The Bon-Ton Stores, Inc. has named Norm Veit executive vice president and chief information officer, effective May 1.
In his role, Veit is responsible for Bon-Ton’s IT strategy and operations. Bon-Ton has dual headquarters in Milwaukee and York, Pennsylvania.
Veit will be based in York.
Veit has more than 35 years of experience in a variety of retail leadership roles. He was most recently the chief information officer and executive vice president of distribution, real estate and facilities for Bristol, Pennsylvania-based Nine West Holdings, Inc.
In this role, Veit was responsible for the company’s global IT strategy and operations, revamping retail systems to improve efficiency, enhancing the customer shopping experience, and all corporate real estate and facilities operations.
Viet has a business administration degree from Temple University.
“We are delighted to have Norm join our executive leadership team,” said Bill Tracy, Bon-Ton’s chief operating officer. “He brings extensive knowledge in IT operations as well as strategic planning to Bon-Ton. We also look forward to benefitting from his retail systems expertise and his capabilities to enhance customer shopping experience.”
Like many retailers, Bon-Ton has struggled in recent years to attract customers as consumers shift more of their spending online and spend less time in stores.
Net income was $44.7 million, or $2.09 per share, down from $50.6 million, or $2.42 per share, in the fourth quarter of 2016. Revenue totaled $877.3 million, down from $927.9 million in the fourth quarter of 2016. Analysts expected $892.6 million in revenue.
For the full year, Bon-Ton reported a net loss of $63.4 million, compared with a net loss of $57.1 million in 2015.
Shares of the company’s stock were trading for about 75 cents this morning.
Bon-Ton Stores operates 263 department stores in 25 states, including the Boston Store at its headquarters office in downtown Milwaukee, under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers brands.
