Chico’s FAS Inc. says it will sell Boston Proper, the women’s apparel catalog company turned e-retailer it acquired in 2011 and developed into a fledgling chain of 20 retail stores closely tied to the brand’s website and online inventory. Chico’s, No. 88 in the Internet Retailer 2015 Top 500 Guide, made the announcement about Boston Proper in its Q2 earnings release and investor call Wednesday. “I love Boston Proper,” said CEO Dave Dyer. “It’s a great direct business, but in the scope of our megabrands without the stores, we think it would get lost in our company.” Dyer was at the helm of Chico’s when it bought Boston Proper for $205 million four years ago and is scheduled to retire next spring. There is no word of a buyer.
RH reported first-quarter sales and earnings that beat expectations and raised its full-year forecast, expressing confidence that its strong performance will continue through the rest of the year and in 2022 and beyond.
The luxury home furnishings company (formerly known as Restoration Hardware) cited a number of factors for its positive outlook, including a strong housing and renovation market (both with pent up demand and a long tail), a record stock market, low interest rates and the reopening of several large parts of the economy. It will also launch the largest new product introduction cycle in its history, beginning this fall.
“Additionally, the un-masking of the general public could lead to a Roaring Twenties type of consumer exuberance,” CEO Gary Friedman wrote in his quarterly letter to shareholders.
more detail at: https://chainstoreage.com/rh-q1-sales-soar-78-will-open-uk-paris-2022