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CHICO'S FAS INC. Fort Myers, Florida Retailer Not Chained Down By One Concept.(THE NEW AMERICA)
Byline: MARILYN MUCH
In business, as in baseball, even the top players need to cover their bases.
So after scoring steady wins catering to women ages 35 to 55, the team at women's clothing chain Chico's FAS Inc. is about to take on a younger crowd.
Next year, Chico's will start testing a second clothing store concept. It most likely will be aimed at women ages 25 to 45 with annual household income of about $50,000 a year, says Chief Financial Officer Charles Kleman. That's some 33% less than typical Chico's customers.
The shops will bear a different name, but likely will be based in similar locales to those in the 324-unit Chico's chain. They'll also carry younger and hipper-looking merchandise, Kleman says.
The company will open up to eight new shops to start. If the test proves successful, expect a lot more. In fact, Kleman says, if the new chain takes off it has the potential for 500 to 600 stores.
"Because this new concept is aimed at more mainstream customers than Chico's, we can be in an awful lot of malls we can't be in right now," Kleman said. "We still have a ways to go with growing Chico's, but this will help us . . . once Chico's slows its rollout."
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