Chico’s to Replace Brand President

Fort Myers, Fla.-based Chico’s FAS announced the president for its flagship Chico’s brand, Diane Ellis, will be stepping down, effective tomorrow, Friday, Nov. 30.

Chico’s FAS Chief Executive Officer Shelley Broader will lead the brand until a replacement is found.

The news comes as the brand reported disappointing third-quarter results. The company’s other brand, White House | Black Market, also performed worse than expected. 

Earnings for the company were down 60 percent from a year ago, a decline from $16.7 million to $6.5 million. According to Naples Daily News, net sales fell by 6.1 percent and same-store sales fell by 6.8 percent.