RTW Retailwinds, a specialty women’s apparel retailer with a multi-brand lifestyle platform, has reported several executive departures, including its recently appointed CEO, Traci Inglis.
Traci Inglis, the retailer’s President, Chief Marketing and Customer Officer since May 2019, will step down, although she will remain as a consultant providing marketing and digital expertise through Aug. 31, 2020. RTW Retailwinds, formerly known as New York & Company, had announced in March that Inglis would be promoted to CEO effective April 17 as the replacement for outgoing CEO Gregory Scott.
The company also announced that Sheamus Toal, the company’s Chief Financial Officer, will be promoted to the CEO post. Toal, who has worked for the company since 2004, will continue to serve as CFO, according to documents filed with the Securities and Exchange Commission.
Inglis’ departure and Toal’s promotion are not the only changes taking place in the company’s executive suite. Four members of the Board of Directors — Miki Racine Berardelli, Brenda Freeman, Christy Haubegger and John Howard — have resigned their board positions in April. All cited personal reasons rather than any disagreement with the company or its direction.
For its most recent fiscal year, which ended Feb. 2, 2019, RTW Retailwinds reported net sales of $827 million, down from $893.2 million for the previous year, with a comparable store sales decrease of 5.4%. However, this was prior to the store shutdowns required by the coronavirus pandemic, which forced the retailer to furlough all store associates as well as a significant portion of corporate home office workers.