Chico’s FAS (NYSE:CHS) is all set to start the new year in glory as David Pastrana takes over the President’s post of the company’s White House Black Market brand from January 10, 2018. Mr. Pastrana will be reporting directly to the president and chief executive officer of Chico’s, Shelley Broader and will oversee all the business activities for the brand. Also, the analysts have predicted a growth of 1.80% in 2018 for the retail company.
Mr. David Pastrana will take the place of Donna Colaco who decided to leave the job in the pursuit of new aspirations. Mr. Pastrana has an experience of more than a decade in the retail industry and over the years has held senior-level positions at Zara Topshop/Topman. He served as the President of Apparel since 2014 at the Sears Holding Corporation.
Known for his motivating leadership qualities, Mr. Pastrana has a credible track record of ensuring profitable growth through multi-channel initiatives and new merchandising tactics. He has immense experience in all the divisions of retail business and has carried out broad-based improvements in the various areas of operations including sourcing, technology, merchandising, marketing, logistics and more.
Ms. Broader said that being a proven leader, David complements the existing leadership of White House Black Market. The company’s CEO said that White House Black Market has a differentiated position in the market and enjoys loyal customer base which is why it is rightly positioned to achieve success. According to Ms. Broader, Mr. Pastrana will focus the team’s attention on a shared vision so that a stronger and more profitable image of the brand is created that will deliver the quality, elevated style, and service, the loyal customers are expecting.
Analysts’ Opinion on Chico’s Future Earnings
Analysts have forecasted that Chico’s earnings will see a slight rise of 1.80% in the next year. However, they have advised the investors to take into consideration the driving factors that can lead to this growth because the returns may not be sustainable for the shareholders. The experts have said that over the past five years the earnings of Chico’s have experienced contraction.
Although the average revenue has grown by 2.47%, its net income has come down to an average of -19.13%.
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