A rapidly expanding retailer led by a former top Walmart executive is supposed to produce strong same store sales growth, leverage expenses and increase profits. So why isn’t Five Below?
Michael Romanko was named Executive Vice President of Merchandising at discount retailer Five Below, reporting to President Joel Anderson.
Teen and pre-teen retailer Five Below landed two senior executives from Walmart.com and Ascena Retail Group for key roles as it looks to accelerate an already rapid pace of growth.
Teen retailer Five Below elevated Joel Anderson to the role of CEO in conjunction with the release of third quarter results that showed strong improvement in profitability despite a modest 1.5 percent same store sales increase.
Less than a month after former Walmart.com CEO Joel Anderson joined Five Below as president, the discount retailer’s EVP of merchandising Jeffrey Moore has resigned.
Fernando Madeira will succeed Joel Anderson as president and CEO of Walmart.com to help the retailer further a growth strategy focused on winning at the integration of physical and digital.
Walmart has begun the latest installment of its social media-inspired merchandising initiative known as, "Get on the Shelf."