Ed Record returns to HBC as CFO
Hudson's Bay Company has announced that Ed Record will return as chief financial officer of the company.
He will resume his duties as of December 20, 2019, at which point Becky Roof, a managing director with AlixPartners LLC, will step down as interim CFO.
Record exited the company on medical leave in June, but the company did not provide any additional information on Record’s condition. He first joined HBC as chief financial officer in August 2017, and "has been focused on streamlining the company and improving its balance sheet," the company said on Thursday.
Prior to joining HBC, Record served as the chief financial officer and executive vice president of J.C. Penney from March 2014 to July 2017. Before joining J.C. Penney, he served as the chief operating officer of Stage Stores from 2010 to 2014, and as its CFO from 2007 to 2011. He has also held executive leadership roles at Kohl’s and Belk.
Earlier this month, HBC reported a 2.3% fall in quarterly revenue as it struggled to attract shoppers to its Saks Fifth Avenue and namesake stores.
Net loss widened to C$226 million ($169.91 million) in the third quarter ended Nov. 2, compared to C$161 million in the year prior, while the company’s total revenue fell to C$1.84 billion from C$1.89 billion.
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