Hundreds of Chico’s, White House Black Market and Soma stores will close over the next three years.
The retailer is looking to renew focus on its omnichannel presence and balance its store portfolio. The closings will be weighted in the second and third years of the process to take advantage of expiring leases, the company said in a release.
The 250 store closings are part of a larger plan to cut costs and increase efficiency across the brands. There are more than 1,400 stores across the three brands.
It also adjusted fourth quarter earnings with lower than expected net sales across the brands. Net sales are now expected to decrease in the low double digits rather than a mid-teens decline.
“Our focus is on implementing those initiatives that drive the greatest levels of growth and profitability of our business,” said Chico’s CEO and president Shelley Broader.
There are Chico’s stores at the Oakwood Centre in Dayton, The Greene Town Center in Beavercreek and Liberty Center in Liberty Twp., among several in the Cincinnati and Columbus regions. The company also has White House Black Market locations at The Greene, Liberty Center, Jefferson Tanger Outlets and several in Cincinnati and Columbus. Soma stores are open at The Greene, Liberty Center and elsewhere in Cincinnati and Columbus.
This news organization has reached out to Chico’s to determine how the closures will effect Ohio stores.
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