Vestis Retail Group, which was formed by Versa Capital Management, has named Susan J. Riley as chief financial officer. Riley is a former executive vice president of finance and administration at The Children’s Place Retail Stores Inc. Based in Connecticut, Vestis operates several retailers, which include Sport Chalet and Bob’s Stores.
Meriden, CT – March 5, 2015 – Vestis Retail Group, LLC (Vestis) today announced the appointment of Susan J. “Sue” Riley to the position of Chief Financial Officer.
Vestis, owned by affiliates of private equity firm Versa Capital Management, LLC (Versa), encompasses Bob’s Stores (Bob’s), an award-winning Northeastern retailer of value-oriented footwear, apparel and work wear; Eastern Mountain Sports (EMS), the second largest U.S. multi-channel retailer of human-powered outdoor sports apparel and equipment with stores in the Northeastern and Mid-Atlantic states; and Sport Chalet, a premier, full service specialty sporting goods retailer operating stores in Arizona, California, Nevada and Utah. Ms. Riley will report to Mark Walsh, Vestis Chief Executive Officer.
“We’re very glad to have Sue as part of the Vestis team,” Mr. Walsh said. “She is a highly accomplished professional in the areas of financial management and analysis who also brings us valuable strategic perspective from her deep finance career. She will be an important contributor to our leadership team as we guide Vestis to continued growth in the future.”
According to Gregory L. Segall, Chief Executive Officer of Versa and Chairman of Vestis, “We have been fortunate to work with Sue in the past and are pleased that she will bring her significant retail industry and financial management expertise to Vestis, which is now one of the nation’s largest outdoor retail groups. Vestis continues to benefit from the scale and geographic diversity its three iconic brands bring to bear, and we look forward to the company’s continued success.”
Ms. Riley brings 30 years of financial management to her new role at Vestis, where she worked on a consulting basis as interim CFO in recent months. She also served as Executive Vice President, Finance and Administration, at The Children’s Place Retail Stores, Inc., and as Chief Financial Officer at Klinger Advanced Aesthetics, Inc., Abercrombie & Fitch Company and The Dial Corporation, and as Vice President and Treasurer for Colgate-Palmolive Company. She spent a decade with Tambrands, Inc., a leading global provider of feminine care products. Ms. Riley currently serves on the boards of directors of United Stationers Inc. and PJM Interconnection, LLC. She holds a BS degree from the Rochester Institute of Technology and an MBA from Pace University. She will be based in the Meriden, CT headquarters of Vestis.
“Mark and his management team, with assistance from Versa, have created an outdoor retail company with the requisite size and product offering to become a market leader,” said Ms. Riley. “I’m excited to have the opportunity to work alongside my new colleagues as we continue to grow Vestis in a sustainable manner over the long term.”
About Vestis Retail Group
Based in Connecticut, Vestis Retail Group, formed by Versa Capital Management, operates Bob’s Stores, Eastern Mountain Sports (EMS) and Sport Chalet. Bob’s is a 60-year-old, award-winning Northeastern retailer of value-oriented footwear, apparel and work wear. EMS is the second largest U.S. multi-channel retailer of human-powered outdoor sports apparel and equipment with stores in the Northeastern and Mid-Atlantic states. Founded in 1959, Sport Chalet is a premier, full service specialty sporting goods retailer operating stores in Arizona, California, Nevada and Utah and features the industry’s top sports brands in apparel, footwear, and sports equipment. More information is available at www.bobstores.com, www.ems.com and www.sportchalet.com.
About Versa Capital Management
Based in Philadelphia, PA, Versa Capital Management is a private equity investment firm with more than $1.4 billion of assets under management focused on control investments in special situations involving middle market companies where value and performance growth can be achieved through enhanced operational and financial management. Versa’s portfolio includes retailers Avenue Stores, Bob’s Stores, Eastern Mountain Sports and Sport Chalet; restaurants such as Black Angus Steakhouses; community newspapers under Civitas Media; and manufacturers that service a variety of industries. More information can be found at www.versa.com.