Emily Scott, a director since 1992, and Thomas Scott, a director since 2002, have chosen to resign from the board of directors for personal reasons, effective Dec. 2, 2006. Berman, a director since August 2005, will also be resigning from the BOD and the audit committee of the board in connection with her recently assumed role as CEO of the US subsidiary of Giorgio Armani S.p.A., effective Dec. 26, 2006.
According to a company statement, the company's remaining eight board members "possess strong and varied backgrounds with significant accomplishments in the financial, business and consumer sectors."
Most recently, the company opened its second Crewcuts children's boutique, in White Plains, NY, joining a unit in Dallas that opened earlier this year. On Aug. 22, the company also opened its first Madewell casual women's store in Dallas.
Revenues for its latest quarter came to $269.2 million, a 17% increase from the second quarter of fiscal 2005. Comparable store sales increased 16%. Operating income increased 33% to $26.8 million compared to the second quarter of fiscal 2005. As of Sept. 29, the company operated 172 retail stores and 50 factory stores.
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