Chico's FAS Issues Statement On Barington Capital - Quick Facts

(RTTNews) - Responding to a letter published by Barington Capital Group, L.P. on June 28, 2016, Chico's FAS Inc. (CHS) said that Barington is not a long-term investor in Chico's FAS and almost half of its claimed current ownership is made up of derivative contracts. The company believes Barington's less-qualified candidates are simply not as well positioned to represent shareholders' interests.

The company noted that it would prefer to engage constructively with Barington. However, Barington has not engaged constructively with the Company.

The company believes that electing either of Barington's less qualified nominees would harm shareholder value and the significant progress the company is making.