(Filed Under wholesale Lingerie News). Soma reported a 30.2% comparable sales increase over last year’s third quarter as well as a 43.5% comparable sales increase over the third quarter of fiscal 2019.
Molly Langenstein, CEO of parent company Chico’s FAS noted that this marks “five consecutive quarters of comparable sales growth at Soma. To continue driving the Soma business forward, we have invested in inventory, capital and staffing, to position us to capture additional market share and to become one of the largest intimate apparel brands in the U.S.“
The company pointed to “data from market research firm NPD Group,” that it says indicates “Soma’s growth continues to outpace the market in non-sport bras, panties and sleepwear. Management believes this research, along with recent performance, is a clear indication that Soma is well positioned to continue capturing additional market share and grow into a billion dollar brand.”
Soma, however, does have some way to go to reach that mark. In the thirteen weeks ended October 30, Soma sales were $111,980,000, compared to $83,545,000 in the same period last year. For the first 39 weeks of this year sales for the brand were $347,500,000.
Since January 30 the number of “Soma frontline boutiques” has declined slightly from 241 to 238 as of October 30, while the number of Soma outlets has remained the same at 18.
Chico’s FAS also sells various types of apparel under the Chico’s and White House Black Market brands.— NM
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