Destination Maternity Corporation (NASDAQ: DEST), the world's leading maternity apparel retailer, today announced that David Stern joined the Company as Executive Vice President & Chief Financial Officer. In this position, Mr. Stern will oversee the Finance and Accounting, Real Estate, Loss Prevention and Procurement areas of the Company, reporting to Anthony M. Romano, Chief Executive Officer & President.
Anthony M. Romano, Chief Executive Officer & President, stated: "I am pleased to have Dave join our team at Destination Maternity. He is a talented executive with broad retail experience and a proven track record in optimizing and growing retail locations and unlocking operational efficiencies across functional areas. Importantly, Dave has a strong cultural alignment with our leadership group and this, combined with his background and experience make him a perfect addition to our executive team. We look forward to his many positive contributions to our long term success."
David Stern, Executive Vice President & Chief Financial Officer, stated: "I am excited to join Destination Maternity as Chief Financial Officer. I am impressed with the Company's leadership position in the maternity market and look forward to working together with the talented members of the leadership team in executing the strategy that will drive long term profitable growth. "
David Stern has significant financial experience in the retail industry. From 2012 until 2016, Mr. Stern served as Executive Vice President – Chief Financial Officer of Pep Boys – Manny, Moe & Jack. Prior to joining Pep Boys, he served as Executive Vice President, Chief Administrative Officer and Chief Financial Officer of A.C. Moore Arts and Crafts. From 2007 until 2009, Mr. Stern held roles at Coldwater Creek, including Vice President, Financial Planning and Analysis and Corporate Controller. From 2000 to 2007, Mr. Stern was the Chief Financial Officer of Petro Services. Mr. Stern began his career as an internal auditor and then as a financial analyst, accounting manager and corporate controller at several companies, including Delhaize America, before joining Petro Services. Mr. Stern currently serves on the Boards of Beck Suppliers, Inc., and Camp Ockanickon, a not-for-profit camp for children. Mr. Stern is a Certified Public Accountant (inactive status), earned a BS degree in Accounting from the University of Maryland and an MBA from Wake Forest University.
About Destination Maternity Destination Maternity Corporation is the world's largest designer and retailer of maternity apparel. As of April 30, 2016 Destination Maternity operates 1,487 retail locations in the United States, Canada, Puerto Rico and, most recently, England, including 530 stores, predominantly under the trade names Motherhood Maternity®, A Pea in the Pod® and Destination Maternity®, and 957 leased department locations. The Company also sells merchandise on the web primarily through its brand-specific websites, motherhood.com and apeainthepod.com, as well as through its destinationmaternity.com website. Destination Maternity has international store franchise and product supply relationships in the Middle East, South Korea, Mexico, Israeland India. As of April 30, 2016 Destination Maternity has 203 international franchised locations, including 23 standalone stores operated under one of the Company's nameplates and 180 shop-in-shop locations. Destination Maternity also distributes its Oh Baby by Motherhood® collection through a licensed arrangement at Kohl's® stores throughout the United States and on Kohls.com.
