Liz Clairborne narrows loss
New York City — Liz Claiborne narrowed its fourth-quarter loss as the company trimmed expenses. But it issued a lackluster outlook for its coming fiscal year.
The company said Thursday that it lost $30.1 million, compared with a loss of $41.7 million in the prior-year period.
Revenue dropped 7% to $703.7 million from $756.5 million, down mostly because of a transition in the licensing model under its J.C. Penney Co. and QVC deals.
Still, the results topped Wall Street’s $684.6 million
Revenue for its Lucky Brand fell 15.8%, while Kate Spade climbed 44.8% and Juicy Couture rose 15.9%. The international-based direct brands division posted a 4.6% revenue decline.
For the year, Liz Claiborne lost $251.5 million, compared with a loss of $305.7 million in the prior year.
Annual revenue slipped 14% to $2.5 billion from $2.92 billion.
Foot Locker names Questrom to board
New York City — Foot Locker said Thursday it has named Allen I. Questrom, along with Guillermo Marmol, to its board of directors, bringing the total number of directors to 11.
Questrom, the former chairman and CEO of J.C. Penney Co., Barneys New York and Federated Dept. Stores, now Macy’s, is currently a senior advisor to Lee Equity Partners.
Marmol is president of Marmol & Associates, and has a long background in information technology and systems.
A&P boosts merchandising, marketing team
MONTVALE, N.J. — Bankrupt grocer A&P, which just revealed plans to shutter 32 stores in six states, has bolstered its merchandising and marketing team with the appointment of six new executives.
A&P filed for bankruptcy in December 2010 and is in the midst of a turnaround aimed at reducing structural operating costs and enhancing value for shoppers. On Feb. 15, the company announced it is seeking court approval to close 32 stores by the end of the company’s fiscal first quarter.
The new executives are:
Marie Robinson, SVP of supply and logistics, who joins A&P from Smart & Final, where she served as SVP supply chain and logistics. She began her career as a U.S. Army logistics officer before moving into supply and logistics roles at Walmart and Toys "R" Us;
Nancy Gaddy, VP deli and bakery. Prior to joining A&P, she was VP deli, bakery and food service operations at Winn-Dixie. She has more than 23 years of experience in deli and bakery services through roles with increasing responsibility at Ahold and Ingles Markets;
Kevin Broe, VP own brands, who will lead the retailer’s own-brands initiatives. Prior to joining A&P, Broe was VP sales and merchandising of own brands at Supervalu. Earlier in his career, he held management positions at American Company Stores, Bruno’s, PetSmart, Cub Foods and Factory Card Outlet;
Harry Giglio, VP meat and seafood. Prior to joining A&P, Giglio was VP perishables for Weis Markets. He brings more than 30 years of corporate and field management experience in food retail through management positions at Stop & Shop and Shaw’s Supermarket;
Bob Weidner, VP customer experience and space management. In this role, Weidner will be responsible for revamping the customer’s in-store experience, including the merchandising sets and layouts. He has more than 30 years of retail experience, including management positions of increasing responsibility at Jewel Food Stores. Most recently, he served as SVP U.S. operations for Prism; and
Corey Pearson, VP pricing and analytics. Pearson will lead the development and implementation of pricing strategy and systems, as well as everyday pricing, including costs and deals. With more than 32 years of merchandising experience in food retail, Pearson has worked at a variety of companies, including Cub Foods and Biggs. Before joining A&P, Pearson was the director of merchandising execution for Supervalu.