Citi Trends taps Five Below exec as CEO
Citi Trends has found a permanent chief executive.
The value-priced, urban apparel and home goods retailer appointed David Makuen as CEO and board member, effective March 9. He will succeed Peter Sachse, who has served as interim CEO since December. Sachse has been named executive chairman, also effective March 9.
Most recently, Makuen served as executive VP of marketing, strategy, and e-commerce for Five Below. Prior to joining Five Below in 2012, Makuen served as the founder and president of BuiltBurger.com. Before that, he was VP, marketing at Eddie Bauer, from 2005 to 2009. He held the same position at Ann Taylor, from 2002 to 2004.
“David’s proven leadership experience along with his unique skillset gives us confidence that he is the right leader to drive Citi Trends’ long-term strategic plan to reach sales of $1.0 billion by 2022 and an earnings per share CAGR of 20%-25%,” said board chairman Brian Carney.
In November, Citi Trends said it was accelerating its focus away from apparel and moving to expanded home assortments throughout the year.