Aeropostale Hires New CFO, Names Miller COO
Mall-based retailer Aeropostale has shifted Marc D. Miller, its chief financial officer since 2010, to the role of chief operating officer and hired former Delia’s executive David J. Dick as its new CFO.
“We are all enthusiastic about the appointment of Marc to chief operating officer,” said CEO Julian Geiger in a statement. “Marc has been an integral part of Aeropostale’s leadership team and a champion of our special culture throughout the last ten years. Marc will undoubtedly have a more profound impact on our organization in his new role, and we look forward to his positive contributions as we execute Aeropostale’s turnaround.”
Geiger added, “We are thrilled to have someone of David’s caliber join Aeropostale as chief financial officer. David’s extensive financial and retail experience will support and facilitate our corporate goals as we navigate through this important juncture in Aeropostale’s history. We expect a seamless transition as Marc assists David during his first few months at Aeropostale.”
Miller has been with the company since 2005 when he was hired as VP of strategic planning and new business development. As COO he will be responsible for supply chain management, real estate, construction, human resources and international licensing.
Dick was CFO at Delia’s from 2009 to 2014 (the young women’s retailer filed for bankruptcy protection in December). He has also worked as CFO for the restaurant group Charlie Brown’s Acquisitions Corp. and held executive finance positions at Linens ‘n Things.
The retailer, which operates 773 stores in 50 states, released some preliminary fourth-quarter figures today: net sales were down 11 percent to $594.5 million and expects Q4 income to be somewhere between a $2 million loss and a $2 million gain. This is a major improvement from the company’s previous guidance of a Q4 loss of between $18 million and $23 million.
“I am encouraged with the progress we are making and that we were able to deliver higher comparable sales and margins in January, which allowed us to exceed our updated guidance,” said Geiger. “With today’s announced executive appointments, we are returning to an organizational structure that existed when Aeropostale registered its most significant gains in sales and profitability. As a result of this progress and of the changes we are making, I believe we are better positioned to restore the luster of the Aeropostale brand and our overall financial results, as we continue to navigate through a challenging retail environment.”
Aeropostale has struggled for the last several years. It brought Geiger back as CEO in August – he had stepped down as CEO in 2010 and left his role as chairman in 2012.
