What Are The Most Popular Fashion Retailers At Present?

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What do retailers want most after Christmas vacation? Obviously, it is a new chief financial officer, CFO.

Niemann department store, Cole store (KSS), Nordstrom

(JWN) and light extravagance

Coach (COH) is looking for new CFO.

Even in the US organic supermarket Whole Foods Market (WFM), who has worked for 29 years in CFO, the longest serving CFO in a fortune 500 company, will leave the company to seek new development next year.

According to the world clothing and shoe net, in the past year, there have been changes in the CFO position of at least 45 retail companies worldwide. According to the data provided by Korn/Ferry International, about 20% of retail companies appointed new CFO in 2015, which is higher than the average ratio of 15% in all industries. In 2016, retail companies CFO turnover rate was 17.4%, but still higher than the average level of 15.4% of all industries.

This rapid change is a sign of change in the retail industry. Retail companies needs to update its strategy to cater to changes in consumer behavior. Therefore, CFO's position is no longer as important as before. CFO only focused on sales growth 20 years ago, but now the situation is different. CFO needs to pay attention to the opening of new stores, and also needs to pay attention to the fluctuation of the company's stock price. Inventory management and management of M & A are also important jobs of CFO, but they don't seem to be the top priority.

In order to meet the needs of consumers, retail companies now invest far more in technology and electricity business than in physical stores. CFO of department retail companies uses various methods to maintain company development, including closing stores, implementing reorganization plans and streamlining the company structure.

In 1995, she joined The Home Depot (HD), an American household goods store, as an interview with CarolTom in CFO, indicating that her duties have undergone substantial changes over time.

In 2007, she realized that excessive expansion began to drag down the company's performance. Under the background of the economic slowdown, she decided to close those poorly managed stores, and eventually achieved good results. Later, under her proposal, the company increased investment in supply chain, technology and e-commerce, paying attention to earnings growth and promoting dividend and stock repurchase.

According to Bryan Proctor of Korn/Ferry International, the non-traditional CFO duties such as macro strategy, operation stores and electricity providers, and analyzing customer data are becoming more and more important today, and have gradually become the main task of CFO.

More and more retail companies began to look for suitable talents outside the retail industry. The new CFOMarkErceg of American luxury jewelry brand Tiffany Tiffany (TIF) is from the railway company. The new CFO Jane Nielsen of American fashion brand Lauren RalphLauren (RL) has worked in Pepsi Co for 15 years. In 2011, she joined Coach to enter the fashion industry formally.

Coach and RalphLauren have begun to restrict the opening of new stores. In order to control blind expansion for growth, in recent years, Coach has closed 100 stores and reduced store promotions to restore its luxury status. According to its latest sales data, Coach performance is recovering and operating profits are rising.

More interesting reports, please pay attention to the world clothing shoes and hats net.