Children's Place loses COO
SECAUCUS, N.J. — Eric Bauer, COO of The Children's Place Retail Stores, has left the company effective June 19, the company announced Wednesday. Jane Elfers, president and CEO, will resume oversight of the company's supply chain, store operations, finance, information technology and real estate functions.
Commenting on Bauer's departure, Elfers said, "We thank Eric for his contributions and wish him well in his future endeavors."
Bauer joined Children's Place as COO in May 2011, after spending eight years with Gap Inc., culminating in his appointment as EVP brand operations, COO for Gap North America where he was responsible for finance, store operations, real estate, distribution, logistics, information technology and their Canadian operations.
For it's most recent quarter, the company reported sales that were negatively impacted by the unseasonably warm weather this winter. The company said that comparable-store sales for the quarter declined 2.7%, and net sales were up only slightly (0.9%) to $457.5 million from $453.2 million for the fourth quarter of 2010.
Children's Place also reported a drop in income from continuing operations after tax from $32.7 million, or $1.24 per diluted share, to $24.2 million, or 97 cents per diluted share.