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Chico's Goes International - Analyst Blog
Chico's FAS Inc.
) is set to make its first international appearance with the
opening of its White House Black Market (WH|BM) boutique store at
Yorkdale Shopping Centre in Toronto, Canada. The store is slated
to open doors for its customers in Canada on Oct 24.
Alongside its first international venture, the company announced the opening of its second Canadian store at Square One in Mississauga, followed by a third store at Upper Canada Mall in Newmarket. These stores are scheduled to open on Oct 29 and Nov 12, respectively.
The entrance of the Yorkdale Shopping Centre store is designed using a blend of various design elements and materials consisting of white Carrara marble, polished chrome, black lacquer panels, striped fabric sunshade, and a huge cut-crystal chandelier.
The boutiques have a rich design in a black-and-white palette, a currated finish including wood and marble floors, crystal chandeliers and sconces, mirrored accents, satin curtains and velvet upholstery. The furniture will be in tune with the luxurious décor.
The company's venture into Canada is guided by a study of its customer profiles that indicate a large customer following in Canada for the Chico's brand.
Chico's FAS' White House Black Market brand sells stylish and chic garments and accessories for women, including everyday basics, wear-to-work, graceful fashion, mostly in black and white and related shades with seasonal color splashes. Apart from this, the brand offers some signature collections including the Instantly Slimming, Perfect Form and WORKKIT, providing day-to-day wardrobe solutions for women.
White House Black Market started operations in 1985 and was acquired by Chico's in 2003. The company currently operates 416 White House Black Market boutiques and 52 outlets.
Chico's is a women's specialty retailer of private branded, classy, casual-to-dressy outfits, intimates, complementary accessories, and other non-clothing gift items. Looking into 2013, Chico's intends to go ahead with other strategic initiatives that will help boost its future growth. These include omni-channel capabilities, expansion in Canada, and the opening of 135 to 140 new stores.
Chico's currently has a Zacks Rank #5 (Strong Sell). Stocks performing well among apparel/shoe retailers include Citi Trends Inc. ( CTRN ), DSW Inc. ( DSW ) and Christopher & Banks Corporation ( CBK ). All of these carry a Zacks Rank #1 (Strong Buy).
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