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RTW Retailwinds makes organisational changes

Dec '18
Courtesy: New York & Company Inc
Courtesy: New York & Company Inc
RTW Retailwinds, an omni-channel specialty apparel retail platform for powerful celebrity and consumer brands, has made some organisational changes. President and chief operating officer John Worthington is leaving the company, while Sheamus Toal has been promoted to executive vice president, chief operating officer and chief financial officer.

Toal currently holds the positions of executive vice president and chief financial officer. RTW Retailwinds was formerly known as New York & Company.

Toal will continue to be responsible for all areas of finance, real estate, logistics, and corporate planning, and will add responsibility for IT, sourcing, and store operations. Toal will now report to the company’s CEO, Gregory Scott.

Commenting on the organisation changes, Scott stated: “As part of our continuing efforts to increase efficiency across the organisation we announced today a more streamlined senior leadership structure. I want to thank John for his many contributions in assisting us to create the infrastructure and processes to deliver on our objectives since joining our company in 2014. We wish him well in his future endeavours.”

“At the same time, I am pleased to promote Sheamus Toal to executive vice president, chief operating officer and chief financial officer,” continued Scott. “Sheamus has led our finance, real estate, logistics, corporate planning, and investor relations areas of the company for the past ten years assisting us to generate our highest gross margin since 2006 in third quarter, achieve expense savings and operate with a debt free balance sheet and strong cash flow. In the recently reported third quarter, our strategy led to RTW reporting its highest quarterly operating income in more than a decade. I believe Sheamus’ strategic insight will continue to be highly valuable to RTW in achieving our long-term sales and profitability goals, including our expectation of delivering a double digit EBITDA margin longer term.” (SV)

Fibre2Fashion News Desk – India

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