FEDERATED DIRECT FILLS 2 KEY EXEC POSITIONS
Byline: David Moin
NEW YORK — Federated Direct is staffing up.
In March, Jeffrey Sherman, former Bloomingdale’s president, was named chairman and chief executive of Federated Direct. Last week, he promoted Susan Harvey to senior vice president and managing director of Bloomingdales.com, and named Aphrodite Spirocostas executive vice president of finance and administration.
Harvey was vice president of marketing information services at Bloomingdale’s. Spirocostas was senior vice president of finance and administration at Macy’s By Mail.
Federated Direct runs the catalog and e-commerce units of Federated Department Stores Inc.
With Sherman’s appointment in March, the catalog and e-commerce operations were put under one management structure, with Sherman at the helm. Previously, Bloomingdale’s By Mail and Bloomingdales.com reported to the management of Blooming-dale’s department stores, while Macy’s By Mail, Macys.com and Fingerhut were under the Federated Direct umbrella.
Aside from building an organization for its direct-to-consumer businesses, Federated faces the challenges of building e-commerce sales, improving the Macy’s By Mail catalog, which has been underperforming, and integrating certain functions of the various units for cost efficiencies.
Spirocostas, in a newposition, will have direct administrative responsibilities for the Federated Direct central offices and will coordinate a number of financial processes for the Federated Direct divisions.
She will develop financial reporting and communications for the Federated Direct divisions, which include Fingerhut, Macys.com, Macy’s By Mail, Bloomingdales.com and Bloomingdale’s By Mail.
Spirocostas and Harvey report to Sherman.
On the Internet last year, according to James Zimmerman, Federated’s chairman and ceo, Federated posted $60 million in sales through Macys.com, Bloomingdales.com and Fingerhut. He projected Federated’s online sales at $170 million in 2000.