Nordstrom Is Latest Retailer to Change CFOs
04 Mayo 2017 - 6:29AM
Noticias Dow Jones
By Joann S. Lublin and Suzanne Kapner
Nordstrom Inc. has hired Anne Bramman as chief financial
officer, filling a role that was vacated when its former CFO
retired earlier this month.
Ms. Bramman, 49 years old, announced her resignation from Avery
Dennison Corp., a maker of adhesive technologies and packaging
materials, in March after two years on the job. Before that, she
worked in the cruise industry for Carnival Corp., and at retailer L
Brands Inc., where she was CFO of its Henri Bendel unit from 2008
to 2010.
Nordstrom joins a number of retailers that have recently filled
or are looking to fill top finance jobs. Kohl's Corp. is conducting
a search after its longtime finance chief said he would retire no
later than July. Michael Kors Holdings Ltd. recently appointed a
new CFO, following the retirement of its finance chief, who had
held the job for 13 years.
Late last year, clothing chain Gap Inc. said a newly hired
finance chief would start in mid-January. And Coach Inc. named a
new CFO in January, after its finance chief was wooed away by Ralph
Lauren Corp.
Nordstrom's former CFO, Mike Koppel, retired May 1 after 16
years with the company. He will continue to serve as an adviser
through the end of the year.
Like other retailers, Nordstrom has been struggling to adapt to
changing consumer behavior as more shopping shifts online. The
company has weathered the changes better than some peers, in part
because it moved quickly to buy digital startups such as Trunk Club
and expand its off-price chain called Nordstrom Rack.
Nevertheless, profits tumbled 41% to $354 million for the
financial year ended in January, while sales inched up nearly 3% to
$14.5 billion. Through Wednesday's close, Nordstrom's shares are up
3.6% so far this year.
Write to Joann S. Lublin at joann.lublin@wsj.com and Suzanne
Kapner at Suzanne.Kapner@wsj.com
(END) Dow Jones Newswires
May 04, 2017 07:14 ET (11:14 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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