NEW YORK — Joseph J. Kassa has been promoted to president of Weiner’s Stores, the ailing family retailer based in Houston.
Raymond J. Miller, who formerly held the position of president, will continue as the company’s chairman and chief executive. Kassa relinquishes the title of executive vice president but continues as general merchandising manager.
Miller noted in a statement: “There couldn’t be a better partner than Joe Kassa to help turn this company around. Joe’s energy, excitement and passion for this business, coupled with his 25-plus years retail experience, is a winning formula.” Kassa has been with the company since 1996.
For the second quarter ended July 29 the company posted losses of $5 million, or 27 cents a share, down from a gain of $463,000, or 11 cents, in the year-ago period. Revenues for the quarter fell 21.2 percent to $62.7 million against $79.5 million in the year-ago period.
The company blamed the poor results on sales declines in branded athletic shoes, Levi’s products, branded athletic apparel and general softness in all apparel areas.
Weiner’s operates 141 stores in the states of Texas, Louisiana, Mississippi, Arkansas and Alabama.