Chico’s FAS Inc. and its White House|Black Market Inc. division said Wednesday that they had “amicably” resolved their lawsuit against rival women’s retailer Caché Inc.
Neither party disclosed the terms of Wednesday’s settlement.
In July, Chico’s accused two former employees, Rabia Farhang and Christine Board, of supplying their most recent employer, Caché, with confidential information and trade secrets.
Filed in New York State Supreme Court, the lawsuit alleged that the former WH|BM merchandise managers provided Caché with product design and developmental plans regarding WH|BM’s seasonal lines through 2010.
Originally, WH|BM claimed that Farhang, currently Caché’s executive vice president and general merchandise manager, and Board, a senior merchant, were “intimately involved in the conceptualization and development of WH|BM’s 2010 spring, summer and fall seasonal lines, including color palettes, themes and prints, designed styles and outfits.”
Other charges against Caché and its two merchants included breach of contract, misappropriation of trade secrets, unfair competition, theft-conversion and breach of fiduciary and other legal duties.
Separately on Wednesday, Caché updated its guidance for first-quarter results to a loss of between 6 cents and 7 cents a share from a loss of between 7 cents and 9 cents a share. Analysts were looking for a loss of 8 cents, according to Yahoo.