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Manager Sales

Charlotte, NC, 28270
August 05, 2012

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Jeff David Sherman Turning Challenges into Opportunities delivering Bottom Line Profits Cell Phone: 704-***-**** Home Phone: 704-***-**** Home Address 2017 Hartwicke Place, Charlotte, NC 28270

• Over 30 years of Financial Accounting Experience, with the past 22 primarily concentrated in Retail Service Industry for Public Entities. Non Profit Higher Education

• Highly motivated with both the ability and the interest in staying with a very fast paced, professional entrepreneurial organization. I am an individual with the self-confidence and maturity to challenge and respond to strong leadership, but able to work collectively as a team player. I have a positive energetic attitude with the highest standards of ethics.

• Result driven self-starter with a positive attitude focused on delivering quality on time. Someone who can set strategic directions while executing tactically in delivering results.

• Will get into the detail to understand and resolve an issue if needed.

• A strong leader and mentor of people with great communications skills.

• Demonstrated significant cost savings at all Companies from shrink control, payroll management and scheduling, and operational efficiencies and improvements while applying six sigma principals.

• Implemented strategic in house support groups consisting of Legal, Contract Negotiation and Review, Loss Prevention and Safety Standards resulting in favorable bottom line impact.

Professional Experience Building Corporate Value thru Team Building and Strong Work Ethics

Harris Teeter Supermarkets, Inc., Matthews, North Carolina 6/98 –Pres

A four and one half billion-dollar, upscale Supermarket with approximately 206 stores in eight southeastern states. Traded on the NYSE as HTSI.

Senior Vice President of Finance and Control. Chief Financial Officer - Corp Secretary

• Direct Reports – Director Financial Services, Director Financial Reporting, V/P Accounting Corporate Controller, Director Cash Management Treasury Services, Legal, Vice President of Loss Prevention, and Director of Warehouse Inventory Control and Pricing Control.

• Reporting of all Internal Reports for Operations and Division used to manage direct and control the assets of the Corporation. Reporting responsibilities also included all SEC/external reporting for the retail accounting operations for the Corporation. Corporate Governance and SOX Compliance with no deficiencies

• Accomplishments include:

o Completely restructured the Accounting Departments and added Control Responsibilities. Revenues have increased 100% in the last ten years with no head count growth in Accounting.

o Improved accounting operational efficiencies, streamlined workforce by 15% via process automation while increasing responsibilities and results. Enhanced Financial Accountability over accounts. Strengthened overall Corporate Balance Sheet.

o Progressively increased responsibilities from Vice President Controller to Vice President Finance to Senior Vice President of Finance in first three years with the Company.

o Reduced waste from 2.2% to 0.75% (near industry best) in four years while reducing overall Loss Prevention expenses by $2,000,000. Reduced bad check collection from $1,500,000 to under $200,000 net expense. No significant credit card chargeback expense.

o Improved overall operating profit from 2.4% in 1998 to 4.85% in 2008.

o Reduced overall debt (paid down $100 million Line of Credit and no cash to no outstanding LOC with $100 million cash on hand) and improved overall working capital while improving out of stock position of merchandise at store level.

o Successfully negotiated the sale of 26 stores to three Supermarket acquirers simultaneously on the same day two weeks after public announcement.

o Implemented safety awareness program to reduce worker’s compensation and general liability claims.

o Built a $90 million dollars real estate development portfolio of HT anchored shopping centers to lower HT occupancy costs and ability to control the shopping center, store site and timing of opening. Sales of assets to date have netted a profit of $35 million.

AutoNation USA, Fort Lauderdale, Florida 2/97-6/98

Largest publicly held group of used-car auto dealerships in the United States with over $2 billion dollars in sales.

Director of Corporate Accounting

• Management – supervised a team of 30 professionals, direct reports included Manager of A/P, Payroll IT-Finance, and Budget and Forecasts.

• Reporting - prepared internal financial statements and management reports, analyzing retail store performance, while managing the Corporate Balance Sheet.

• Forecasting - created weekly forecasting techniques to successfully project monthly, quarterly, and annual corporate performance by stores. Identified key “Business Drivers” to track against budget and forecast.

• Other – re-engineered Accounting department while directing day-to-day operations and monthly close process. Reduced closing process from 15 to 5 days with improved credibility by implementing functional duties and a month end checklist detailing responsibilities. Developed and documented several Accounting Policies and Procedures

The Limited, Inc., Columbus, Ohio 8/90 to 2/97 working at the following division as follows

Bath & Body Works, Columbus, Ohio (6/93 to 2/97)

An $800 million personal care division of The Limited, Inc. (at time I left). I helped grow this division from 131 stores to over 700 stores. Streamlined new store opening process while minimizing disruption to the business forming multifunctional team to coordinate opening approximately 10 stores a month.

Financial Controller – 4/95 to 2/97

Store Controller – 6/93 to 4/95

• Forecasting – projected sales and tracked performance by store daily. Analyzed “price testing” results and recommended in-store promotional price strategies. Established monthly sales plan, allocated payroll dollars per budgetary standards.

• Management – built and managed accounting team from 3 to over 30 in less than 2 years. Developed bench strength through cross training and empowerment of staff.

• Operational - created month end accounting closing checklist, reducing days to close by 3. Successfully implemented performance based payroll matrix that supported the business and eliminated weekly uncertainty during “key” holiday hiring resulting in significant sales at lower payroll costs to the organization.

• Expense Reduction – analyzed monthly expense distributions to identify opportunities for savings. Critically reviewed field T&E expense reports for compliance with corporate policy. Worked directly with major supply vendor to improve store efficiencies while reducing shipping by $500,000 and reducing warehousing cost to vendor by $1,500,000. Implemented after Christmas buy-back policy resulting in over $600,000 savings to the Company in one Season.

Lane Bryant, Columbus, Ohio (8/90 – 6/93)

A Division of the Limited, I was brought onboard to solve the Company’s ongoing shrink problem. I was able to identify issues and ultimately reduce shrink from about 2.4% of sales to shrink of 1.3% of sales for an approximately $1 Billion Company through proper identification of markdowns. Promoted as follows:

Sales Manger (1/93 to 6/93)

Manager Receipt Compliance (9/91 to 1/93)

Inventory Control Manager (8/90 to 9/91)

Deloitte & Touche, Columbus, Ohio 6/82 – 8/90

Big six public accounting firm working for a multitude of public and private companies primarily in the manufacturing, distribution and service industry.

Audit Manager (6/88 to 8/90)

Audit Senior and Staff (6/82 to 6/88)

Worked effectively with an engagement team providing audit and accounting service in a variety of industries including retail, real estate development, distribution and manufacturing.

• Planned, budgeted and directed audits of client financial statements.

• Supervised and evaluated the performance of staff accountants.

• Local Office Audit Department staff scheduler responsible to assigning all staff accounts to audit engagements.

• Officer recruiter and Firm’s Technical Audit Manager.

United States Navy – 4 years Honorable Discharge

Formerly CPA Certified in Ohio (currently non practicing CPA)

Secretary of the Ohio Society of CPA, Columbus Chapter


The Ohio State University, Columbus, Ohio 1982

BS/BA Accounting with Honors

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