Chico's will close at least 250 stores to better compete in the age of Amazon
Chico's will close at least 250 stores to better compete in the age of Amazon
Chico's has announced a wave of store closures as it tries to better compete amid a retail landscape roiled by the rise of online shopping and fast-changing fashion.
The women's clothing seller says it will shutter at least 250 locations over the next three years, across its namesake chain as well as its two other retail brands, White House Black Market and Soma.
"Our focus is on implementing those initiatives that drive the greatest levels of growth and profitability of our business,'' Shelley Broader, Chico's CEO and president, said in a statement Friday.
The company says that it has already made strides to blend its digital and brick-and-mortar experiences, enabling shoppers to buy online and pick up at an actual store, and creating partnerships with Amazon and QVC.
The company said that it did not have a list of the affected stores at this time, but most of the closings are slated to occur after this year.
Chico's says that it has also begun "a comprehensive review of its operations'' that will include a review of expenses.
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