Seeking to strengthen its struggling business, The Talbots Inc. has named Benedetta Casamento, a former top Liz Claiborne Inc. official with turnaround experience, as executive vice president of finance.
The position is a new one at Talbots, which during the last 18 months has installed new management across several areas. The company has been modernizing its offerings while implementing cutbacks and trying to sell the J. Jill division as part of a the turnaround strategy orchestrated by president and chief executive Trudy Sullivan, another former top Claiborne official.
Talbots said Thursday that Casamento will play a pivotal role in the overall business operations and add skill and talent to the finance team. She will report to Michael Scarpa, chief operating officer and chief financial officer.
“Her broad organizational vision and operational experience in directing complex turnaround strategies will be an invaluable asset as we continue to execute against our strategic plan and make progress in improving the company’s overall operational and financial performance,” Scarpa said.
For the third quarter, Talbots reported a net loss of $14.8 million and a 13.9 percent comparable-store sales decline. The retailer is scheduled to report its fourth-quarter results Monday.
“I have long admired the company and believe there is a tremendous opportunity to build upon the strong, classic heritage of the brand,” Casamento said, adding that her experience will enable her “to play a significant role in helping the company continue to make progress on the implementation of its strategic plan.”
A 20-year veteran of fashion and retailing, Casamento, 42, had been working as a consultant. Last October, she ended a nine-year stint at Liz Claiborne, where she served as president of the Liz Claiborne, Claiborne and Monet brands and was responsible for all aspects of brand management and turnaround strategies, including organizational restructuring and cost reductions.
Earlier, Casamento was president overseeing two former Claiborne brands, Ellen Tracy and Dana Buchman. She joined the company in 1999 as vice president and group financial director of the retail and international group, and became vice president of financial planning and analysis in 2000. She started her career at Saks Fifth Avenue in accounting and finance, and served as controller of the Off-5th outlets and the catalogue.
At Talbots, Casamento will split her time between the New York offices and the retailer’s Hingham, Mass., headquarters.
Talbots operates 587 Talbots units, 283 J. Jill units, talbots.com and jjill.com.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)