Chico’s FAS, Inc. (NYSE:CHS) continues to move up in the pre-market session on Monday after soaring 23% over the past week.
Major Trigger:
Chico’s FAS, Inc. Affirms Commitment to Taking All Appropriate Steps to Drive Shareholder Value
Key Highlights:
- Chico’s FAS has ongoing conversations with its shareholders, including Barington, to discuss the Company’s strategy and operating plans and appreciates the input it receives.
- The Company is making tremendous progress in its turnaround strategy to become a digital-first, customer-led company. This work, which commenced in the third quarter of 2019, was showing significant traction prior to the pandemic. In addition, actions taken over the last 18 months to reduce costs and strengthen the Company’s balance sheet provide a strong financial foundation to invest and grow for the foreseeable future.
- Chico’s FAS looks forward to sharing more about the Company’s progress on its first quarter 2021 results tomorrow.
- We look forward to continuing to engage with all of our shareholders, including Barington, about this work and the execution of our transformation strategy. We are committed to taking all appropriate actions to improve performance and drive shareholder value.
Market Reaction
As of 7:01, CHS stock moved up 6.61% to $6.13. The stock has traded 575 shares so far in the pre-market session.
