Chico’s 1Q Profit Falls on Economic Conditions
Fort Myers, Fla. Chico’s FAS Inc. said Wednesday its first-quarter profit dropped 73% as sales of its core apparel brand dropped and expenses increased.
The women’s apparel retailer reported earnings fell to $12.7 million compared with $47.2 million a year earlier.
Quarterly results included $2.2 million in charges related to the closing of seven Soma stores. Selling, general and administrative expenses grew to $212.1 million from $205.1 million.
Revenue for the period ended May 3 slipped 10% to $409.6 million from $453.1 million. Same-store sales slid 17.5% during the quarter.
Krupa in talks to represent Giantto
LAS VEGAS The Giantto Group, a Los Angeles-based jewelry company specializing in original custom jewelry, announced that it is in talks with supermodel Joanna Krupa to make her the new official spokesmodel for the group.
Krupa is set to make an appearance on June 1 at the JCK exhibition. A popular model, Krupa has appeared in GQ and FHM.
Big Lots names store ops vp
COLUMBUS, Ohio Big Lots has named Christopher Chapin as senior vp of store operations, effective immediately. Chapin will report to ceo Steve Fishman.
Chapin will oversee store standards, field operations, customer service, process development, and program implementation for the company’s 1,300+ closeout retail stores in 47 states.
Chapin most recently served as president of FacilitySource, a worldwide retail facility maintenance and management business headquartered in Secaucus, N.J. Previously, Chapin was with Limited Brands as vp of store operations and YUM Brands as national director of operations.