Chico's digital channels record double digit growth

Chico’s FAS, an omnichannel specialty retailer of women's private brands, has reported strong digital sales over the past six weeks. The company recorded double digit growth on its digital channels, including increased traffic and sales on websites and increased engagement on social media channels. The company operates five unique websites for its' brands. 

 

Chico's FAS, an omnichannel specialty retailer of women's private brands, has reported strong digital sales over the past six weeks. The company recorded double digit growth on its digital channels, including increased traffic and sales on websites and increased engagement on social media channels. The company operates five unique websites for its' brands. #

Chico’s believes its digital performance shows that the company has been well-served by investments in technology. In mid-March, the company equipped its store management with handheld devices that were installed with Style Connect SM, Chico's proprietary digital styling software that enables it to communicate directly with the majority of customers to drive the frontline business to digital fulfilment. Company attributes this action to the double digit increases in online sales since the temporary closure of boutiques.

 

Chico's FAS, an omnichannel specialty retailer of women's private brands, has reported strong digital sales over the past six weeks. The company recorded double digit growth on its digital channels, including increased traffic and sales on websites and increased engagement on social media channels. The company operates five unique websites for its' brands. #

As the magnitude of the impact of Covid-19 on the women's apparel industry became clearer, the company immediately pivoted to a new business plan for 2020 and beyond, assessing and overhauling every function of its business, as well as quickly adjusting operations aligned to digital marketing and distribution. Company’s actions have been designed to reduce operating expenses by approximately 30 per cent and Chico’s is committed to hold this cost structure for the long term.

 

Chico's FAS, an omnichannel specialty retailer of women's private brands, has reported strong digital sales over the past six weeks. The company recorded double digit growth on its digital channels, including increased traffic and sales on websites and increased engagement on social media channels. The company operates five unique websites for its' brands. #

“We entered fiscal 2020 on strong financial footing and continue to maintain a heathy liquidity position. As of April 27, 2020, we had approximately $103 million of cash and cash equivalents on hand,” David Oliver, interim chief financial officer and controller, said in a press release.