Lew Frankfort joins Sycamore Partners as executive in residence
New York — Former Coach Inc. chief Lew Frankfort has joined Sycamore Partners as an Executive in Residence, which will allow the private equity firm to tap into Frankfort’s retail knowledge, managerial expertise and network of industry relationships. Sycamore’s portfolio of retail investments includes Aeropostale, Coldwater Creek, Hot Topic, Jones New York, Nine West Holdings, Stuart Weitzman and Talbots.
"Lew Frankfort is a legend in the retail industry, with decades of experience building brand awareness, developing customer loyalty and driving global growth at Coach," said Stefan Kaluzny, a Managing Director of Sycamore Partners. "We are thrilled to have Lew join Sycamore Partners as an executive in residence and look forward to working closely with him as we continue to focus on building a portfolio of best-in-class consumer and retail brands."
Frankfort joined Coach in 1979 and served as chairman and CEO from November 1995 through December 2013. He then served as executive chairman until his retirement in November 2014.
Quiznos names restaurant vet as new president and CEO
Denver — Sandwich quick-serve chain Quizno’s has named Doug Pendergast as its new president and CEO, succeeding Stuart Mathis, who resigned the company.
Pendergast joins Quizno’s from The Krystal Co., where he was president and CEO; he also has held senior executive positions with Craftworks, Church’s Chicken and AFC Enterprises.
“This is a critical and exciting time for the brand,” said Pendergast. “Quiznos is operating under a new food cost and supply model that should improve restaurant economics and is in an excellent position to build customer loyalty and frequency."
Express finishes holiday strong; raises profit forecasts
Columbus, Ohio — Express is lifting its fourth-quarter and full-year profit forecasts, citing a better-than-expected performance at the end of December and beginning of January.
CEO Michael Weiss said that Express Inc. experienced slowing sales during the first three weeks of December, but that its performance has bounced back since.
Fourth-quarter same-store sales are now predicted to fall 3%-4%; Express previously forecast a mid to high single-digit decline in the figure.