Form 8-K CHICOS FAS INC For: Aug 30
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Stifel Remains Neutral on Chicos (CHS) Post-Q2 Report; Sees New Merchandising Strategy as Positive
August 31, 2016 2:32 PM EDTStifel affirms Chicos FAS (NYSE: CHS) with a Hold rating following Q2 results and outlook issued on Tuesday night.
Analyst Richard Jaffe offered the following key points on Chicos today:
New Cost Reduction Initiatives Announced The company announced an organizational redesign which is expected to generate $25 million in annualized savings. The redesign clarified roles, responsibilities and processes across the brands and shared services center. New positions were created in digital and business analytics, while the company reduced corporate and field leadership headcount by 200 or 13% to create a flatter organization. Additionally, Cynthia... More