(Filed Under wholesale Lingerie News). Second quarter sales at Soma fell 15.3% to $84.337 million, down from $99.623 million in the three months ended August 3, 2019.
In the first half of the year, sales for the lingerie division of Chico’s FAS were down 17.0% to $149.244 million from $179.704 million last year. The parent company sells a range of other types of apparel under the Chico’s and White House Black Market brands.
While online sales for all the company’s brands rose sharply in recent months, “Soma led the way with digital sales improving 70% in the second quarter over last year,” explained Chico’s CEO Molly Langenstein.
Significantly, the company closed only two “Soma frontline boutiques” in the period between May 2 and August 1, reducing the total to 242. During the same period the company maintained its 18 Soma outlets.
Chico’s reported, referring to all its brands, “at quarter-end, approximately 96% of the store base were open to the public,” but added it was “not providing comparable sales figures for the thirteen and twenty-six weeks ended August 1, 2020 as it is not a meaningful measure due to the significant impact of store closures as a result of the pandemic.” Neither is Chico’s providing third quarter or full year financial guidance.
A few days before Chico’s released its second quarter results, Soma announced the launch of new intimates collections (including WKND and Embraceable) as well as a “brand refresh” that features a new logo designs and a marketing campaign that uses the tagline “It Starts Within.”
The WKND collection “consists of multiple fabrications that are extremely soft and lightweight” and “includes styles with sustainable eco-yarn that are comprised of soft recycled yarns made from plastic bottles which require less energy. The collection is available in a variety of colors in sizes XS-XXL and ranges from $34-$89.”
The Embraceable collection offers lace bras and panties with floral lace designs. Other introductions it announced at the same time: “Soma Sensual sleepwear, bras and panties that are comprised of sensuous silk and satin fabrics; and Enbliss Soft Stretch panties with lightweight, breathable fabric in four styles.”
“Now more than ever, women are seeking comfort and a good support system in every facet of their life,” declared Kimberly Grabel, SVP marketing. “We’re embracing our evolution and know a woman’s greatest strength lies within. The new campaign showcases an example of empowerment and modern femininity.” — NM
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