USA: Elder-Beerman Chairman, President And CEO To Retire
Mr Mershad, who has 36 years of experience in retail, has served as chairman of the board and chief executive officer of Elder-Beerman since December 1997. He came to Elder-Beerman as its president and chief executive officer in January 1997 from the Proffitt's division of Saks, Inc, where he served as its president and chief executive officer.
Steven C. Mason, chairman of the board's executive committee, said: "During Fred Mershad's tenure at Elder-Beerman he grew the chain from 48 department stores to its current 63 stores. He led the team that created the company's concept stores in 1999 and presided over the development of the company's new strategic plan. We will be sorry to see him go, and the board wishes him well."
Mr. Mershad said: "I am privileged to have worked with the outstanding team at Elder-Beerman. It is gratifying to see the progress made in implementation of the company's strategic plan that emphasises delivering quality fashionable merchandise at value prices, maintaining tight expense controls, and opening new concept stores.
"The Board and I are confident that this strategic plan continues to be right for Elder-Beerman. As we work to identify Elder-Beerman's new leader, the company will aggressively move forward. We are opening three new concept stores before the Christmas selling season, rolling out tools to help deliver our value merchandising proposition to the customer and we are tightly controlling expenses. Elder-Beerman is prepared to meet the retail industry's challenges and reap its rewards through its resolve to understand its customers and meet their needs."
Help test our new apparel sourcing tool.
For the past 20 years Wal-Mart has redefined the way most retailers and manufacturers across channels and categories have done business. Every apparel company has been affected thanks to the retail gi...
US retail group Saks Inc says it is carrying out a more intensive investigation than initially planned into vendor payments at its Saks Fifth Avenue division....
Steven Douglass, chairman and chief executive officer of family footwear retailer Payless ShoeSource Inc, leaving the company with Matthew Rubel due to take over his responsibilities as CEO....
US retailer Saks Inc, which last week announced the sacking of three senior executives in connection with illicit markdowns, is being sued by a former licensee for the Oscar de la Renta brand for impr...
Retail group Saks Incorporated has promoted Kevin Wills to the position of executive vice president of finance and chief accounting officer of the company....
Department store group Saks Inc has fired its chief accounting officer along with other top executives following an internal probe into illicit vendor payments. The investigation discovered that a tot...
The following is a general roundup of apparel and shoe chains' April sales results. The list will be updated as new results become available....
Footwear group Steven Madden Ltd has paid for its store expansions and compliance with tougher accounting rules with a dip in profit for the first quarter of 2005....
- What TTIP might mean for US, EU textiles & apparel
- Unlocks for the future fashion sourcing landscape
- EU eyes mandatory due diligence for apparel supply
- Geo-political uncertainty and how to survive it
- Where next for Corporate Human Rights Benchmark?
- US Q4 in brief – Finish Line, Oxford Industries
- Li & Fung forms supply chain partnership with PVH
- Sears has "substantial doubt" of future
- Vietnam limits hazardous chemicals in apparel
- World Bank commits $57bn to sub-Saharan Africa
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective