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Chico's adds Victoria's Secret veteran to board


Chico’s is looking to a veteran of Victoria’s Secret to help the company navigate some troubling times.

The company announced that Cynthia A. Fields has been appointed to its board of directors, effective immediately. Fields was also appointed to the board's merchant committee.

David Walker, chairman of the board, said: "We are delighted to welcome Cindy to our board of directors. She brings deep and multifaceted merchandising and marketing expertise to our board, having developed a world-renowned direct retail brand that remains an industry leader and consulted for many distinguished brands. Her leadership and strategic perspectives will be valuable to our board as we further cultivate and grow our portfolio of brands."

Fields served as president and CEO of Victoria's Secret Direct from 1986 to 2000, as VSD became one of the most profitable direct operations in the world. From 2001 to 2014, Fields owned and operated CFC Consulting, focused on direct marketing and growth in various retail segments.

Previously, Fields held numerous roles in regional department stores, including Rike's in Dayton, Ohio; Hutzler's in Baltimore, Maryland; and Joseph Horne's in Pittsburgh, Penn. Fields served on the boards of directors of Blair Corporation from 2003 to 2007, and Intimate Brands, the publicly traded retail and direct marketer of the Victoria's Secret and Bath & Body Works brands, from 1997 to 2000.

There has been speculation that Chico’s is considering a buyout.Last month Bloomber reported that Chico's FAS is considering a sale to a private equity buyer, possibly Sycamore Partners.

Chico’s has been struggling to increase sales as the retailer’s brands have failed to resonate with shoppers. In the last fiscal quarter, the company reported a decline in same store sales.

Chico’s operates 1,548 stores in the U.S. and Canada.

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