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}

GROWTH AND EXPANSION

CHIEF EXECUTIVE OFFICER, JEANOMIX, A SPECIALTY STORE COMPANY

SITUATION
  • A Billionaire Entrepreneur and Primary Owner of a large Private Equity Firm spotted a new business concept that was engaged in selling premium denim and contemporary sportswear for men and women.
  • The startup store was doing over $700.00 a foot in approximately 2,100 square feet which is well above industry average.
  • The Entrepreneur was interested in rolling out a 200 store national chain with a 250.0 million dollar market cap in a five year period.
PROBLEM
  • The current owners were entrepreneurs and had not worked in a large corporate environment and required intensive education on the "Economics of Merchandising".
  • There were little or no financial, operating, or merchandising controls in place and the QuickBooks systems was used for inventory control, accounts payable and unit movement.
  • Inventories were turning at 1.8 times a year and there was a lot of obsolete merchandise which had never been marked down.
SOLUTION
  • Developed the Vision, Mission and Strategy for the new company.
  • Architect of the new Brand Name, Brand Strategy and Brand Promise.
  • In conjunction with our accounting firm, the company developed the necessary operating policies, practices and procedures that would guide the financial accountability needed to ensure transparency with all financial reporting requirements.
  • Prepared the Business and Operating Plan that secured a multi-million dollar tranche of capital for the initial phase of the growth strategy from a large Private Equity Firm.
  • Developed and executed a new store design that effectively positioned the company with a distinctive competitive advantage in the crowded apparel retail space.
  • Hired a new operating team that was able to execute the opening of four new stores within nine months.
RESULTS
  • Four new stores opened within a nine month timeframe from site selection to store design to actual store opening.
  • Gross Margins were on plan of 48.5%, conversion was at 20%, average transaction was $178.00 and units per transaction at 1.8.
  • Sales, profits and EBITDA results were not achieved due to the unprecedented financial crisis in America and the world which caused consumers to retrench from purchasing affordable luxury premium denim products
  • The investor decided not to invest any additional capital into the business due to the company's performance and an orderly wind down of the business was effectuated in the critical fourth quarter of 2008.
 
William H. Parker: Turnaround Executive