FORT MYERS — Shares of women's retailer Chico's rose more than 9% in after-hours trading after reports the company might be taken private.
The Wall Street Journal reported Tuesday that private-equity firm Sycamore Partners is in advanced talks to acquire Chico's, citing unnamed sources. New York-based Sycamore was recently seeking financing for a buyout of Chico's, indicating a deal could be close, the newspaper reported.
Investors have frequently speculated that Chico's might be a takeover target, with reports of a deal as long ago as 2012. The Fort Myers-based company has no debt and it recently reported $666 million in sales in the most recent quarter.
Chico's stock closed at $17.25 on Tuesday. The company plans a conference call with investors on Feb. 26 to discuss the fourth-quarter and full-year results.