and unexpected costs and exposure
associated with our shift to a predominantly FOB shipping structure
rather than a mix of FOB and DDP); significant shifts in consumer
behavior; and those other factors described in Item 1A, "Risk
Factors" and in the "Forward-Looking Statements" disclosure in Item
7. "Management's Discussion and Analysis of Financial Condition and
Results of Operations" of our Form 10-K. There can be no assurance
that the actual future results, performance, or achievements
expressed or implied by such forward-looking statements will occur.
Investors using 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. All written or oral
forward-looking statements that are made or attributable to us are
expressly qualified in their entirety by this cautionary notice.
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.
Investor Contact:
Jennifer Powers
Vice President – Investor Relations
Chico's FAS, Inc.
(239) 346-4199
Media Contact:
Jessica
Wells
Vice President – Public Relations & Corporate
Communications
Chico's FAS, Inc.
(239) 274-4798
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SOURCE Chico's FAS, Inc.