Christopher & Banks taps veteran Target exec as CEO
Christopher & Banks Corp. has ended its year-long search for a CEO, appointing a retail veteran to the position.
The women’s apparel retailer named Keri Jones as its chief executive and as a member of its board. Her first day of employment is expected to be March 12. Jones succeeds Joel Waller, who was named interim CEO and president in January 2017.
Jones most recently served as executive VP, chief merchant at Dick's Sporting Goods, a position she was appointed to in May 2017. Prior to Dick's, she spent 27 years at Target, where she served in a variety of leadership roles, including executive VP of global supply chain and executive VP of merchandising planning and operations and others.
“She [Jones] is a versatile global executive displaying outstanding leadership with a proven record of driving results through consumer-focused strategy development,” said Kent Kleeberger, chairman, Christopher & Banks, which operates 463 stores in 45 states. “We conducted an extensive search and Keri distinguished herself as our top choice having the deep industry experience, leadership skills and passion for the specialty retail business we were seeking."
In January 2017, Christopher & Banks fired CEO LuAnn Via after some four years on the job. Via, who was hired as CEO from Payless ShoeSource, was terminated “without cause,” the retailer said in a filing at the time with securities regulators. The leadership change came about seven months after four new directors joined — and six directors left — the company’s board as part of a “support agreement” reached with an activist shareholder.
Similar to many mall-based apparel retailers, Christopher & Banks has struggled in recent years, challenged by declining foot traffic and increased competition from both online and off-price retailers. The chain’s sales and profits continued to decline in the past year. Same-sales were down 5% in its third quarter. It posted a net loss of $1.6 million for the period, compared to net income of $3.5 million for the prior year.
The women’s apparel retailer named Keri Jones as its chief executive and as a member of its board. Her first day of employment is expected to be March 12. Jones succeeds Joel Waller, who was named interim CEO and president in January 2017.
Jones most recently served as executive VP, chief merchant at Dick's Sporting Goods, a position she was appointed to in May 2017. Prior to Dick's, she spent 27 years at Target, where she served in a variety of leadership roles, including executive VP of global supply chain and executive VP of merchandising planning and operations and others.
“She [Jones] is a versatile global executive displaying outstanding leadership with a proven record of driving results through consumer-focused strategy development,” said Kent Kleeberger, chairman, Christopher & Banks, which operates 463 stores in 45 states. “We conducted an extensive search and Keri distinguished herself as our top choice having the deep industry experience, leadership skills and passion for the specialty retail business we were seeking."
In January 2017, Christopher & Banks fired CEO LuAnn Via after some four years on the job. Via, who was hired as CEO from Payless ShoeSource, was terminated “without cause,” the retailer said in a filing at the time with securities regulators. The leadership change came about seven months after four new directors joined — and six directors left — the company’s board as part of a “support agreement” reached with an activist shareholder.
Similar to many mall-based apparel retailers, Christopher & Banks has struggled in recent years, challenged by declining foot traffic and increased competition from both online and off-price retailers. The chain’s sales and profits continued to decline in the past year. Same-sales were down 5% in its third quarter. It posted a net loss of $1.6 million for the period, compared to net income of $3.5 million for the prior year.