Chico's shares see green

Retail customers haven't been the only ones looking for deals at Chico's FAS.

The Fort Myers-based women's retailer saw its publicly traded shares jump 8.8% on April 8 after Bloomberg reported that Los Angeles-based private-equity firm Leonard Green Partners acquired 2.05 million shares of Chico's, or an amount equal to 1.3% of the retailer's outstanding stock.

Leonard Green owns stakes in other specialty retailers, including Sports Authority and J. Crew Group, Bloomberg reported. The firm's website says it seeks to invest in companies that can grow by at least 50% over five years. Leonard Green has raised more than $15 billion since it was founded in 1989.

Last year, another private-equity firm, Blue Harbour Group, acquired a 5.6% stake in Chico's. Blue Harbour, led by Kohlberg, Kravis & Roberts alumnus Clifton Robbins, seeks out undervalued companies that could create shareholder value by implementing strategic or financial change.

Some significant changes at Chico's have taken place since Blue Harbour acquired its stake. For example, Chico's raised its quarterly dividend by 36% and announced a $300 million share buyback in December.

Watch for more changes at the company that operates more than 1,400 stores under the brands Chico's, White House | Black Market, Soma Intimates and Boston Proper.