Retail Group Chico's May Be a Target for Activist Investors

Chico's FAS Inc. may soon find itself in the cross-hairs of an activist campaign. That's after well-known insurgent investor Barington Capital Group LP reported last week that it owned about 230,000 shares as of Dec. 31 in the women's clothing chain. Barington Capital is no stranger to activism and has launched at least 44 campaigns at 37 different companies including 22 proxy fights since 1997, according to FactSet. Barington's founder, Jim Mitarotonda, has an expertise in the fashion and footwear sectors after launching his career working at department store Bloomingdale's in New York before taking a job at the retail consumer banking group at Citibank and later starting Barington in 1992. That's why it is very possible that Barington could seek to nominate directors to the board of the Fort Myers, Fla.-based retailer to push it into a sale.