Body Central Corp. (BODY) recently announced the appointment of Tom Stoltz as its executive vice president, chief financial officer (CFO) and treasurer effective September 26. Stoltz, who served some leading names in retail earlier, succeeds Richard L. Walters, who is no longer with the company.
Tom Stoltz will report to Allen Weinstein, president and chief executive officer of the company and will be in charge of all financial issues including corporate finance, financial planning and analysis, tax, treasury, corporate facilities and information technology.
Stoltz was the CFO at Fanatics, LLC for the last three years. Prior to that, he served the same post at Cato Corp. (CATO), Citi Trends Inc. (CTRN), and Factory Card Outlet. Cato and Citi Trends are well-known retailers of urban fashion apparel and accessories in the United States. With his rich financial experience, Stoltz can easily be tagged as an industry veteran in both specialty store and e-commerce channels. A number of senior finance positions with Dollar General Corporation (DG), a discount retailer of general merchandise in the southern, southwestern, midwestern, and eastern United States, and Food Lion Inc. also vouch for his expertise.
In the second quarter of 2011, Body Central’s net revenue grew 22% while its net income took a huge leap of 128% year over year. The multi-channel, specialty retailer selling quality apparel and accessories ended the second quarter with cash balance of $29.2 million and no long-term debt, reflecting a sound financial condition.
Management is hopeful that Stoltz’s vast know-how and expertise regarding retail will add value and drive Body Central’s growth and profitability ahead. Body Central currently retains a Zacks #2 Rank, which translates into a short-term Buy rating. We are maintaining our long-term Neutral recommendation on the stock.
