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Chico's appoints David Dyer as President, CEO
09 Jan '09
5 min read
"I have great respect for Chico's' market position and leadership, and the work that Scott has done over the course of his 15 years at the Company to build it into a first rate retailer," said Mr. Dyer. "I look forward to leading Chico's through the challenges of the current environment to a bright and successful future. With three strong and well-defined brands, a clean balance sheet and an outstanding management team, I have every confidence we are positioned for long-term success."
Mr. Roeder, 70, has been a member of the Chico's Board of Directors since 1997 and was named Lead Director in September 2007. He was Chairman of Smart and Final, Inc. from 1999 until 2007, and served as a director of SFI Corporation, the parent corporation of Smart and Final, from 1984 to 2007. From 1999 until 2004, Mr. Roeder also held the position of Chief Executive Officer of Smart and Final, Inc.
From 1986 to 1998, Mr. Roeder served as a director of Morgan-Kaufman Publishers, Inc., a publisher of computer science text and reference books, and from 1993 to 1998, served as its Chairman of the Board. From 1986 until February 1993, Mr. Roeder was President and Chief Executive Officer of Federal Construction Company.
Chico's also reported that its net sales for the five-week period ended January 3, 2009, decreased 10.0% to $163.4 million from $181.6 million reported for the five-week period ended January 5, 2008. Comparable store sales decreased 12.4% for the five-week period ended January 3, 2009 compared to the same five-week period last year ended January 5, 2008.
For the forty-eight weeks ended January 3, 2009, total net sales decreased 8.0% to $1.491 billion from $1.620 billion reported for the forty-eight week period ended January 5, 2008. Comparable store sales decreased 15.3% for the forty-eight week period ended January 3, 2009 compared to the forty-eight week period last year ended January 5, 2008.
The Company said that its expected decrease in comparable store sales for December, combined with its efforts to be promotionally competitive and its intent to end the quarter with lowered targeted store inventory levels, is expected to result in lower gross margins than originally anticipated for the fourth quarter.
The Company is a specialty retailer of private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items.
Mr. Roeder, 70, has been a member of the Chico's Board of Directors since 1997 and was named Lead Director in September 2007. He was Chairman of Smart and Final, Inc. from 1999 until 2007, and served as a director of SFI Corporation, the parent corporation of Smart and Final, from 1984 to 2007. From 1999 until 2004, Mr. Roeder also held the position of Chief Executive Officer of Smart and Final, Inc.
From 1986 to 1998, Mr. Roeder served as a director of Morgan-Kaufman Publishers, Inc., a publisher of computer science text and reference books, and from 1993 to 1998, served as its Chairman of the Board. From 1986 until February 1993, Mr. Roeder was President and Chief Executive Officer of Federal Construction Company.
Chico's also reported that its net sales for the five-week period ended January 3, 2009, decreased 10.0% to $163.4 million from $181.6 million reported for the five-week period ended January 5, 2008. Comparable store sales decreased 12.4% for the five-week period ended January 3, 2009 compared to the same five-week period last year ended January 5, 2008.
For the forty-eight weeks ended January 3, 2009, total net sales decreased 8.0% to $1.491 billion from $1.620 billion reported for the forty-eight week period ended January 5, 2008. Comparable store sales decreased 15.3% for the forty-eight week period ended January 3, 2009 compared to the forty-eight week period last year ended January 5, 2008.
The Company said that its expected decrease in comparable store sales for December, combined with its efforts to be promotionally competitive and its intent to end the quarter with lowered targeted store inventory levels, is expected to result in lower gross margins than originally anticipated for the fourth quarter.
The Company is a specialty retailer of private branded, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items.
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