Calendar Wednesday, March 10, 2010
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William H. Parker

William H. Parker

Senior retail executive who has led global multi-billion businesses by taking companies to their next level by strengthening their positions in the market and developing distinctive strategies to achieve competitive advantage. Turnaround executive who specializes in maximizing the potential and opportunities of distressed companies; also specializes in providing professional business management to small entrepreneurial companies so they achieve their full growth potential:

  • In depth experience in merchandising, product development, international manufacturing, store operations and financial management within department, specialty and discount business formats. Keen understanding of financial key performance indicators so profitability is enhanced and maximized.
  • A corporate executive who has successfully transitioned to the Private Equity arena with an assertive style and a high achievement record.

FORMAT CORPORATE

DEPARTMENT STORES
  • Macy’s: Menswear Buyer
  • May Company: Store Operations; Divisional Merchandise Manager {menswear, children’s wear, soft home}
  • Dayton-Hudson’s: Store General Manager; Divisional Merchandise Manager {menswear, young menswear, sporting goods and footwear}
  • Carson Pirie Scott: Senior Vice President Merchandising-Menswear, Intimate Apparel, Children’s Wear, Footwear
SPECIALTY STORES
  • Old Navy: Vice President of Stores and Operations for the Midwestern Zone
  • Banana Republic: Senior Vice President of Stores and Operations
  • Gateway: President and General Manager of Gateway’s Retail Stores
MASS MERCHANDISERS
  • Target: Divisional Merchandise Manager, Footwear
  • Kmart: Vice President of Marketing and Sales Promotion; Vice President Merchandising, Home Décor

FORMAT ENTREPRENEUR/INVESTOR

PRIVATE COMPANIES
  • Pharmaca, Integrative Pharmacy: Chief Operating Officer
  • Jeanomix {contemporary branded jeans and contemporary sportswear for men and women}

TURNAROUNDS

CASE STUDY TWO

SITUATION

  • A large, 8.0 billion dollar, multi-dimensional computer company {Gateway} had a retail arm that was a drag on company sales and profits.
  • The retail company was run by manufacturer executives who had little or no formal retail background and expertise.
  • The customer shopping experience was a less than desireable one and the retail business was losing market share to the big box and small box specialty retailers.
  • Real estate was positioned in secondary and tertiary markets but had real growth opportunities if positioned in the top DMA's in the United States.

PROBLEM

  • There were over 300 stores located in secondary and tertiary malls and markets; competition was better suited to be positioned in key power centers and malls with strong traffic patterns and consumer demand.
  • This 1.3 billion dollar specialty chain's comparable store sales had declined for over three years and the company was contributing approximately 7 million dollars in four wall operating profit before corporate overhead.
  • Customers were defecting from the brand in droves and the customer shopping experience was less than desireable.

SOLUTION

  • A portfolio review of the fleet revealed that over 100 stores had to be closed; staff where applicable were reassigned to neighboring stores.
  • Completely transformed the company from a personal computer showroom into a true retailer.
  • Created the strategic direction to turnaround the performance and profitability of the Gateway Retail Stores. Repositioned the brand from a "build to order" computer retailer to a broad based product intense competitive retailer of consumer electronic and digital products within 18 months
  • Conceptualized the new brand identity, brand promise and new store design in less than six months. Remodeled the entire fleet in record time {150 days} while achieving the goal of transforming the company into a consumer electronics company prior to the holiday season.

RESULT

  • Increased gross margins by 200 basis points by editing assortments on a geographic basis while supplementing the Gateway assortments with branded product from other manufacturers.
  • Increased cash flow by $60.0 milllion by increasing gross margins, improving merchandise product mix, while reducing administrative costs.
  • Closed over 100 stores and repositioned the brand in the most desireable shopping locations.
  • Persuaded the board to separate the Retail Division from the Manufacturing part of the company so it could function as a stand alone business. Engaged Accenture and Goldman Sachs to assist with the valuation model and capital structure so the new company was sustainable.
  • Eventually transitioned the company store model into a third party retail go to market strategy upon the reverse takeover of the firm by E-Machines.

 
 
William H. Parker: Turnaround Executive