E-commerce grew 20% for Costco in fiscal 2015—20 times faster than store sales.
Larry Barenbaum takes over temporarily for Lorna Nagler, who has resigned.
Women’s apparel retail chain Christopher & Banks Corp., which operates ChristopherandBanks.com and CJBanks.com, said this week that CEO Lorna Nagler has resigned, effective immediately. Larry Barenbaum, board chairman, has taken over as interim CEO.
The company, No. 314 in the Internet Retailer Top 500 Guide, gave no reason for Nagler’s departure beyond saying that she left to pursue other interests.
Barenbaum joined the company’s board of directors in 1992 and has served as board chairmen since 2005. He retains that job as the company searches for a permanent replacement for Nagler, who joined the company in 2007. The retailer last month reported a $4.4 million operating loss for the second quarter, up from $3.5 million for the same period last year.
“The board appreciates Lorna Nagler's hard work to improve the company's operations and infrastructure, reduce costs and build our brands during her tenure with the company,” Barenbaum says. “With her efforts, we have made progress reducing our cost structure and we became, for the first time, a company with true e-commerce capabilities.”
In other personnel moves, Christopher & Banks said that Susan Connell, executive vice president, chief merchandise officer, has left the company, and that Jules Rouse has taken over as senior vice president, general merchandise manager. Rouse had worked for the company from 1995 to 2008, including as vice president, general merchandise manager. Barenbaum offered no further comment on the personnel changes.
The company’s board also has elected Anne L. Jones, a board member since 2000, to the post of lead director.