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Article: Back in Fashion: After a strong start and then a stumble, specialty retailer Chico's FAS is riding the Baby Boomer wave. (Chico's FAS).(Brief Article)(Statistical Data Included)
- Article from:
- Florida Trend
- Article date:
- January 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Trend Magazines, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In the early 1990s, in the days before gravity-defying dot-corn stocks, the big hits among investors were companies like Boston Chicken and Chico's FAS, the Fort Myers-based women's retailer. The dot-coms fell back to Earth. Boston Chicken Inc. filed for bankruptcy in 1998. But Chico's is back in fashion.
The specialty retailer's shares hit a 52-week high of $39 in early September. Following the terrorist attacks, Chico's stock retreated before climbing back to the mid-$30s in early December. Until Sept. 11, the company had posted same-store sales growth of more than 12% for 17 consecutive quarters. In October, Forbes magazine named Chico's the "best small ...