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New CFO to lead new era at A&P
MONTVALE, N.J. — A&P has emerged from Chapter 11, and tasked with ensuring the company stays on sure financial footing is Raymond Silcock, who has been promoted to the role of CFO reporting to president and CEO Sam Martin. Silcock succeeds Frederic Brace, who is resigning from his roles as chief restructuring, financial and administrative officer in conjunction with A&P’s emergence from Chapter 11. Brace will continue to serve the company in an advisory capacity.
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Rue21 profit rises 19% in Q4
Warrendale, Pa. -- Rue21 reported Wednesday that net income for the quarter ended Jan. 28 rose 18.7% to $12.9 million, from $10.9 million in the year-ago period.
Sales surged 15.7% to $219.9 million, but same-store sales dipped 2.2% following a 1.5% increase a year earlier.
During the quarter, Rue21 opened 17 new stores and closed two.