FORT MYERS, Fla., Nov. 24, 2015 /PRNewswire/ -- Chico's FAS,
Inc. (NYSE: CHS) today announced that its Board of Directors has
approved a new $300 million share repurchase
authorization for the Company's common stock and canceled the
remainder of its December 2013 share repurchase program,
reinforcing the Company's commitment to returning excess cash to
shareholders. During fiscal 2015, the Company repurchased 14.6
million shares under accelerated stock repurchase agreements,
completing all but $40 million of its
existing share repurchase authorization.
The Company also announced that its Board of Directors declared
a quarterly cash dividend of $0.0775
per share of its common stock, a 3.3% increase over the dividend
rate from December 2014. The dividend
is payable on December 21, 2015 to
Chico's FAS shareholders of record at the close of business on
December 7, 2015.
ABOUT CHICO'S FAS, INC.
The Company, through its brands – Chico's, White
House | Black Market, Soma, and Boston Proper, is a leading
omni-channel specialty retailer of women's private branded,
sophisticated, casual-to-dressy clothing, intimates, complementary
accessories, and other non-clothing items.
As of October, 2015, the Company operated 1,546 stores in
the US and Canada and sold
merchandise through franchise locations in Mexico. The Company's merchandise is also
available at www.chicos.com, www.whbm.com, www.soma.com,
and www.bostonproper.com. For more detailed information on
Chico's FAS, Inc., please go to our corporate website
at www.chicosfas.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995 Certain statements contained herein,
including without limitation, statements addressing the beliefs,
plans, objectives, estimates or expectations of the Company or
future results or events constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, as amended. Such forward-looking statements involve
known or unknown risks, including, but not limited to, general
economic and business conditions, and conditions in the specialty
retail industry. There can be no assurance that the actual
future results, performance, or achievements expressed or implied
by such forward-looking statements will occur. Investors using
forward-looking statements are encouraged to review the Company's
latest annual report on Form 10-K, its filings on Form 10-Q,
management's discussion and analysis in the Company's latest annual
report to stockholders, the Company's filings on Form 8-K, and
other federal securities law filings for a description of other
important factors that may affect the Company's business, results
of operations and financial condition. The Company does not
undertake to publicly update or revise its forward-looking
statements even if experience or future changes make it clear that
projected results expressed or implied in such statements will not
be realized.
Executive
Contact:
Jennifer Powers Adkins
Vice President –
Investor Relations
Chico's FAS, Inc.
(239) 346-4199
Logo -
http://photos.prnewswire.com/prnh/20110920/FL71045LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/chicos-fas-inc-announces-new-300-million-share-repurchase-program-and-declares-cash-dividend-of-00775-per-share-300183581.html
SOURCE Chico's FAS, Inc.