By  on January 11, 2019

Shares of Chico’s FAS Inc. rose Friday after the retailer revealed plans to shutter stores and build its digital platforms.

The women’s apparel and accessories retailer said it would close at least 250 stores in the U.S. over the next three years. The store closures will be across all three of Chico’s divisions, including the namesake division, White House/Black Market and intimates brand Soma, and represent about a fifth of the company’s roughly 1,430 brick-and-mortar stores in the U.S. and Canada. The exact time of each store closure is still to be determined, but “weighted to years two and three,” according to a company statement.

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