Report: Former Gottschalks CEO to launch new retail chain
Fresno, Calif. Joe Levy, former chairman and CEO of Gottschalks, said Monday that he has formed a new company with the intention of launching a new retail chain run by executives of the former Gottschalk organization, The Modesto Bee reported.
The new company, called Gottschalk by Joe Levy Inc., will try to leverage the familiarity with the Gottschalks name, according to the report
“The object here is to bring the public what Gottschalks used to be,” Levy said. “We want to provide good customer service, high-quality fashions and merchandise at a very competitive price. Since Gottschalks closed, there’s a large void in that type of merchandising.”
The Gottschalks chain filed for bankruptcy in January 2009, and the last of its 58 stores closed during the summer.
Levy, 78, has not yet revealed how many stores he’s planning, where they would open or when.
Robert Wiser, a former VP and general merchandise manager for the old Gottschalks, is the CEO of the new company, the newspaper reported. Robert Lawson, a former CFO for Gottschalks through the early 1990s, and who was terminated in 1992 under accusations of tax fraud, will fill the CFO role with Levy’s new effort.
The new company will be privately owned.
RadioShack sales, income up for Q1
FORT WORTH, Texas RadioShack reported that total net sales and operating revenues for the 2010 first quarter increased 4% to $1.04 billion, compared with $1 billion for the 2009 first quarter. Net income for the first quarter increased 16.2% to $50.1 million, or 39 cents per diluted share, compared with net income of $43.1 million, or 34 cents per diluted share, reported for the same period last year. Comparable-store sales for company-operated stores and kiosks increased 4.7% during the 2010 first quarter, compared with the 2009 first quarter.
The 4.7% increase in comparable-store sales for company-operated stores and kiosks during the 2010 first quarter was driven by higher Sprint Nextel postpaid wireless sales, the addition of T-Mobile as a third postpaid wireless carrier in company-operated stores, and higher sales of prepaid wireless handsets and airtime, the company reported.
“Our performance this quarter highlights the success of our strategy to increase our focus on mobility, connectivity, and innovative products and services, while continuing our progress in brand building and delivering a consistent, high-quality, customer experience,” said Julian Day, chairman and chief executive officer. “We are pleased with our progress and the growth and improvement opportunities ahead for The Shack.”
Children’s Place names new executives
SECAUCUS, N.J. The Children’s Place Retail Stores has announced the appointment of Natalie Levy as SVP merchandising; Barrie Scardina as SVP planning and allocation; Dina Sweeney as SVP outlets; and Larry McClure as SVP human resources. The four executives will report directly to Jane Elfers, president and CEO.
Levy will join the company on May 3. Most recently, she held the position of SVP general merchandise manager for Ann Taylor. Prior to that, she spent seven years with Lord & Taylor in positions of increasing responsibility culminating in her appointment as SVP general merchandise manager for proprietary brands where she had overall responsibility for merchandising, design and sourcing for the women’s sportswear, accessories, men’s and children’s departments. Earlier in her career, she held merchandising positions with Caldor, Mervyn’s and Macy’s.
Scardina will join the company on May 10. She previously held the position of VP retail operations at Liz Claiborne. In that role, she had responsibility for planning and allocation, supply chain, retail marketing and store operations for partnered brands. Prior to Liz Claiborne, she held the position of VP planning, distribution and business development at Polo Ralph Lauren. Earlier in her career she held positions with Gucci and Footstar.
Sweeney, previously SVP merchandising and a 26-year veteran of The Children’s Place, will take on the newly created position of SVP outlets. She will be responsible for developing and executing a new merchandising strategy to drive sales and profits for the company’s 129 outlet stores. Sweeney joined The Children’s Place in 1984 and, after holding positions of increasing responsibility in merchandising, she led the company’s successful expansion into Canada in 2003. She also took over responsibility for the company’s rapidly-growing e-commerce business in 2006.
McClure joined the company on March 8. He previously served as SVP human resources at Liz Claiborne where he helped establish a global human resources presence within a diverse set of brands. Prior to that, he held senior human resources leadership roles with The Dexter Corp., Aetna and United Technologies.