Welcome to the Chico's FAS Virtual Investor Day. For reference, this presentation and replay will be available on our investor relations website at www.chicosfas.com under Events and Presentations. Today's comments will include forward-looking statements regarding our current expectations, assumptions, plans, estimates, judgments, and projections about our business and our industry, which speak only as of today's date. You should not unduly rely on these statements. Important factors that could cause actual results or events to differ materially from those projected or implied by our forward-looking statements are included in today's presentation, our SEC filings, and the comments made on this call. We disclaim any obligation to update or revise any information discussed in this presentation, except as may be otherwise required by law. Now, I'll turn the call over to our CEO and President, Molly Langenstein. Welcome. Today, we are hosting our first Investor Day in more than five years, and we'll share our growth plans linking product, customer, and commerce. We'll spend about 90 minutes, which includes our prepared comments, and then have time for questions and answers. I will begin by discussing our overall vision, company strategy, and opportunities for each of our brands. Then Jay Topper, our Chief Digital Officer, will share more about our digital-first strategy. Kristin Gwinner, our Chief Human Resources Officer, will talk about our culture and ESG initiatives, and PJ Guido, our CFO, will review our three-year financial targets. Let's get started. We are a $1.8 billion vertical specialty retailer founded and led by women. We have a vision of creating a world where women never have to compromise. Our purpose is to provide solutions, build communities, and create experiences that bring women confidence and joy. We are a portfolio of three unique brands, Chico's, White House Black Market, and Soma, with each having their own distinct opportunities for expanding market share and growth. Chico's FAS originally stood for Folk Art Specialties. Today, we have reimagined every part of the company, and FAS now represents Fashion, Artistry, and Solutions, which is representative of how each one of our brands build product and links that product to our customers. We are a new company, and here's how we're gonna grow. Each of our three brands, Chico's, White House Black Market, and Soma, is positioned for growth. All three are growing faster than the market average. Today, we are merchant-led, collectively with more than 200 years of merchant and design experience on our management team and board, which is a meaningful shift from the past. We are customer-driven. Our entire organization is focused on our customer, providing innovative solutions through products and personalized service. We wear test our products and then vet them through our customers to ensure our key franchises are built for growth with the customer's mindset. We have 6.7 million active customers with more than 90% participation in our loyalty programs, which is one of the highest participation rates in retail. We are currently enhancing our loyalty programs to a tier model to incrementally reward customers for spending more. Under our historical loyalty program, our top 250 Chico's customers who spent an average of $22,000 each last year earned the same reward percentage as customers that spent $100 with us. This is what is changing. In 2019, Chico's FAS was a company burdened by multiple years of weak performance, liquidity challenges, and organizational and infrastructure inefficiencies. We experienced several years of negative comps and struggled with product quality. We were highly promotional, and earnings growth was far below the company's potential. We diligently built a transformational strategy to reset the organization with a merchant-driven focus, reimagined each of our brands, and reinvented our product assortments and created an efficient shared platform with a digital-first mindset. We aggressively pursued our turnaround strategy even in the midst of a pandemic, and today are ahead of our plan. We've delivered a 430 basis point improvement in operating income, achieved a nearly 60% increase in EBITDA, and restored profitability since 2019, and we are positioned to further accelerate our growth. We've reset the organization, putting merchants at the head of each of the brands, driving design and merchandising. Each head merchant has a proven track record and deep understanding of the customer that they serve. We have created a powerful, focused, expert-shared organization to take their proven playbooks to each of the brands. We have deep expertise in digital, technology, marketing, social, creative, planning, stores, community builders, and brand ambassadors on a financial platform to unlock growth in the years ahead. The reset is working. We are poised to grow to $2.5 billion enterprise by fiscal 2024. We studied the customer and the product and reimagined each of our brands, rebuilding franchises. Franchises are core to attracting new customers and retaining them. They are single item categories like shirts, denim or bras, or collections created around these categories that we've built with the customer insights, providing value and high-quality solutions. We also reimagined the marketing and the brand expression based on our new designs. Over the last two years, new and returning customers are discovering and rediscovering our brands. The reset is working. Our product is selling at meaningful, faster sell-through rates. We are delivering more full price sales and gross margin is 230 basis points higher than in 2019. We created a shared platform investing in the talent and tools to transform into a digital-first company. We launched a myriad of digital tools, including our proprietary personal styling tools, My Closet and Style Connect, Shop The Look, new mobile POS, BOPIS, and site enhancements leveraging AI technology. Customers using these tools are more engaged and spend meaningfully more than other customers. The reset is working. We drove a 1,200 basis point increase in digital sales since 2019. We are on the path to become a $1 billion digital business in the next three years. Chico's, White House Black Market, and Soma have extremely loyal customers. Now let's dig a little deeper as to why this is important and how we will unlock growth in the next few years. First, new customers that are coming to each of our brands are younger than our average customers today. Once customers come to each of our brands, they stay an average of seven years-12 years. Proof that once we have a new customer, we can keep them and they will create future benefits. Our customers across the three brands are also digitally focused. More than 71% of our traffic is coming through mobile, and 42% of our sales are digital. We are leveraging our customer data platform and technology investments, like our new app in each brand, to drive higher engagement and increased average order value. We will also leverage the unique customers in Chico's and White House Black Market so that potentially every apparel customer can also be a Soma customer. It's a much more efficient and cost-effective way to acquire new customers for our growing Soma business through connections to our apparel business. We have four clearly defined strategic pillars that have guided our turnaround strategy since 2019. We are customer-led, product-obsessed, digital-first, and operationally excellent. Customer-led means we are focused on community engagement, that we create exceptional customer experiences, and that we increase customer lifetime value. Being product-obsessed, we deliver distinctive, premium, best-in-class items that provide solutions while considering sustainability. Digital-first means we want to strengthen our core platform and data-driven insights and decision-making. To be operationally excellent, we will approach our product development with fabric first and ensure that we have prudent inventory management and enhanced supply chain and continue to optimize our real estate. The power of three unique brands is fueling growth through three powerful platforms, creating connections, community, and collaboration. We are enabling our customer to interact with us in a seamless manner. We are fueling growth, meeting customers where they are. Our physical stores are community centers for entertainment, discovery zones, and places for key interactions with our stylists and bra experts. Digital is a community hub for content studios, a first impression of the brand, and an efficient way to teach and inspire. Our social brand ambassadors can expertly connect the two. These are a combination of store associates, Facebook Live and Instagram Live hosts, and our team of social stylists that work in hyper local communities, or party planners meeting customers in their homes, or scheduling social events with their communities and hosting home parties for all three brands. The connection of physical commerce, digital commerce, and social commerce is the key to future growth and the platform we will leverage for community, connection, and collaboration. The tools we have built through Style Connect and our strong digital business will continue to be fueled by the social stylists and brand ambassadors that can live anywhere, bridging the gap where we have closed stores and where we may need more density in a geographic area. We are on a trajectory to achieve the three-year targets you see before you. We expect our total revenues will exceed $2.5 billion, which includes more than $1 billion of digital sales. Our gross margin rate will reach 40%. We will deliver a 7.5% operating margin, and EPS will grow at a CAGR of 15%. We will generate close to $400 million of cumulative cash flow from operations in the next three years, all leading to shareholder return of over 15%. PJ will talk in more detail about these targets in a few minutes. Now let's talk a bit about our individual brands. Chico's is a boutique of solution-oriented products focused on color, fit, and inclusive sizing. Within Chico's, we offer several core franchises. Chico's brand ethos is about inspiring accomplished women to embrace and express their individuality. She is confident, fun, and creative. She doesn't take herself too seriously. She is magnetic and genuine. I love our Chico's customer. I guarantee you, if you are having a down day, just go into a Chico's, and you will feel better 'cause the energy is contagious. We grew the brand 160 basis points faster than the specialty store market last year. The categories of knit shirts, pants, jeans, and woven shirts grew faster than the market. Chico's is competitively positioned to continue to grow faster than the market and to take more share of the $63 billion women's apparel marketplace. Demographics are in our favor. Chico's is number one in market share among consumers aged 45-64, with household income over $75,000 compared to other specialty stores. Baby boomers currently represent Chico's largest customer group, and they are spending more on apparel than any other age group. In addition, Chico's gained more new older millennial customers than any other age group last year. The 40-year-old millennial is the largest generation and represents the biggest percentage of the country's workforce. The Chico's customer is intensely loyal and a coveted demographic, and the base is still growing. Our customers are accomplished, and half of them make more than $100,000 a year. We have an 89% brand awareness, and they love our unique sizing, which has been inclusive since the inception of the brand almost 40 years ago. 61% of the U.S. market is a size 10 or larger, and we fit customers from size zero= size 20. We find new customers are coming to the brand because of our inclusive sizing, and many times our bottoms are the entry point. Loyalty is real in Chico's. In fact, there's a Facebook group called Chico's Shoppers that is run independently from the company, managed by a group of nearly 20,000 strong and growing fans of the brand. Peggy Caldwell, the coordinator of the group, says it best, "Chico's is a place where women can come and be themselves, share without worry. Our customers step out in many ways that exude confidence. They show us their hesitancy, honesty, flamboyance, fear, and fearlessness. Our customers are doctors, lawyers, educators, business owners, business executives, an outstanding group of intelligent women." Our solutions-oriented playbook centers around ease and fit, comfort, and wearability. Our No Iron Shirt franchise continues to deliver for our customers. She loves our So Slimming bottoms and new 360 paneling and flex waistband pants. Our wrinkle-free Zenergy and sustainable and wrinkle-free Travelers collections meet her needs in how she lives, works, and travels. A key to our growth is the loyal relationship between our stylists and our customers. These relationships are getting stronger, and they will continue to build bigger communities. We have 5,000 active stylists that are Chico's style enthusiasts who build relationships and deliver personal service. On average, they've been with us nearly five years, and they serve a total of 2.6 million active customers. This group of customers spends almost $300 on average annually, and 1.7 million Chico's customers are enrolled in Style Connect, driving longer tenures and greater sales. 70% of our customers are affiliated with a stylist, which is a powerful personal connection. Digital tools and digital personalization are made even more powerful when there is a personal relationship shepherding the person in personalization. We will accelerate Chico's growth with our four strategic priorities. First, delivering continuous product solutions with quality and value, evidenced by our new 360 fit that is beating expectations. Driving best-in-class selling teams and unique inclusive sizing, demonstrated by 70% of our customers that are connected to a stylist. Creating modern and familiar franchise product supported by our elevated fabrications, attracting new customers. Leveraging customer and data for franchise growth and innovation solutions, proven by 74% of our customers being digitally engaged. We are accelerating our sales growth at Chico's. We expect to grow our sales from $816 million in fiscal 2021 to over $1.2 billion in fiscal 2024, representing a CAGR of low-to-mid-teens. YoY digital sales will grow, and penetration should remain stable at around 40%. We have the number one specialty store market share for consumers 45-64. A covetable market that is growing according to NPD, as they are the least disrupted and the fastest-growing in apparel spend. Now, let's turn to White House Black Market. At White House Black Market, our customers can discover affordable designer details with feminine tailoring focused on our core franchises with solutions. White House Black Market's brand ethos is inspiring independent women to embrace both their power and their femininity. She is confident, optimistic, stylish, and social. The White House Black Market brand also grew faster than the specialty store market by 100 basis points last year, with knit shirts, pants, and jeans outpacing the average. We are positioned to continue to capture more of the $63 billion women's apparel market based upon our unique positioning of high quality, feminine apparel at an appealing price, squarely going after the white space in the better contemporary category. We are in the sweet spot now with meaningful runway ahead. Among consumers aged 45+ years and buying between $50 and $70 average unit retail apparel, White House Black Market is the number three specialty retailer. We are gaining more new millennial customers than any other age group. White House Black Market's affordable designer details have created a loyal customer following. Women of all ages love our classic clothing with a modern flair that is stylish yet sophisticated. The White House Black Market customer is affluent. 65% of customers have an average household income exceeding $100,000. One in three customers identify with being in senior or middle management, and 67% of our customers are working full time. Today, she's spending nearly $300 annually with the brand. Our designer details playbook supports versatile dressing in seasonless fabrics, surrounded by black and white and neutrals with pops of color in three pillars: timeless tailoring, premium denim, and inspiring dresses. Geared around the way a woman lives, works, and plays today, our jackets can be worn with pants or jeans, and all of our fabrics have stretch and ease. Even though she looks so polished, she is incredibly comfortable. Our versatile social dresses will look great at a meeting or a special event, or can be paired with a jean jacket and a pair of sandals. The relationship with our stylists and our customers is building bigger communities. We have 3,500 active stylists that have been with the brand more than three years. We have 1.7 million active White House Black Market customers, and 70% of our customers are affiliated with a stylist. Our customers are fashionable and fashion-savvy, and they tell us that the authority for their fashion is her White House Black Market stylist. There is a trust relationship that has been built. Our stylist knows her customer and leverages Style Connect with 1.4 million customers enrolled, as well as My Closet, so that they can continue to build wardrobes and versatility for their customers. The strategic priorities for White House Black Market are to create stylist solutions for her versatile lifestyle, leading with fabric and details. Evidenced by how our customers are responding to our new pants and denim. Refine the ideal extended fit and size offering to meet customer demands, supported by inclusive sizing from double zero- 18 and added lengths and also fits. Increase the digital offering in key growth areas, proven by our growth of digital penetration to 40% last year. Optimize the price elasticity in key categories, supported by a 26% increase in AUR over the last two years. We expect White House Black Market sales to grow from $516 million last year to over $620 million in fiscal 2024, representing a mid- to high-single-digit CAGR. We expect year-over-year digital sales to grow and digital penetration to remain relatively at just 40%. Soma, our fastest-growing brand, is our inclusive intimate apparel brand on track to become one of the largest in the U.S. Soma's brand ethos is inspiring all women to embrace the passion for both comfort and confidence. She appreciates fashion as much as function. She exudes individuality, honesty, and positivity. Soma has been taking market share and growing faster than the market in non-sport bras, sleepwear, and panties, and is in a strong position to capitalize on this growing $24 billion intimate apparel market. Soma gained new customers across older millennials, Gen X, and boomers, giving us a competitive advantage for the future. Soma market share positioning amongst consumers 35 and over with household incomes of over $100,000 is tied for the number two positioning behind the market leader for the specialty and department store segment. At Soma, we create beautiful, effortless solutions for our customers. We are continuing to capture market share. We are a top five brand in sleepwear and a top 10 brand in non-sport bras and panties. four out of five customers repurchase bras within seven months, and 50% of all women in the U.S. consider Soma when choosing where to shop. We have an affluent customer base, with nearly 60% of our customers earning over $100,000 annually. We've gained over 1 million new customers in 2021. Key to Soma's growth is building her bra wardrobe. We offer a myriad of bra solutions and have the absolute right bra for everything she does in her life, from wireless bralettes to sports bras to strapless or push-ups for those special occasions. Soma wants to be her destination for all of her bra needs. Our playbook for growth is centered around a continual pipeline of innovations and comfort solutions with six key franchises, the Enbliss Luxe, Vanishing 360, Lightest Lift, Unbelievable Lift, the Enbliss Wireless, and finally, our newest game-changing bra innovation, Bodify, introduced just last month. Bodify was influenced by 1,500 customers and is the very first smart bra in the marketplace. The patent-pending $68 bra includes proprietary technology that adjusts to a woman's individual body measurements as they fluctuate throughout the month. What we know about our loyal Soma customer is that customers prefer to have their bra fittings in a store with a bra expert. Once we introduce her to her favorite bras, then she quickly replaces and reorders and replenishes her bras online. We have 2,000 bra experts that have been with the company over two years, connecting with our 2.9 million customers. 52% of our Soma customers are connected with a bra expert, and 1.4 million are enrolled in Style Connect. Our strategic priorities for Soma are to, first, develop an innovation pipeline to create customer-led bra solutions, demonstrated by our new Bodify bra, co-created with 1,500 customers. Next, drive brand awareness and new customer acquisition through digital and new store openings, evidenced by the 1 million new Soma customers added in 2021. Develop and grow sport and wellness franchise, like our newly launched sports bra. We will continue to march to a billion-dollar brand and build on our impressive six consecutive quarters of comparable sales increases, growing both the digital and store channels. Soma has grown 30% since 2019 and is capturing market share in the 35+ age group and $100,000+ in income market. We expect Soma sales to grow from $478 million last year to over $680 million in fiscal 2024. Digital penetration should remain between 45% and 50%. Now, let me introduce Jay Topper, our Chief Digital Officer of Chico's FAS. Jay. Thank you so much, Molly. I am excited to talk about our digital-first strategy. We have traveled an incredible distance these last two years. Our performance shows our success, but I am even more energized about the opportunities ahead. I truly do believe the upside is tremendous. We are in a digital-first world. Over the last two and a half years, we have transformed Chico's FAS into a seamless digital-first customer-led company through investments in technology and talent, as evidenced by the trajectory of our digital sales over that timeframe. Today, over 40% of our sales are digital, a 12 percentage point improvement over just two years ago. In 2021, we had over 5 billion customer engagement events with our customers, and 99% of those events were digital. More specifically, 25% of our digital business is now driven by our proprietary digital tools like Style Connect and My Closet. Customers using these tools are more engaged, have higher conversion rates and larger order value than customers that don't. We fundamentally believe that with our fantastic product strategy as our bellwether, the biggest impact to our business will be curating each digital event to stimulate deeper engagement. This deeper engagement will lead to a larger active customer base and a higher lifetime value of each of those customers, our two KPIs of the highest order. Our customers are loyal, directly connected with our brands, and digitally engaged. 90% of our customers are in our loyalty programs, 63% of our customers are affiliated to a personal stylist, and 70% of all purchases are digitally influenced. We have the foundation for accelerated growth. Our store and digital sales are intertwined. The average digital spend is 30%-100% higher in markets where we have a retail presence compared to those where we do not. For example, in Dallas, spend is nearly 180% higher. In Lancaster, Pennsylvania, it is 60% higher. In the East Atlanta, Athens, Georgia region, digital spend is up over 40%. While this shows where the physical and digital feed each other, in states with fewer stores, we have been piloting social selling via a team of virtual stylists that are not affiliated with the store. They are able to bring the charm of the store experience to consumers digitally. While the program is in its early stages, virtual stylists targeting lower store density areas have shown positive results with a fraction of the infrastructure. Connecting our customers to multiple commerce channels is the most powerful outcome of our digital-first roadmap. Multi-channel customers across brands engage with us far more often and have a much higher average spend, 3x that of a single channel customer. With our focus on enhancing our experiences, we expect to migrate our store customers online and vice versa, driving our sales higher and expanding our operating margins along the way. Bringing the hyper-personalized experiences to our digital ecosystems at scale is front and center of our strategy. Digital first does not just mean e-commerce. It is optimizing the use of data and technology to meet the dynamics of a forever blended digital and physical world. Our digital-first strategy has three primary components, connected commerce brought to life by data centricity and technology enablement. First, connected commerce. Of course, we want to offer a seamless and personalized integration of in-person and digital experiences. These table stakes enable our customers to shop when and how they want to engage with the brand on their turf. It doesn't begin and end there. Connected commerce is the digital-first version of omni-channel engagement. It is realizing in a personalized fashion the promise of each brand delivered across our billions of touch points. It begins with customer acquisition, moves through purchasing our products in our multiple commerce channels on to delivery and ultimately to retention. We are building an enduring customer relationship model that brings her back more frequently using the strength of our product, and then by exceeding her expectations with relevant content, experiences, and engagement to bring our brand positioning into her life. At Chico's FAS, we have had many recent successes. We have our Style Connect application that enables us to reach over 5.1 million enrolled customers through personalized communications, appointments, and transactions. This platform represents 10% of all digital sales. In addition, we just started to scratch the surface on social selling in 2021. We have had over 1 billion impressions in our social channels, including 10 million live video and reel views for our two apparel brands. The response has been overwhelmingly positive. We also recently launched mobile apps for our three brands and have had almost instant success. We have had over 75,000 downloads in short order and a 4.9 star rating in the Apple App Store. Our Android apps are due to launch in the Q2, and other unique and sticky experiences will follow. Our future in connected commerce is even more exciting. We launched our new Soma loyalty program in the Q4 and will launch our new programs for Chico's and White House Black Market this summer, further strengthening our enduring personal relationships with our customers. We will power personalization at scale, not just across sales channels, but more specifically through our loyalty programs to drive deeper, more meaningful engagement. Loyalty is more than membership. In our business, it represents a potential step change in lifetime value. We also plan to leverage the power of our three brands more fully. For example, we have on our roadmap digital cross-selling to offer Soma products directly to our Chico's and White House Black Market customers in a targeted manner and vice versa. This will have a meaningful impact on our customer's lifetime value as proven out in our stores. Our second digital-first strategic component is data centricity. Simply put, this is a two-pronged component. First, we are enabling every function at Chico's FAS to quickly make better informed decisions that drive the business forward in the most meaningful way. Secondly, we are using this data to build customer experiences that become more and more intelligent, more personalized, and more automated after each and every customer interaction. At Chico's FAS, we have prioritized data by creating a center of excellence and making key hires to fuel its success. We have built and are enhancing best-in-class data and analytics capabilities, including predictability, automated learning, and personalization. We are accomplishing this through best practices in data centralization, data quality, and end-user enablement. In short, we are transforming Chico's FAS into a data-driven company. Over the next three years, we have three primary focus areas to continue to drive data centricity. First, we will continue to evolve our targeted marketing, including sophisticated channel attribution and customer segmentation, which will launch this year, along with the ability to find new similar customers for improved acquisition performance. The growth of our customer file is again a core metric to our success. Secondly, we will continue to advance our personalization capabilities to provide automated one-to-one or one-to-many experiences that provide content that matters specifically to her or to one of her selected communities, driving conversion and average order value. Lastly, we are going to focus on data-driven localized assortments. This is not just automating allocation and replenishment, but adding science to our systems to have inventory at the right place at the right time to best serve her needs while decreasing the number of times we touch our own inventory. Our third and final strategic component is technology enablement, which will be the foundation, along with data of all we do for our customers moving forward. While foundational platforms are not always business relevant, today's technology environment has shifted to modularity, which dramatically increases offerings while shrinking the time to market of new and better experiences. Continued modernization will enable this speed to market of innovative experiences and our ability to pivot rapidly to meet macro and micro changes in consumer expectations and behavior. This speed to market pillar in a digital-first boutique retail environment cannot be overstated. We have had several recent successes. For example, late last year, we launched a best-in-class SMS platform in a matter of weeks. In the last few months, we had added over 1 million customers to this new marketing platform, and it is growing across all brands. Secondly, we have installed a new customer data platform with both first-party and third-party data, connecting hundreds of data points to each customer that will improve the performance of all of our marketing channels and ultimately our commerce and service channels too. Lastly, we launched Chico's FAS' first content management system. This headless platform enables marketing and merchants to make changes to digital experiences without involving technology, and our speed to market with these changes is 10x than what we experienced just one year ago today. Beginning in 2021, we started incrementally improving our technology foundation with a modular cloud-based technology stack that is more agile and enables this speed to market. This powerful combination of a modern technology stack and our new data platform will give Chico's FAS one of the most modern platforms in the retail industry today. Deployment is in process with concrete benefits realized at several milestones along the way. In addition to modernizing our commerce channels, this improved technology will bring intelligence and efficiency to our customer service function, allowing us to collect and harness consumer insights from the entire customer journey and bringing these insights to light to enhance our product, marketing, and commerce experiences further driving our growth. Lastly, we will drive improvements in our merchandising systems from ideation through the manufacturing, purchasing, and ultimately the delivery of product. Shrinking our product life cycle is customer focus, bringing the product closer to the customer and allowing for more accurate planning. Our target is to reach over $1 billion in digital sales by 2024 through improved traffic, conversion, and average order value. Our roadmap positions us to build on existing momentum and rapidly innovate to meet our consumers' evolving needs. Our investments are tied to making both our customers and our associates experiences more efficient, more personalized, and more creative. With our fully embraced digital-first culture, we will continually test and pivot to drive the best business results in the shortest amount of time. We are at the right place and at the right time in our history to bring this strategy to life. Thank you for your time. Now, allow me to turn the meeting over to Kristin Gwinner, our Chief Human Resources Officer for Chico's FAS. Kristin? It's a pleasure to be with you today to share with you a bit about our culture and our ESG initiatives. The ethos of Chico's FAS pulls through all aspects of our organization. Just like our customers, we want our associates to experience confidence and joy. We are curious, inclusive, and positive. We feel we are stronger together, and each of us is a piece of our fabric and our culture. Our core values shape the culture of our organization. At the center is the customer centricity, both internally and externally. We are customer-led. The first listed is intentional, a passion for fashion. It's what we do. We inhale fashion and exhale style. Equally important is to continuously improve, follow our curiosity, taking moments to be inspired and inspire others, and ultimately, we are accountable. Our culture was created by associates and is what makes us. Our culture is a strong competitive advantage for Chico's FAS. Our company is merchant-led by design. Molly Langenstein, our CEO, is a 30-year industry veteran. We have exceptional merchant and design talent throughout the company. You can see our leaders of merchandising and design for White House Black Market, Soma, and Chico's. Each are industry experts with proven track records and successful careers at a myriad of other iconic retailers. Most importantly, they are passionate about our customer. Chico's FAS is customer-led and focused. We have great associates, our internal customer at the center of everything we do. We know that how well we treat our associates is directly reflected in how well they treat our customers. We value all of our associates and keep the following four components top of mind, pay for performance, fostering a diverse and inclusive work environment, encouraging feedback so we can continually improve the business, and focusing on the whole person, the body, the heart, and the mind. At the heart, it is essential that our associates are engaged and feel valued for their impact in our organization. We have made investments in our associates throughout the organization, inclusive of wage increases to ensure we are competitive and remain a preferred place to work. Chico's has created a purposeful and impactful inclusion and diversity infrastructure led by our Inclusion and Diversity Council. We are deeply committed to fostering an inclusive environment and celebrating everyone's individuality. This is important to all of us. We value authentic conversations with a continuous feedback loop so we can continue to provide what is most important to our associates. We have regular Let's Talk sessions where associates can share what is most important and on their minds. We conduct pulse surveys frequently, which allows us the opportunity to stay connected with our associates, actively listen, and take quick action based on results. Our associates have wonderful ideas, and we want to hear them. Recognition is a huge part of our culture. We have created a digital recognition platform for all associates to engage with, allowing us to recognize each other anytime and for all to see. Associates can recognize one another on important moments with a focus on business impact linked to our values and strategic initiatives. As it relates to focus on the body, in addition to providing a full suite of health and wellness benefits for our associates, on both our corporate and distribution center campuses, we have on-site health clinics for wellness, acute care, disease management, and mindfulness. Mental health is also a growing concern, and we offer on-site behavioral health counselors as well. In addition, we have free state-of-the-art fitness centers with trainer-led classes. At our corporate campus, we offer a childcare center for infants through pre-K. This makes a huge difference for our nursing mothers and working parents. They enjoy the flexibility of visiting their child during the day to have lunch or to read to the class. For the mind, we offer extensive training so our associates can personalize their development plans and career journey. For example, FASU, our internal company-wide learning center, offers virtual, hybrid, and on-site training for a variety of topics from self-discovery, leadership, product knowledge, and technical training. We work hard but also have a really fun work environment. We encourage associates to pursue their passions, philanthropy, and volunteerism. It's not unusual to see associates volunteering together, having touch base conversations while walking outside or bicycling around our beautiful campus for a quick break, enjoying the many oak trees. One was actually planted for each of the first 1,000 Chico's store openings. We work hard to attract and retain some of the best talent in the industry. We are proud to be recognized by several organizations for prestigious awards for diversity and the best retail experience. Our engagement surveys continue to show best-in-class results, with 88% of our associates saying they are proud to work for Chico's FAS, 83% believing they make a difference, and 77% feeling personally connected to the vision and the purpose of the company. With the talent landscape so competitive, we value our store manager retention rate of 80% and our top talent retention rate of 85%. These are remarkable statistics in this particularly volatile period. We value retention and understand the criticality of the relationship between our associates, the company, and our customer. Now let's turn to our environmental, social, and governance efforts. We are on our journey and committed to being a positive force in the ESG movement. Our ESG initiatives align with our four pillars of being customer-led, product obsessed, digital first, and operationally excellent. We have established an ESG board committee and created an internal cross-functional team to help drive change across the organization. On the environmental front, although we have certainly more work to do, we have several initiatives underway. We are already using 3-D design technology, which not only speeds time to market, but reduces physical samples and paper usage. Chico's is customer led, and we are aware of smart design and the impact of our design choices. We use high-quality raw materials, and our design team works closely with our customers and sourcing team to assure we are designing to value, including the elements that our customers truly feel are the most important. We are product obsessed, and we want to be a responsible steward of the planet's resources and be recognized as a brand that cares for the environment and the best possible utilization of resources. We are elevating our responsible sourcing efforts. The company is committed to partnering with our suppliers in efforts to make improvements along our supply chain in reducing environmental impacts. We are sourcing sustainable raw materials with lower carbon footprints and water usage and integrating fabric innovations that eliminate plastics from landfills and the ocean. For example, a portion of our Chico's Travelers collection uses fabric made with sustainably sourced wood. In the social area, we are committed to empowering women and representing our customers through diversity in our workforce. Women represent 96% of our associate population, 92% of our managers, 69% of officers, and half of our board members. In addition, giving back to our communities has always been core to Chico's FAS, and we are especially connected to organizations that empower and uplift women. For several years, Chico's FAS has been proud to offer our Soma bra donation and bra recycling programs to our customers. Our partner is I Support the Girls, who helps women who experience homelessness, impoverishment, or distress to restore dignity and hope by providing essentials during these times. We recently announced a similar denim donation program for Chico's and White House Black Market. On the governance side, we have an exceptional and diverse board of directors that provides invaluable leadership and oversight to the company. Our board committees are aligned to our strategic priorities, including a merchant committee and recently formed ESG committee. Now, PJ Guido, our Chief Financial Officer, will talk to you about our three-year financial targets. PJ? Thanks, Kristin, and thank you to everyone joining today and for your interest in our company. We believe Chico's FAS represents a very compelling investment opportunity, and I am excited to share how our strategy, digital focus, and culture are all translating into strong financial performance. We are positioned to take advantage of our existing momentum and create substantial shareholder value over the next three years. Here's why. We have a powerful portfolio of three distinct brands, each with their own unique opportunity for growth and each already gaining market share in their respective space. Our talented leadership team has extensive experience, has successfully orchestrated a turnaround, and is now laser-focused on delivering outsized growth within specialty retail. Our loyal customer base and customer-led culture have been built over 40 years and are competitive advantages that cannot be easily replicated. We have a powerful shared platform that is serving our three brands and unlocking synergies across the company. Our store teams are unmatched in commitment and passion, and in many cases, experience. We have a strong balance sheet and lean cost structure that will allow us to fuel our future growth. Our fiscal 2021 performance demonstrated the speed and magnitude of our turnaround. After reaching nearly 90% of pre-pandemic sales in fiscal 2021, we expect to surpass that volume in 2022 and shift to a new era of growth. There is no better indicator of the health of our brands than the gross margin improvement we have seen. We were 230 basis points higher than 2019, and this was our best performance in nearly five years. This improvement was driven by strength in full price sales, higher average unit retail prices, and improved leverage of store occupancy costs. This was despite increases in raw materials and freight costs. We also have taken significant cost out of the business and are now operating a shared platform that has created synergies. Last year's SG&A was 200 basis points below 2019 and almost 700 basis points below 2020. Our cash flow and profitability rebounded substantially in the midst of the ongoing pandemic and supply chain headwinds. The end result has been the restoration of EPS and EPS growth, which we are confident we can continue to deliver going forward. All three of our brands are contributing to our profitability and growth. From an overall structural and economic standpoint, our brands are very similar, and we deliver value as one company leveraging a shared platform. That said, there are some differences we are able to highlight for last year that showcase the power of the three brands together. Soma skewed slightly higher than the apparel brands on gross margin. Although White House Black Market did have the highest merchandise margin last year. Soma also had the highest operating margin, which, over the long term, will be accretive to the P&L as we grow that brand to its full potential. Chico's, our largest brand, contributed the most EBITDA to consolidated results last year and is expected to be the largest cash generator in the portfolio for the next few years. You can see that Chico's has the highest percentage of the company stores, while Soma's digital penetration was the highest at 50%. This highlights the upside we see at the two apparel brands as store productivity improves and drives higher digital sales in markets where we have a physical presence. All brands had stellar customer growth last year, with Soma leading the way at 24% and both apparel brands seeing strong double-digit growth. All three brands realized double-digit growth in average annual spend. With all three brands performing, we now see a clear path to delivering growth and shareholder return through 2024 and beyond. Our sales target for fiscal 2024 is just over $2.5 billion, which translates into approximately a 12.5% compound annual growth rate. Of that, we expect digital sales will represent over $1 billion, a key milestone and proof point that our digital platform is powerful and fueling growth in all three brands. We are targeting a consolidated gross margin of 40%, a level not achieved in almost 10 years for Chico's, but one that we believe is attainable through continued inventory discipline, scale, and higher average unit retail. We expect gross margin expansion and SG&A leverage to get us to a 7.5% operating margin, which is more than double last year's operating margin. We expect sales growth combined with gross margin expansion to deliver a minimum target of 15% EPS growth annually. We expect to generate close to $400 million of cumulative cash flow from operations over the next three years, giving us the flexibility to invest, maintain a strong balance sheet, and return excess cash to shareholders. Delivering on this financial plan will allow us to target both top-tier total EPS growth and shareholder return in excess of 15% per year. Drilling into the brands shows that each makes a meaningful contribution to consolidated results. We believe Chico's will grow in the low to mid-teens as it reaches and then surpasses its historic volume with both its loyal customers and by adding new customers as they are introduced to this iconic brand. White House Black Market is positioned to grow by mid to high single digits as we focus on building an even stronger digital business and enhancing store productivity to offset a lower store count. We believe Soma will grow in the low to mid-teen range as it continues its uninterrupted path to $1 billion in sales through product innovation, new stores, and digital expansion. To reach over $2.5 billion in sales, we expect strong growth out of both our e-commerce and store channels. We expect our digital sales will exceed the a billion-dollar mark by 2024. Our stores will not only deliver significant growth, but we believe will also drive digital sales since we know that in markets where we have stores, digital sales are much higher. During 2020 and 2021, we saw significant channel shift to e-commerce as a result of the pandemic, which was testament to the solid foundation we have in digital. In the back half of 2021 and heading into 2022, we have seen a rapid return in store traffic. We expect out-of-store sales growth to continue over the next 12 months-24 months and forecast digital penetration to remain in the low 40% range over that time period. In the outer years, we believe digital sales will once again outpace store sales growth and account for a higher percentage of total revenue. We are targeting 330 basis points of additional gross margin expansion by 2024. Although there are continued headwinds related to raw material costs and freight, we believe we can more than offset these with continued inventory discipline, scale, occupancy leverage, and strategic price increases, which will maintain higher average unit retails. We expect to more than double our operating margin to 7.5% by fiscal 2024 through gross margin expansion and expense leverage driven by labor productivity, marketing efficiencies, and continued expense discipline. We are targeting over $400 million of cumulative cash flow from operations over the next three years, driven by higher margins, improved inventory management, and ongoing cost management. We expect our balance sheet and cash flow to continue to strengthen, providing us with the flexibility to manage the business day to day and also make proactive investments to propel our growth under strategies that are working. Our capital allocation priorities are to maintain strong liquidity, continuing to navigate this macro environment, invest in our brands and shared platform to fuel growth, manage our balance sheet to minimize financial risk, and enhance investor returns through share repurchases. I'd like to provide a little more color on the capital investments we will make over the next three years. We have underinvested as a company the last several years, and although we have made great strides starting in 2019, sustained growth of all three brands will require additional investment. Going forward, our annual targeted capital spend will be about 3.5% of sales allocated roughly equally across digital, stores, and infrastructure. Our investments will support growth in all three areas and across all three brands. We are making key investments in the digital area, strengthening our customer data platform, website user experience, and order management system. On the storefront, we are adding to our Soma portfolio and upgrading our most productive stores across all our brands to drive sales per square foo and fuel our growth across all channels, including digital. We are adding meaningful capacity to meet growing demand in our supply chain and infrastructure. We are seeing the positive impact from small investments we are making. We have proof points that our strategy is working. We are even more excited about these high-returning projects that we are getting behind. All these investments will be measured with KPIs focused on customer traffic, conversion, acquisition, retention, and customer experience. It is important to note that all investments will have an impact across our store, social, and digital commerce platforms, given how interconnected our channels are today. We will continue to optimize our real estate portfolio. Prudent store growth makes sense where the investment delivers profitable returns. We plan to open over 100 Soma stores over the next few years. At the same time, we continue to rationalize and tighten our real estate portfolio for higher profitability standards. We will continue to close underperforming Chico's and White House Black Market stores. This still remains a fluid process, depending on sales performance and lease negotiations. To date, we have negotiated over $85 million of rent savings at a time when stores are generating more sales per square foot. Resulting in fewer store closures than originally expected. Net net, we expect our store base will increase slightly as we focus more on store productivity and driving our digital business, which carries a higher operating margin. Going forward, we will continue to cultivate our fleet by actively managing locations and formats in markets where we wanna be. We are also migrating our portfolio from enclosed malls to open air lifestyle centers, where we typically see higher traffic and sales. We have already shifted from 40% mall base to less than a 1/3, and will target 25% or less by fiscal 2024. Stores continue to be an integral part of our overall strategy, as data indicates that digital sales are higher in markets where we have a strong retail presence. It's also important to note that stores are increasingly important to our customers as they drive brand awareness, serve as product showrooms, community hubs, and distribution and return centers. The point is that our investments in our stores are investments in our multi-channel platform, and we will continue to make those investments going forward. I wanna close by just reinforcing the power of our new platform and operating model that has allowed us to turn around the company in short order, and that will permit us to continue our momentum going forward. We are customer-led and operate with the sole mission of delivering products that give her confidence and joy and are available when, where, and how she wants to engage with us. Our customer growth and increase in spend per customer over the prior year indicate our customers are highly engaged. We are product obsessed and are delivering unique, innovative, premium product. Significant improvements in our gross margin rate and average unit retail are key indicators. You heard from Jay, our Chief Digital Officer, who conveyed our continued transformation to a digital-first company. Our digital penetration has risen 12 percentage points in just two years. We will continue to leverage technology to engage and deliver across channels, brands, and our shared service platform that includes sourcing, marketing, and supply chain. We will continuously strive for operational excellence, managing costs, leveraging investments, and delivering a strong bottom line. Delivering significant SG&A leverage and over $120 million in EBITDA last year demonstrate we are on track. Just to reiterate, we are aiming to deliver best-in-class total shareholder return going forward. Through sales growth, margin expansion, and expense leverage, we will target a 15% annual total shareholder return with additional upside from share repurchases, and should the market dictate, possible multiple expansion to match our growth story and the new trajectory of our iconic brand portfolio. Thank you again for letting us share our story with you. We'll now take a brief two-minute break before we begin our Q&A session. Welcome back. We are now ready to begin our live Q&A session. As a reminder, you may continue to ask questions through the chat function in your viewer portal. Our first question is for Molly. Molly, can you give some color on what gives you confidence by brand in the teens growth that you are expecting over the next three years? What's your confidence in Chico's getting back to historical levels? Then also, how much of the growth will be driven by units versus AUR? Absolutely. Well, the first thing is that we are confident in our growth, and we're confident that each brand is growing and has the opportunity to capture the growing and lucrative consumer segment that we serve. We have the right team, we've course-corrected the product, and we've built franchises to fuel new customers, and we have layered on fashion to capture a larger share of wallet. Specifically, when you talk about Chico's and the brand growth, what gives me confidence about the Chico's growth is two things. The first is that Chico's grew 160 basis points faster than the specialty store market last year in specific categories like knit shirts, pants and jeans, and woven shirts grew faster than the market. Chico's is competitively positioned to continue to grow faster than the market and take more share of the big $63 billion women's apparel market. Specifically, if you tick down a little deeper about the demographics, the demographics are in our favor. Chico's is the number one brand in market share among consumers aged 45 years-64 years, with household income over $75,000, compared to other specialty stores. Baby boomers, from the NPD data that we know, currently represent the Chico's largest group in our internal data, as well as we know that that group is spending more than any other apparel group. That is what gives us confidence. In regards to the second question about AUR, we plan to make sure that we keep our business positioned to not be promotional. Through our innovation in product and solutions and our fabric-first approach to design, customers will continue to build their closets because we're gonna offer them something new. Continued growth in our proprietary tools, also such as Style Connect and My Closet, will help her build her basket and her wardrobe and expand AUR. Okay, PJ, this next question is for you. In terms of the gross margin drivers, can you bucket by magnitude the drivers for both the positive and negative impacts? Sure. First, I'd like to just mention that our three-year plan, it was created through a rigorous strategic planning process we ran the last several months across the company. All our internal teams worked together, and we leveraged customer and market data along the way. We have collective insight, ownership, and alignment across the organization. This is very powerful and gives us a very high degree of confidence. Our plan also has each brand making a major contribution to overall performance. With that as context, on the gross margin, we do expect to attain 40% by 2024. We believe this is feasible even with ongoing supply chain headwinds. The biggest drivers of improvement going forward, which we do believe are fundamental shifts, are greater scale, higher AUR from far less promotional activity, which is a direct result of elevated quality, innovation in our assortments. Continued inventory management, we will focus on faster turns and higher profitability, and also occupancy leverage as a result of rent adjustments and improving store productivity, which we estimate will account for roughly over 1/2 or about 1/2 of the gross margin improvement. As far as the sustainability of the 40% margin, we believe as long as we continue to innovate, price for innovation, gain scale with our vendors and remain focused on store productivity to leverage occupancy, we can hold or exceed that 40% gross margin rate. Okay, Molly, the next question is for you. Can you talk about store growth versus comp growth for Soma, given you will be opening stores for the brand over the next three years? For Chico's and White House, can you talk about how the store closure will impact your growth expectations? First, let's break down the Soma growth, getting from the $478 million that we did last year to the $680 million-plus target to getting us to $1 billion. You know, Soma continues to take market share and is growing faster in non-sport bras and sleepwear and panties and is in a strong position to capitalize on that $24 billion intimate market. Last year, when you look at the 1 million new customers that we had, they came from older millennials, Gen X, boomers, and they are giving us a competitive advantage in the future. When I look at specifically customers that are over 35+ and they have a household income of $100,000, we are tied for the number two positioning behind the market leader in the specialty and department store segment. This is what gives us confidence because we see growth in both the digital channel and the store channel. In terms of getting at that growth, we find that as we represented in the presentation today, that when we have density in stores, we have a larger penetration of digital, and as we add new stores, we know statistically that we will grow both digital and stores at the same time. The question in regards to Chico's and White House Black Market again? Okay. For Chico's and White House, can you talk a little bit about the potential downside of store closings? Absolutely. The great thing is that we've actually been improving our store productivity, which actually is the goal, is that we can continue to improve productivity by store. We've closed less stores than we had originally planned, mostly in the Chico's and the White House Black Market area, and we continue to scrutinize each one of the stores before we make any decisions. We continue to see momentum. The customers are coming back to our stores. We are finding that all of our assortment changes that we've made are increasing our AUR and increasing our sales per square foot. We have, in specifically in the White House Black Market brand, you will see more of an impact, and you'll see that in the targets as we grow from $516 million- $620 million. It has the lower of the two brands' CAGR, and that's because it has a greater impact of store closures. Okay, PJ, the next question is for you. Can you please provide some color, a bridge to 7.5% operating margin targets? Sure. The majority of that margin expansion will come from gross margin, so roughly 330 basis points of it, with the balance coming from SG&A leverage, where we believe the investments we're making will, you know, pay off over time and drive top line. Roughly the difference, the 380 basis points, mostly gross margin, but in part modest expansion or modest SG&A leverage. Okay. Molly, back to you. How much is the return to office from a customer perspective playing into sales trends? Well, first of all, I would talk about product and how we think that's impacting our sales trends. What we're seeing in the way that we've retooled the product, and I'm gonna talk in apparel brands specifically, that we have added fit and ease components into each one of our brands' franchises that we've launched in the last six months. For example, I'm actually wearing one of our jackets, and it has stretch and ease in it, and it makes it comfortable so that when you're wearing it and whether you've returned to office and you're wearing it with a pair of dress pants or you're also wearing it with jeans and potentially a T-shirt and tank top for the weekend or on days that you might be working from home, that the product supports how she wants to live, whether she's returned to office or whether she is sometimes returning to the office. We believe that this is a competitive advantage, that we're thinking about how she lives and how she wants to be able to work. The most important thing is that she wants to be comfortable. Not only does it include just our apparel brands, but it also includes our intimates brands, and that everyone wants to feel comfortable. I'm gonna tell you, the most comfortable thing is to try our strapless bra. Every woman out there knows that a strapless bra is not comfortable, and we have a comfortable strapless bra. Okay. This next question is for you. The Great Resignation has gotten significant media coverage this past year. How has Chico's been impacted, and how are you managing through the record number of workers who quit their jobs? Thank you for the question. Before I answer, I wanna emphasize we are focused on talent and culture, retention and attraction of top talent and cultivating a culture shaped by our values with the customer at the center of our decisions. Now, with regard to the Great Resignation, it's had an impact on many companies, and we can see through our labor statistics that in 2021, more employees quit their job at a higher rate than any point in several decades. In regard to our organization, I'd like to share two points. First, our overall turnover rate did not increase from 2019- 2021. Second, we're fortunate. We have an active organization that refers people in their networks. Last year, for key leadership positions, 90% of the candidates came from internal recommendations. This speaks to the confidence in the organization when associates actually invite others in to work with us on our journey. Okay, Jay, now we're over to you. You don't talk about supply chain in the presentation. Is there a three-year supply chain strategy? Hi, thank you for the question. We do have a three-year supply chain strategy, and it covers manufacturing, logistics, and fulfillment. First on manufacturing. We currently manufacture in various countries and numerous factories. Our plan is continued country, factory, and hemisphere diversification to protect against any type of headwinds. Secondly, on the logistics front, we're continually working to de-risk logistics in a volatile world, including balancing east and west entry ports, improving our inventory transparency and predictability, and diversifying our carrier footprint. Lastly, on fulfillment and distribution, our capital plan includes modest investments in our current distribution centers to improve throughput and likely expansion west to balance our product entry strategy and to get closer to the customer and closer to the stores while reducing the number of times we need to touch our own inventory. PJ, you're projecting the company will generate $400 million of cash from operations over the next three years. How will those funds be utilized by the business or returned to the shareholders? Sure. Thanks for that question. You know, first off, all three brands are contributing to our cash flow in our plan. We're gonna follow our capital allocation waterfall, so we plan to invest just over $200 million of that back into the business to grow the top line and execute on our plan. We plan to pay down roughly $100 million of debt that's still outstanding on our revolving credit facility. That would leave us around $100 million plus our current cash to maintain as liquidity or and/or to give back to shareholders via share repurchase. We do currently have approximately $55 million of remaining share repurchase authorization, which has no expiration date. But share repurchase would be our preferred method of returning cash to shareholders. All right, Jay, this next question is for you. What are the milestone benefits that you expect from the modular composable tech stack? Thank you for the question. Again, to reiterate the end game of having a modular tech stack is the performance of the online and digital stores with AOV and conversion and other post-sale items that such as for same-day delivery in store, BOPIS. In the short term, we have two phases I'll talk about for just a second. First, we're replacing our distributed order management system and our inventory system. We've signed a strategic relationship with Fabric Inc. They're a fast-growing new modular e-commerce platform. The short-term ROI on that is simply on the total cost of ownership. It's gonna be less expensive for us to operate it because it's collapsing multiple systems into one, and then the longer-term ROI on that is the ability to, again, pivot to all the different post-sale functions around customer service and delivery. The second component, the second step that we've taken is around customer service, and we're putting a new customer service tool in that will interact with this order management system. The short-term ROI on that is we're gonna be shaving a minute or more off of each and every customer call. The longer-term benefit will be to actually reduce the number of calls through digitization and automation of our customers, eliminating the need to call in in the first place. Great. Molly, we're gonna stay with you. Do you think your brands will benefit from the migration of households to the suburbs and to warmer markets such as Florida? Well, we already have a huge penetration in the Sun Belt, in particular in Chico's, a little less in Soma and a little less in White House Black Market. We have definitely seen a shift in the population, not only because we actually happen to live in Fort Myers, and we can see it for ourselves, but we can certainly see from our snowbirds that have come and people that are staying a lot longer. We will continue to build product that services different climates. It's part of our localization strategy and how we build product for different climates in all three of our brands. We continue to be able to think that, I'll give you an example. When we do pop-ups or when we have done shop-in-shops inside Chico's and Soma, we definitely see that where we have brand recognition, we can grow both the urban and the suburban market equally. It's about representation and recognition of the brand in that market to be able to continue to see it grow. I think there is some shift in the population that might be to our benefit just based upon where we built stores originally, but I also feel that we've tested some things that continue to be able to support growth in the urban markets as well, and that is in particular in digital. PJ, this next question is for you. When will the dividend be restored? Yeah. You know, as I mentioned, we have a balanced capital allocation policy. Our current priorities are to maintain strong liquidity to fund the business, cover any unforeseen needs, to make investments that drive growth in our brands and strengthen our shared platform, and repay debt and maintain a strong balance sheet. To the extent we do have excess cash, we expect to prioritize returning it to shareholders in the form of share repurchase rather than through the reinstatement of a regular dividend. Share repurchases offer us more flexibility and avoids a capital outflow that would be better served in a higher returning reinvestment in growth. Okay, Molly, this next question is for you. Near and long term, please update us on the current environment in regards to price increases, recovery post-Omicron, and inventory, and are you seeing social occasion continued recovery in your brands? Yes. Thank you for the question. I'm gonna answer this in talking about market share, as it gets to pricing and sort of what we're seeing and how we're doing some pricing, 'cause I think it helps kind of frame up why we believe that in this environment that we can grow, as we have demonstrated. The first is that if I look at Chico's and I look at specifically that 50% of Chico's customers make over $100,000, and if I just look at the customer that shops in our frontline and not our outlet stores, that number grows to 53%. If I isolate customers that are 45+, which pulls in the Gen X and the Boomer in the specialty store and the department store channels, and if I slice this by market, you can see that Chico's owns 35% of the $70,000+ and 20% of the $100,000+ market. What we believe is that this spread indicates that there's an opportunity for us to continue to push AUR and grab additional market share from this covetable and growing market, and we are doing that. All the new franchises that we have launched have more quality and product and aesthetic and solutions in them, and they have a higher ticket because they are worth it, and we're seeing that our customer is spending on it. If I look at Soma. Excuse me. If I look at White House Black Market, we see that 65% of the White House Black Market customer makes over a $100,000. If I do the same thing, isolating that 45+, capturing the Gen X and the Boomer in the specialty store and department store channels, slicing that by income, White House captures 36% of the $70,000+ and 30% of the $100,000+ market. The same thing here. The new franchises that we've launched in the last several months, new knit fabrications that have stretch and new fabrications in our jackets, we see that our customer is responding to them, and they are at a higher ticket because they have more value packed in them, not because we're charging customers for. She's recognizing that we have better quality product, and the AUR is commensurate and growing with it. Lastly, in Soma, at 58% of our customers making over $100,000, and because we have a broader audience for this consumer, if we isolate the 35+ consumer capturing the older millennials, Gen X to boomers at over $100,000, the specialty store and department store channels combined, Soma is equal in size to the number one department store competitor, and we continue to chase the largest specialty store share. We feel this is important because we can isolate our assortments like our new Bodify bra, which retails for $68, which has patent-pending technology that's in it, that we can laser focus on this growing segment of consumers and grow basically how we've laid out for the next three years. Okay, Molly, we're gonna stay with you for the last question of the session. You mentioned that 70% of the company's customers use stylists. Do these stylists get paid more? Are there incentives? How does the stylist job differ from an in-store associate? Our in-store associates are our stylists, and they are our full-time associates, that are with us and with the brand. We are proud about our tenure of those stylists, anywhere from two years-five years, depending upon the brand. These are brand people that just love the brand. We've done many things over the years to be able to incent them. Recently, we increased the hourly wage, for these individuals because it was the right thing to do. We have set goals for each one of our stores to be able to achieve. We also look at our tools like Style Connect and My Closet as engagement tools, and we give incentives to the teams to be able to manage that relationship, which is so incredibly key. Okay, everyone. That looks like the end of the questions. I'll turn the conference back over to Molly. Thank you so much. Our fiscal 2021 results and momentum indicate that our strategy is working. We have created a strong foundation for success and believe we are competitively positioned for tremendous growth as we have outlined today. We are incredibly energized about the future of Chico's FAS, and we hope you will stay connected with us as our story unfolds. Thank you for your time, and we look forward to speaking with you on our Q1 earnings call.