Moreover, although a large portion of their gross margin shortfall is related to the unexpected level of promotions in the Chico's brand, a significant portion of this gross margin shortfall can also be attributed to investments they are making with respect to our other brands.
The White House | Black Market brand is exceeding their expectations as a percentage of our overall sales and is making great strides in improving its gross margins every quarter, including this quarter. Soma, which continues to show great potential as a future growth vehicle, continues to reduce our gross margins by about 40 basis points, although we do not expect to continue to see this level of margin pressure over the long term. They strongly believe these investments are in the long term best interests of our shareholders and we continue to pursue our multiple brand growth strategy for the future.”
Florida based Private label seller Chico's FAS Inc is a specialty retailer of sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items. The Company operates 710 women's specialty stores, including stores in 47 states, the District of Columbia, the US Virgin Islands and Puerto Rico operating under the Chico's, White House | Black Market and Soma by Chico's names.
The Company owns 474 Chico's front-line stores, 27 Chico's outlet stores, 181 White House | Black Market front-line stores, 5 White House | Black Market outlet stores and 10 Soma by Chico's stores; franchisees own and operate 13 Chico's stores.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
