DESIGNS INC. TAPS LEVIN FOR TOP POSTS
NEW YORK — Continuing a period of rapid management turnover, retailer Designs Inc. on Monday named David A. Levin its president and chief executive officer.
Levin succeeds John J. Schultz, who had held that position on an interim basis since November, when Joel H. Reichman stepped down as head of the company. Designs Inc. operates Levi’s and Dockers outlets.
Reichman exited after a proxy battle initiated by Jewelcor Management. Jewelcor, which as of March 31 held a 15.4 percent stake in Needham, Mass.-based Designs, has since been retained by the company as a consultant.
Also on Monday, Designs said that Seymour Holtzman, Jewelcor ceo, has been named to the company’s board.
He succeeded James Mitarotonda, who resigned.
Levin currently serves as executive vice president of retail strategy at Prime Retail subsidiary, eOutlets.com, a consumer e-commerce outlet that is preparing to launch as a discount Web site.
Levin has also served as president of Revlon Inc.’s stores, as well as president of Parade of Shoes, the specialty footwear chain.
Designs Inc. on Monday also released its sales results for the five weeks ended Saturday. Comp-store sales were off 9 percent, while total sales slipped 5.7 percent to $15.4 million.
The announcement was made after the close of trading Monday. On the Nasdaq National Market, Designs Inc. shares closed at 1 5/32, down 3/64.