Limited Brands
This article was originally published in The Rose Sheet
Executive Summary
Bath & Body Works could potentially double its share of customer beauty spending from 14% to 28% as the retailer's brand vision becomes more clear, B&BW Exec VP, Chief Operating Officer Tom Fitzgerald states during 2006 Citigroup Retail Conference and Field Trip Feb. 9. "Over the next year or two, the vision of the brand as it translates through our store and our products will get more and more cohesive and more and more clear to our customers and our progress will accelerate again," exec says, acknowledging a disappointing performance during the holidays. B&BW hopes to introduce its first catalog this spring and "may experiment" with print advertising for destination brands, firm notes. Initiatives are part of its multi-channel, multi-brand, multi-format approach intended to double sales to roughly $5 bil. within eight years (1"The Rose Sheet" Nov. 14, 2005, p. 3). Separately, Limited Brands announces CFO V. Ann Hailey will transition to newly created role of exec VP, Corporate Development, effective this spring. Her successor will be named at or before that time, firm notes...
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Ken Stevens, currently CEO Express, will assume new role as exec VP and CFO, Limited Brands, effective June 12, company announces. Exec has served as president of Bath & Body Works. Stevens replaces Ann Hailey, who transitioned to the role as exec VP, corporate development in May (1"The Rose Sheet" Feb. 13, 2006, In Brief). Additionally, company notes Victoria's Secret is transforming to an integrated business structure, with one operating model for Victoria's Secret Stores, Victoria's Secret Beauty, Victoria's Secret Direct, Pink, Intimissimi, Sexy Sport and "all future concepts," Limited Brands says. The combined entity will be headed by Sharen Jester Turney, who will assume the CEO and president post from her former position overseeing Victoria's Secret Direct. Additionally, Christine Beauchamp has been tapped CEO and president of Victoria's Secret Beauty from her current role as president and general merchandise manager, firm says...
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