With repect you are missing a very valid point regardless of how much cash they have. 3 Years ago they had a niche market, slightly more upmarket, good quality and clothes for women from 25 to 45, particularly the more mature woman who wants to look younger(don't we all?)and doesn't mind paying for it by buying quality to go along with contemporary styling.They decided early last year to invest in cheaper fabrics and therfore have lower selling points and it shows. They have lost a loyal crowd and White House/ Black Market(owned by chico's who have done a tremendous job over the last 18 months) are eating their lunch. They also made a terrible mistake by going heavily into prints and gawdy dresses and it hasn't paid off. Unless they change in the Spring and revert back to their roots, they will continue to have a serious problem. jmho.
p.s. They might have cash, but they have lost some cache.