Chico's sees a lot fewer stores in its omnichannel future

Chico's FAS management said on Friday that it would close 250 stores or more over the next three years between its three retail banners — Chico's,  White House Black Market and Soma. The company positioned the decision as a way to "rebalance the mix" of its online vs. physical store presence. The move, management believes, will help the retailer act strategically as leases expire, while improving profitability and ROI.