Following poor performance in Q1, Designer Shoe Warehouse’s Sr. VP and CFO Mary Meixelsperger has resigned.
Its latest results painted a less than rosy picture for the next quarter as it missed its profit and sales expectations. While the company outperformed Wall Street forecasts, its same-store sales suffered and its net income declined by 37 percent, Chain Store Age reported.
Meixelsperger, who held the executive reins for the last two years at DSW, will now be replaced by Jared Poff, who has reportedly been promoted to senior VP and interim CFO. Since January 2015, Poff has been serving as the VP of finance, business development and treasurer.
Before Poff’s appointment at DSW, he served as the VP, treasurer at Big Lots Inc. for close to 11 years, according to CSA.
The Columbus, Ohio-based company has now appointed a committee to externally search for a permanent chief financial officer.
The executive shuffle at DSW comes at a time when numerous other retailers are going through a similar transition. Some of those retailers include Best Buy, Conn’s and Sears, all of which seem to be struggling to meet market expectations and stay competitive.