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Chico's FAS closes on Boston Proper acquisition
21 Sep '11
2 min read
Chico's FAS Inc announced that it has successfully completed the acquisition of Boston Proper, a Boca Raton, Florida based direct-to-consumer retailer of distinctive women's apparel and accessories. As previously disclosed, Boston Proper will operate as a stand-alone division within Chico's FAS.
Commenting on the completion of the Boston Proper acquisition, Chico's FAS president and CEO David F. Dyer said, "We appreciate the hard work that the Chico's FAS and Boston Proper teams put forth to complete this transaction in near record time. I see it as indicative as to how well Boston Proper fits with the Chico's FAS family of brands."
The Company reiterated that it expects Boston Proper to be accretive to earnings in the first full year following this closure of the transaction before giving any consideration to potential synergies coming from various corporate activities including marketing, catalog circulation and merchandise sourcing.
The Company also announced that it is rescheduling its third quarter sales and earnings press release and conference call to Tuesday, November 22, 2011, before the opening of trading on the New York Stock Exchange that day to allow incorporation of Boston Proper's results.
The Company, through its brands -- Chico's, White House | Black Market, Soma Intimates, and Boston Proper, is a women's specialty retailer of private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items.
Boston Proper is a leading direct-to-consumer retailer of women's high-end apparel and accessories. Boston Proper provides unique, distinctive fashion designed for today's independent, confident and active woman.
Commenting on the completion of the Boston Proper acquisition, Chico's FAS president and CEO David F. Dyer said, "We appreciate the hard work that the Chico's FAS and Boston Proper teams put forth to complete this transaction in near record time. I see it as indicative as to how well Boston Proper fits with the Chico's FAS family of brands."
The Company reiterated that it expects Boston Proper to be accretive to earnings in the first full year following this closure of the transaction before giving any consideration to potential synergies coming from various corporate activities including marketing, catalog circulation and merchandise sourcing.
The Company also announced that it is rescheduling its third quarter sales and earnings press release and conference call to Tuesday, November 22, 2011, before the opening of trading on the New York Stock Exchange that day to allow incorporation of Boston Proper's results.
The Company, through its brands -- Chico's, White House | Black Market, Soma Intimates, and Boston Proper, is a women's specialty retailer of private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items.
Boston Proper is a leading direct-to-consumer retailer of women's high-end apparel and accessories. Boston Proper provides unique, distinctive fashion designed for today's independent, confident and active woman.
Chico's FAS Inc
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