FORT
MYERS, Fla., June 23,
2023 /PRNewswire/ -- As part of an ongoing commitment
to return value to its shareholders, Chico's FAS, Inc. (NYSE: CHS)
("Chico's FAS" or "Company") announced that its Board of Directors
("Board") authorized a new share repurchase program ("Program") for
up to $100 million of the Company's
common stock and canceled the remainder of its $300 million share repurchase program, which was
announced in November 2015. The
Company completed all but $35.4
million of its previous share repurchase authorization.
The Program authorizes the purchase of the Company's common
stock in open market transactions made in accordance with the
provisions of Rule 10b-18 promulgated
under the Securities Exchange Act of 1934, as amended ("Exchange
Act"), privately negotiated transactions, trading plans adopted in
accordance with Rule 10b5-1 under the Exchange Act, block
transactions, or otherwise. The Program permits the Company to
repurchase shares of the Company's common stock at any time or from
time-to-time at management's discretion.
The actual means, timing, number, and purchase price of any
shares purchased under the Program will depend on a variety of
factors, including, but not limited to, the market price of the
Company's common stock, general business and market conditions,
other investment opportunities, and applicable legal and regulatory
requirements. The Program does not obligate the Company to purchase
any shares. The Program has no expiration date and may be
suspended, modified, or terminated by the Board at any time.
ABOUT CHICO'S FAS, INC.
Chico's FAS is a Florida-based
fashion company founded in 1983 on Sanibel Island, FL. The Company
reinvented the fashion retail experience by creating fashion
communities anchored by service, which put the customer at the
center of everything we do. As one of the leading fashion retailers
in North America, Chico's FAS is a
company of three unique brands – Chico's®, White House
Black Market®, and Soma® – each thriving in
their own white space, founded by women, led by women, providing
solutions that millions of women say give them confidence and
joy.
Our Company has a passion for fashion, and each day, we provide
clothing, shoes, and accessories, intimate apparel and expert
styling in our brick-and-mortar boutiques, digital online
boutiques, and through StyleConnect®, the Company's
customized, branded, digital styling tool that enables customers to
conveniently shop wherever, whenever, and however they prefer.
As of April 29, 2023, the Company operated 1,262 stores in
the U.S. and sold merchandise through 58 international franchise
locations in Mexico and through
two domestic franchise locations in airports. The Company's
merchandise is also available at www.chicos.com,
www.chicosofftherack.com, www.whbm.com, and www.soma.com.
To learn more about Chico's FAS, please visit our corporate
website at www.chicosfas.com. The information on our corporate
website is not, and shall not be deemed to be, a part of this press
release or incorporated into our federal securities law
filings.
Investor Relations Contact:
Julie MacMedan
Chico's FAS, Inc.
(239) 346-4384
julie.macmedan@chicos.com
Chico's FAS, Inc. • 11215 Metro Parkway •
Fort Myers, Florida 33966 • (239)
277-6200
View original content to download
multimedia:https://www.prnewswire.com/news-releases/chicos-fas-inc-announces-new-100-million-share-repurchase-program-301861197.html
SOURCE Chico's FAS, Inc.