Content about CFO

July 1, 2014

Signet Jewelers Ltd. on Tuesday announced that Theo Killion, CEO and president of its newly acquired Zale division, has resigned, effective July 31.

July 1, 2014

Chain Store Age recently spoke with Alison Paul, vice chairman, Deloitte LLP and retail and distribution leader, about the expanding role of the CFO in retail organizations:

June 30, 2014

Tile Shop Holdings announced the appointment of Kirk Geadelmann as its new CFO.

June 27, 2014

Chico's FAS announced that it has appointed Todd E. Vogensen as senior VP, CFO, replacing Pamela Knous, who has left the organization to pursue other interests.

June 27, 2014

Chico's FAS announced that it has appointed Todd E. Vogensen as senior VP, CFO, replacing Pamela Knous, who has left the organization to pursue other interests.

June 24, 2014

More strategic. That’s how Greg Esgar, CFO of Massage Envy Spa, the nation’s largest therapeutic massage chain, sums up the evolving role of today’s CFO. Esgar joined the Scottsdale, Arizona-based business as financial chief in 2004, two years after it was founded. As part of the executive team, he helped spur the company’s growth from 17 locations to its present total of nearly 1,000 sites in 49 states. With its membership-based, monthly-fee business model, Massage Envy Spa eschews the luxury amenities and high prices of traditional day spas.

June 24, 2014

More strategic. That’s how Greg Esgar, CFO of Massage Envy Spa, the nation’s largest therapeutic massage chain, sums up the evolving role of today’s CFO. Esgar joined the Scottsdale, Arizona-based business as financial chief in 2004, two years after it was founded. As part of the executive team, he helped spur the company’s growth from 17 locations to its present total of nearly 1,000 sites in 49 states. With its membership-based, monthly-fee business model, Massage Envy Spa eschews the luxury amenities and high prices of traditional day spas.

June 24, 2014

Simon Property Group has announced that Andrew Juster, a 25-year Simon veteran, will move up to the post of CFO in early 2015, succeeding retiring CFO Stephen E. Sterrett.

June 24, 2014

Simon Property Group has announced that Andrew Juster, a 25-year Simon veteran, will move up to the post of CFO in early 2015, succeeding retiring CFO Stephen E. Sterrett.

June 24, 2014

As the key cog in the wheel of a retail chain’s financial structure, today’s retail CFOs find themselves caught in the crosshairs of senior management and stakeholders demanding maximum profit and measurable growth amid increased consolidation and tightened revenues.

But that’s nothing new. Financial chiefs have always had to balance profit and loss with expansion strategies. What has changed is that a whole host of added responsibilities has now entered the mix.

June 24, 2014

As the key cog in the wheel of a retail chain’s financial structure, today’s retail CFOs find themselves caught in the crosshairs of senior management and stakeholders demanding maximum profit and measurable growth amid increased consolidation and tightened revenues.

But that’s nothing new. Financial chiefs have always had to balance profit and loss with expansion strategies. What has changed is that a whole host of added responsibilities has now entered the mix.

June 24, 2014

▲ Cloud computing, the remote hosting of applications on virtual platforms for on-demand, Web-based delivery, is on the fast track. Analysts estimate that during the next six years, 90% of new spending on Internet and communications technologies will be on cloud-based technologies.

June 24, 2014

▲Construction and construction costs are not an exact science: Information derived from data may be predicable; people are not.

▲ The process takes time: Construction encompasses more that just the time it takes to physically build a store. It also involves the lease-negotiating phase, drawing phases, permit phase and bidding phase.

June 24, 2014

▲ Data breaches are on the rise: Mounting an attack on retail systems has become increasingly attractive to attackers because malware can be delivered at very low cost, according to Mark Bower, VP product management and solutions, Voltage Security, a Cupertino, California, provider of data-centric encryption and tokenization.

“So it becomes very attractive to attackers to try and steal credit card and personal data they can monetize very quickly,” he added.

June 24, 2014

▲ Investing in energy conservation makes business sense: According to ASHRAE, energy is the second highest retailer operating expense. A new white paper by the Retail Leaders Industry Association (RILA) and Schneider Electric notes that recent weather extremes have increased energy costs for retailers, and the trend is expected to continue. Factor in potential electricity price increases in the near future, and increases in energy costs could be significant.

June 24, 2014

▲ Customer experience: Poorly maintained stores cost sales and dilute the brand and customer experience. Not giving facilities the funding required to keep stores clean and in good condition will impact the bottom line in that customers will shop elsewhere. Today, more than ever, shoppers have high expectations regarding the look and feel of a store, and they also have many more options from which to choose. Dirty restrooms, stained flooring, burned-out lights, poor air conditioning and the like are proven customer turn-offs.

June 24, 2014

▲ Understand the assets covered by your leases: Taken together, leases are more than just one of a chain’s largest costs — they are the largest fixed expense, and they are fixed for the long term. As a rule, individual leases average seven to 10 years.

“Understanding that is critical,” said Michael P. Glimcher, chairman and CEO, Glimcher Realty Trust, Columbus, Ohio. “For a cost so large, you should have a strong knowledge about the assets covered by your leases.”

June 20, 2014

Toys “R” Us, Inc. announced that it has named Michael J. Short executive CFO, effective June 23.

June 19, 2014

Alco Stores Inc. reported a net loss of $8.1 million in the first quarter of its fiscal year, up from a loss of $1.7 million in the year-ago period, amid an elimination of a tax benefit.

June 19, 2014

Apparel retailer American Apparel Inc. has fired its controversial founder Dov Charney as chairman, effective immediately, and has moved to fire him as CEO and president.

June 13, 2014

Michael M. Nuzzo, executive VP and CFO of GNC Holdings Inc., is resigning in order to accept an executive position at an unspecified private equity-funded consumer products company.

June 13, 2014

Michael M. Nuzzo, executive VP and CFO of GNC Holdings Inc., is resigning in order to accept an executive position at an unspecified private equity-funded consumer products company.

June 12, 2014

Lululemon Athletica Inc.'s first-quarter net income plunged 60%, impacted by a one-time tax adjustment. Although its adjusted profit and revenue beat Wall Street's expectations for the quarter, the retailer lowered its full-year earnings forecast.

June 10, 2014

Rent-A-Center, Inc. has appointed two new senior executives. The company named Guy J. Constant as executive VP finance, CFO and treasurer, and Jody Diaz as senior VP HR and chief people officer, both effective June 16, 2014.

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