Barington Comments On Bonnie Brooks' Retirement From Hudson's Bay

(RTTNews) - The Barington Group, which collectively beneficially owns more than 1.6% of the outstanding shares of common stock of Chico's FAS, Inc. (CHS), issued a statement in response to the recently announced retirement of Bonnie Brooks as Vice Chair of Hudson's Bay Company. Ms. Brooks' retirement announcement comes on the heels of public criticism by the Barington Group regarding the Company's decision to nominate Ms. Brooks to the Chico's Board despite having significant conflicts of interest due to her position at Hudson's Bay Company.

James A. Mitarotonda, the Chairman and Chief Executive Officer of Barington Capital Group, L.P. said, "We are very disappointed that Ms. Brooks' retirement as Vice Chair at Hudson's Bay Company came only after Barington publicly challenged the Chico's board for nominating Ms. Brooks in the first place despite her serious conflicts of interest. This is just one more example of a problem at Chico's that is being addressed only as a result of Barington's involvement. It is clear that the Chico's board is in need of a fresh perspective and independent directors who are focused on doing what is necessary to enhance long-term value and protect stockholder interests."

Barington urged Chico's FAS stockholders to Vote the BLUE Proxy Card for the Election of the Barington Group's Candidates to the Chico's Board.