Barington Releases Detailed Presentation On Chico's FAS

(RTTNews) - The Barington Group, which collectively beneficially owns more than 1.5% of the outstanding shares of common stock of Chico's FAS Inc. (CHS), said that it has released a comprehensive presentation detailing its strategic plan to improve performance and enhance long-term shareholder value at Chico's.

The presentation highlighted the Barington Group's successful track record working with underperforming retail and apparel companies and sets forth its comprehensive plan to improve Chico's performance and to enhance long-term shareholder value.

The Barington Group's plan involves improving merchandising and operating execution, growing the Soma brand, reducing the Company's high overhead and advertising costs, repurchasing common stock at current prices, and improving the Company's executive compensation practices.

In the presentation, the Barington Group details the key reasons why it is critically important that stockholders elect the Barington Group's two experienced, independent, stockholder-focused nominees: James Mitarotonda and Janet Grove.

The presentation also summarizes the Barington Group's concerns regarding the Company's Board nominees. These include serious concerns regarding Bonnie Brooks, whose election to the Board would create a material conflict of interest as she is the Vice Chairman of Hudson's Bay Company which owns and operates department store chains - including Saks Fifth Avenue and Lord & Taylor - that directly compete with the Company's three brands.