Chico’s clothing store making changes after report shows millions in losses
Chico’s, a company that employs thousands in Southwest Florida just released an earnings report that showed more than $8 million in losses. But it’s not all bad for the clothing chain.
We know that Chico’s seems to be performing better in this quarter than the last, and we could be seeing some changes in the future.
Aside from the Chico’s brand, the company also owns White House Black Market and Soma. Although both those companies have made progress this quarter, Soma’s sales increased in the double digits.
This year the company made significant changes, including getting a new CEO and investing more money in online retail sales and customer experience.
Chico’s is also diversifying where its products are made. Due to the ongoing trade war with China, the company hopes it can offset the costs of tariffs by reducing overseas manufacturing in that East Asia country.
Executives say even though sales are improving, they still have a long way to go.