President/CEO out at Charming Shoppes
Charming Shoppes Inc.'s president and CEO, Dorrit J. Bern has resigned effective immediately.
“Dorrit and the board agreed that now is the appropriate time for a change in leadership of the company,” said Alan Rosskamm, chairman of the board and interim CEO, in a statement.
LuAnn Via, president of the Lane Bryant brand, has also announced her resignation and will be leaving later this month. She is succeeded by Brian Woolf, the former chairman and CEO of Cache Inc.
Charming Shoppes is just one of several multichannel merchants having difficulties navigating this year's choppy economic waters. In April, the company said it is exploring operating and strategic alternatives for its non-core misses apparel catalog titles in order to provide a greater focus on its core brands, Lane Bryant, Catherines and Fashion Bug.
The catalog titles operated by Charming Shoppes' Crosstown Traders catalog division include Lane Bryant Woman, Old Pueblo Traders, Bedford Fair, Willow Ridge, Lew Magram, Brownstone Studio, Intimate Appeal, Monterey Bay Clothing Company, Coward Shoe and Figi's.
The company also said it would reduce capital spending by a total of $63 million this year, a decrease of nearly 50% compared to the previous fiscal year.