Chico's FAS rises on report it may be acquired by private equity firm Sycamore Partners
Shares of Chico's FAS rose in aftermarket trading Tuesday after The Wall Street Journal said the women's apparel retailer is close to being acquired by private equity firm Sycamore Partners.
Chico's FAS stock gained $1.69, or 9.8 percent, to $18.94 in aftermarket trading.
The Wall Street Journal reported that the two sides are in talks and a sale could be close. It cited people familiar with the matter, but said the deal is not done and could still fall apart.
Sycamore Partners declined to comment, and Chico's FAS did not immediately respond to requests for comment.
The Fort Myers, Florida-based company's brands include Chico's, White House Black Market, Soma Intimates and Boston Proper. It has over 1,500 stores in the U.S. and Canada, and in its most recent fiscal quarter it reported net income of $96.5 million, or 63 cents per share, on $2.02 billion in revenue.
Shares of Chico's FAS Inc. have risen 6.4 percent in 2015, and they are up 1.9 percent over the last 12 months.