Apparel retailer Steve & Barry's has appointed ex-Macy's executive Harold "Hal" Kahn as the company's new CEO with immediate effect.

Kahn has 35 years' retail experience, and was chairman and CEO of Macy's East for ten years, before leaving in 2004 to launch a retail consulting business.

He also spent time as CEO of Abraham & Straus, president of Montgomery Ward, and CEO of Macy's South and Macy's West, having joined the retailer's training programme in 1970.

"I am thrilled about the opportunity to help lead Steve & Barry's, a retailer I believe offers a value proposition that's second to none in the marketplace," said Kahn.

"I'm looking forward to helping guide the company to ensure it reaches its full potential."

Steve & Barry's was purchased out of bankruptcy earlier this year by investment funds Bay Harbour Management and York Capital Management.

Douglas Teitelbaum, managing principal of Bay Harbour, said: "Hiring an extraordinary retail pro to lead Steve & Barry's was our top priority in the strategic business plan we put together for getting the company on track to meet our profitability goals over the long term."