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Francesca’s CEO to assume additional title of president; COO leaves
Houston -- Francesca's Holdings Corp. announced that in connection with a management restructuring, Theresa Backes, president and COO of Francesca's, will be leaving the company effective Jan. 27.
The board of directors appointed Neill P. Davis, Francesca's CEO, to the additional title of president. The retailer said it will not replace the COO position, and will realign the responsibilities among Davis and other existing executive officers.
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Retailers right-sizing amid 2014 uncertainty
Revelations of job cuts at leading retailers, the latest involving Sam’s Club, are a reminder that pro-active expense control remains retailers' best friend when it comes to ensuring profitability when faced with a murky outlook for consumer spending.
Sam’s Club on Friday became the latest retailer to disclose plans to eliminate 2,300 hourly and middle management positions. The move was characterized as a rebalancing of resources, according to Sam’s Club spokesman Bill Durling. Other retailers such as Macy’s and Target also recently announced job cuts.
