CEO of women's retailer resigns amid declining salesby Martin Moylan, Minnesota Public Radio
St. Paul, Minn. — Struggling womens' apparel retailer Christopher & Banks has undergone a shake-up in the executive suite.
The Plymouth-based company says CEO Larry Barenbaum has resigned all of his positions with the firm. Additionally, the retailer announced its general merchandise manager is "no longer with the company." The retailer's president, Joel Waller, has temporarily assumed the CEO post until a permanent replacement is found.
Christopher & Banks' primary market is women over the age of 40. Sales have declined and the company has announced plans to close 100 stores. Christopher and Banks' share price has lost nearly 70 percent of its value since its most recent peak in April of 2010. But the stock was up 3 percent on the final trading day of the week, closing at $2.78.