Wilansky takes helm at Retail Ventures
November 4, 2004,
COLUMBUS , Ohio — Retail Ventures Inc. has promoted Heywood Wilansky to president and CEO.
Wilansky was most recently president and CEO of the Filene's Basement subsidiary of RVI. Before coming to RVI, Wilansky was president and CEO of Bon-Ton Stores and president and CEO of two divisions of The May Department Stores Company. He previously held positions at Lord & Taylor and The Hecht Company.
In his new post, Wilansky said he plans to "re-examine our merchandising mix at Value City Department Stores with the goal of freshening the stores' consumer appeal" while furthering growth at DSW and Filene's Basement.
Other recent appointments are: Deborah Ferree, who has been promoted to president and chief merchandising officer of DSW from executive vice president and chief merchandising officer; Jerald Politzer, who has been promoted to president of the Value City Department Stores operations of RVI (replacing Stuart Glasser, who resigned) from executive vice president of merchandising for Filene's Basement; and Mark Shulman, who has been named president of Filene's Basement from chief operating officer of Retail Brand Alliance.
The board has not yet filled the position of chief operating officer of RVI but said it is still conducting a search. Jim McGrady, RVI's chief financial officer, will undertake operational responsibilities.
In other company news, RVI today announced it has revised its earnings estimate for the third quarter and fiscal 2004, projecting a loss of 3 to 5 cents per share.
"This guidance is down from the previous profit estimate of 11 to 15 cents," said Jim McGrady, chief financial officer. "The revised guidance for the quarter also impacts the estimate for the fiscal year, which is now anticipated to be a profit of 23 to 27 cents per share."
Previously, the company expected a profit in the range of 42 to 47 cents per share.
"The suggested guidance range for the year is very dependent upon the success of the important Christmas selling season, particularly if the company will generate the expected comparable store sales levels of 1 to 2 percent," he added.
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