For fiscal 2018, net sales were $2.1 billion compared to $2.3 billion in fiscal 2017. Shelley "We achieved sequential improvement in comparable sales in all three brands in the fourth quarter, and with work continuing across the company, we believe we are better positioned heading into the new fiscal year. We are focused on driving sales, efficiencies and agility throughout the organisation as we leverage our robust omni-channel capabilities. At our namesake Chico's brand, improvement actions are taking hold, and we expect that Karen, our new Chico's brand president, will further advance these efforts. I am confident that all the actions underway will enable the company to compete, succeed and drive value creation," Broader said.
"It is an honour to be named president of the Chico's brand. I am enthusiastic about the opportunities that lie ahead for Chico's and look forward to working with its talented team to improve the brand, deepen our customer relationships and deliver long-term growth," McKibbin said.
"McKibbin has extensive experience in the retail industry with our customer and a strong record leading merchandising, operating and store initiatives that drive profitable growth. She shares our commitment to beautiful product, superior customer experiences and knows first-hand how important service is to building brand loyalty. I am confident that her leadership and decades of experience will help accelerate the progress we are making to improve performance at the Chico's brand," added Broader.
Prior to serving as President of Nordstrom Canada, McKibbin has served in a wide variety of roles from merchant to store management to regional management. In 2000, she was named vice president, leading the Los Angeles region. She later led three additional regions as vice president, including the Northeast region, where she pioneered Nordstrom's entry into the Boston market; the South region and Northern California and Hawaii.
Meanwhile, in its financial report for fiscal 2018, Chico’s said it continues to execute the Chico's brand performance improvement plan, optimise its retail fleet and implement initiatives to improve its operating effectiveness. For the fiscal 2019 first quarter, the company anticipates a mid to high-single-digit decline in total net sales and consolidated comparable sales compared to the fiscal 2018 first quarter, reflecting softer sales throughout the month of February. (RR)
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