FINANCE

GNC Holdings profit soars in Q1

BY Katherine Boccaccio

Pittsburgh — GNC Holdings reported Wednesday that adjusted net income for the quarter ended March 31 surged 85% to $64.5 million, compared with $34.9 million a year earlier.

CEO Joe Fortunato attributed the results to double-digit retail same-store sales growth, a growth in proprietary new products and increased traffic.

Consolidated revenue for the quarter increased 23.4% to $624.3 million; same-store sales grew 15.8% in domestic company-owned stores (including GNC.com sales), and 18.4% in domestic franchise locations.

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FINANCE

The Children’s Place names new CFO

BY Staff Writer

Secaucus, N.J. — The Children’s Place Retail Stores announced Wednesday it has named Steven Baginski to the position of CFO, reporting to COO Eric Bauer.

Baginski spent eight years with Limited Brands, most recently as senior VP corporate finance.

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OPERATIONS

JoS. A. Bank names merchandise exec promotion

BY Staff Writer

Hampstead, Md. — JoS. A. Bank Clothiers said Wednesday that Frank J. Barbarino has been promoted to senior VP and general merchandise manager for the chain, effective April 15.

In his new role, Barbarino will continue to lead the Tailored Clothing Department and will add Sportswear and Furnishings to his responsibilities. He will oversee product design, manufacturing and sourcing, as well as all retailing of the company’s merchandise lines.

Barbarino was most recently VP for tailored clothing.

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