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4-Traders Homepage  >  Equities  >  Nyse  >  Chico's FAS, Inc.    CHS

Delayed Quote. Delayed  - 04/29 10:02:01 pm
12.61 USD   -2.25%
04/25 CHICO'S FAS, IN : Realigns Marketing and Digital Commerce to Better ..
04/08 CHICO FAS : Declares Cash Dividend of $0.08 Per Share
03/10 CHICO'S FAS, IN : ex-dividend day
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CHICOS FAS INC : Change in Directors or Principal Officers, Other Events (form 8-K)

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04/25/2016 | 10:35pm CEST

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 25, 2016, Chico's FAS, Inc. (the "Company") announced a strategic realignment to decentralize its marketing organization, which is expected to result in annualized cost savings of approximately $14 million. In connection with these efforts, Michelle Berardelli, the Company's Executive Vice President - President, Digital Commerce and Chief Marketing Officer, will be leaving the Company after a transitional period, which is expected to end on or about July 2, 2016. Ms. Berardelli's primary Marketing and Digital Commerce responsibilities will be assumed by the Brand Presidents. Ms. Berardelli is eligible for severance in accordance with the terms of the Executive Severance Plan. A copy of the release issued on April 25, 2016 is attached to this Report as Exhibit 99.1 and is incorporated by reference herein.

Item 8.01 Other Events.


On April 25, 2016, the Company disclosed a reconciliation of changes in the
presentation of the Company's Consolidated Statements of Income. The Company has
historically presented store occupancy expenses, shipping expenses and shipping
revenue within selling, general and administrative expenses. Beginning in the
first quarter 2016, the Company will present store occupancy expenses and
shipping expenses within cost of goods sold and will present shipping revenue
within net sales. A detailed disclosure of the changes will be included in our
first quarter 2016 Form 10-Q. Exhibit 99.2 and Exhibit 99.3, as described in
Item 9.01 below, are attached to this Report and incorporated by reference
herein.
Item 9.01. Financial Statements and Exhibits
(d)Exhibits:
Exhibit 99.1          Chico's FAS, Inc. Press Release dated April 25, 2016
Exhibit 99.2          Reconciliation of Reported to Adjusted Selected Consolidated
                      Financial Data
Exhibit 99.3          Reconciliation of Reported to Adjusted Selected Non-GAAP
                      Consolidated Financial Data




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© Edgar Online, source Glimpses

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