New CFO at Charlotte Russe
Charlotte Russe Holding Inc. announced on April 24 that Patti Johnson, the former chief financial officer of Gap division Old Navy, will join the San Diego–based Charlotte Russe as its new chief financial officer on May 21.
She will replace Dan Carter, who announced in December that he would leave the company after a replacement was found. He said that he is pursuing other business opportunities.
Johnson has more than 25 years of experience with finance and accounting, including serving as the chief financial officer at Kohl’s Corp. and The Disney Stores Inc., according to the Charlotte Russe announcement.
Jeffrey Van Sinderen, a retail analyst with Los Angeles–based B. Riley & Co., said that Johnson should be a good addition to the company. She might have more experience working at public apparel companies than Carter did when he first started his job. “On paper she looks like a great fit,” Van Sinderen said.
Johnson joins the juniors retailer at a time when the company is experiencing good business. During the second quarter for its fiscal 2007, which ended March 31, sales rose 4.8 percent to $161.1 million. The retailer’s comparable- store sales for the quarter also increased 4.8 percent. —A.A.
