US: Cache names Margolis CEO as Reinckens resigns
Women's wear retailer Cache has appointed Jay Margolis as its chairman and chief executive officer, replacing Thomas Reinckens who has stepped down.
Margolis most recently served as president and CEO at Limited Brands' apparel group. He previously held various positions at Reebok International, Esprit and Liz Claiborne, which has since changed its name to Fifth & Pacific Companies.
"Jay is a highly accomplished merchant with proven success in strengthening assortments, growing revenues, increasing store productivity and driving product sales in new channels, all of which is expected to position our company for sustained long term profitability and growth," said outgoing CEO Reinckens. "We are confident that Jay is the perfect choice for this important role."
In addition, Margolis will invest US$1m in newly issued shares of Cache in connection with the $8m rights offering announced by the company yesterday (6 February), which is subject to shareholder approval. The proceeds of the rights offering will be used to provide enhanced liquidity to Cache, the company said.
Separately, the retailer expects to post a fourth-quarter pre-tax loss of $4.8-$5.1m, compared to a pre-tax profit of $2.4m the year before. Sales are expected to fall 3.3% to $60.8m, while comparable store sales are seen edging down 0.7%.
Given their rapid evolution over recent years, it is difficult to predict where ERP and PLM will be a few years from now. Increased compatibility, cloud-based systems, social media mining, and on-dema...
This report analyzes the worldwide markets for Sports and Fitness Clothing in US$ Million by the following Product Segments: Sports Apparel, and Fitness Clothing. The report provides separate comprehe...
Women's wear retailer Cache has appointed Anthony DiPippa as its new chief financial officer and executive vice president, replacing Margaret Feeney who has resigned from the company....
Limited Brands (now operating under a new temporary name L Brands) has lifted its full-year earnings guidance after posting a 14.4% increase in first-quarter net profit....
- Improved supplier capabilities benefit Next
- Next H1: What the analysts say
- China and Vietnam lead US apparel imports in July
- THE FLANARANT: Understand win-win or lose out
- Abercrombie & Fitch to lose logos in fashion focus
- Hanesbrands axes Costa Rican jobs in Vietnam move
- Brandix selects first "game-changing" innovations
- VF taps Nike exec to lead innovation centres
- Apparel fuels global manufacturing downturn
- Bagir to invest in Ethiopia as H1 loss deepens
- Wool in the 21st Century: new prospects for a familiar fibre
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Global market review of denim and jeanswear – forecasts to 2020
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Global Database of the Top 1000 Cut and Sew Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details