Not long after delivering disappointing news about Chico’s FAS fourth quarter and full year 2018 results, it announced the launch of a new intimates product line, TellTale. It will be sold in a new way for Chico’s—online only, not in stores—and will be aimed at a new customer: younger women.
The 36-year old Chico’s needs new energy as its once highly successful fashion formula aimed at Baby Boomer women is running out of steam.
In fiscal 2018 net revenues across all brands were down 6.6%, following a 7.8% decline year-over-year in 2017. Both Chico’s, which accounts for 52% of corporate sales, and White House Black Market, 33% of sales, have lost ground since 2016.