After a "challenging" 2006, the company has revised its targeted net new store openings for fiscal 2007 downward to between 135 and 145 new stores (excluding the 10 Fitigues planned closures). Plans call for 55 to 60 new Chico's stores, 55 to 60 White House/Black Market stores and 20 to 25 Soma stores. In addition, 45 to 55 relocations/expansions are planned.

"We have decided to slow down the Soma store growth somewhat so that we can focus on strengthening the management team, improving profitability and expanding Soma beyond the Chico's customer," said Scott Edmonds, president and CEO. "We continue to believe, now more than ever, that the Soma intimate apparel concept represents an excellent market opportunity within the specialty apparel arena."

Soma stores will drop the "by Chico's" tagline in an effort to expand its market beyond Chico's shoppers, which currently constitutes 90% of its customer base, Edmonds said. In addition, Soma's site criteria are being modified after testing a variety of locations and sizes. Future units will average 2,020 sf.