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Charming Shoppes Announces Management Appointments; Ceases Sale Of Figi's Food Business - Update

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
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Monday. Charming Shoppes, Inc. (CHRS), an apparel retailer, changes to its management with the appointment of Anthony Romano as Executive Vice President - Global Sourcing and Business Transformation, effective immediately. The company also said it discontinued its earlier decision to sell Figi's Gifts in Good Taste catalog business.

Charming Shoppes said it discontinued its exploration of the sale of Figi's Gifts in Good Taste catalog business, based in Wisconsin. The company in August 2008, initiated the sale process as a strategy to refocus the its energies on its core brands, but stated it would only enter into a transaction at an acceptable valuation, which has not been achieved.

Romano joined Charming Shoppes in February this year, with responsibility for executing the company's business transformation and cost reduction initiatives. His role has been expanded with additional responsibilities to include the important functions of global sourcing, distribution, logistics, quality control and quality assurance. Romano will continue to report to Jim Fogarty, President and Chief Executive Officer.

In 1997, Romano joined Ann Taylor, Inc. as Sr. Vice President of Logistics, and later assumed additional responsibility for Purchasing Operations. He served as Executive Vice President - Chief Supply Chain Officer of Ann Taylor from 2005 to 2008. From 1988 to 1996, Romano held a number of financial and operational roles at Charming Shoppes, Inc., and was appointed Vice President of International Operations.

The company said Bill Bass, who joined Charming Shoppes in January this year, has accepted the permanent role of President of Charming Direct division with responsibility for building the company's e-commerce businesses. Bass will continue to report to Jim Fogarty.

Michele Pascoe has joined the company as Division CFO - Vice President, Finance for the Fashion Bug brand while Brett Schneider has been appointed Division CFO - Vice President, Finance for the Catherines brand.

Joseph Long has been appointed Director, Finance for the outlet stores division while Jeffrey Liss has been appointed Vice President - Strategy, with responsibility for development and management of strategic activities,

CHRS is currently trading at $3.82, up $0.20 or 5.52% on a volume of 0.141 million shares on the Nasdaq.

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