Controller

FREDRIC E. STERN

***** ******** **** ***** *********@*******.*** Home: 239-***-****

Ft. Myers, FL 33907 Mobile: 239-***-****

CAREER SUMMARY

Controller / CFO with focus on business operations, expense management, streamlining processes and improved efficiencies. Supervised Accounting, Real Estate, Store Construction, Marketing, and Store Supplies through major growth periods with national specialty retailers. Directly involved in Store Operations, Real Estate selection, Landlord relations, Store Construction, Logistics, importing, corporate marketing and expense control. Operationally oriented, designing numerous merchandise and operation field management reports.

Familiar with best in industry metrics, systems, management, leadership culture and skills.

PROFESSIONAL EXPERIENCE

CHICO’S, FAS, INC., Fort Myers, FL 2006 – 2009

Operating with 1100 stores under Chico’s FAS, WHBM, and SOMA intimates brands, $2B in annual revenues.

Controller – Construction, Store Planning and Facilities

Controlled store construction and facility spend through the annual expansion of 250 projects, $160 million spend. Supervised the procurement, and controlled inventory of owner supplied materials. Controlled contractor bidding process, approved awards, and payment for contractors and vendors. Budgeted, reconciled, reported capital expenditures, explaining variations, market fluctuations and nature of cost reductions obtained.

• Reduced average costs per store by $30 per square foot, $120K per store, extrapolating to $2.4M annually in 2007 and again in 2008.

• Initiated national contractor bidding processes, shortened bidding period and accelerated process by 30 days through electronic communications, standardized terms, and conditions. Implemented use of standard Chico’s standard contracts improving efficiencies, reducing risks, and Capital spending for change orders by over 40%.

• Cleared up and resolved a 40 page internal audit report of Real Estate and Construction control concerns

CERTEGY CHECK SERVICES, St. Petersburg, FL 2005 – 2006

Senior Vice President / CFO, Finance

Budgeting, forecasting, monthly reporting and analysis of retailers pricing and gross margins. Authorized and approved all customer contracts.

UNITED RETAIL GROUP, INC., Rochelle Park, NJ 1988 – 2005

National specialty retailer with 580 stores, $500M volume/ joined Company as a division of the” The Limited”

Vice President / Controller

Budgeting, financial reporting and analysis responsibilities. Domestic, Import, expense payable, customs compliance, sales audit, inventory control, payroll and store supply procurement. Member of Real Estate Committee, supervised store construction and facilities. Fully in charge of all corporate expense areas, stores, Distribution Center and Corporate SGA for the organization.

• Established Real Estate, Store Design , Construction processes and controls to support substantial growth

• Accelerated Budgeting and monthly financial closing processes by 40%.

• Streamlined domestic, import, expense payable processing by over 30% assuring all vendors and employees are paid currently and on terms

• Assured all importing was in compliance with CTPAT and required supplemental documentations

• Implemented Chesapeake bank reconciliation and cash management system to reconcile over 550 bank accounts and accelerate cash flow by 25%, with less than 5 staff members.

FREDRIC E. STERN

13700 Magnolia Lake Court *********@*******.*** Home: 239-***-****

Ft. Myers, FL 33907 Mobile: 239-***-****

• Reconciled all physical inventories reducing shrink by 25% with improved control programs

• Supervised payroll department paying over 12000 associates weekly and producing all monthly and year end tax filing requirements

• Purchased , controlled and managed all Store supplies, purchasing and Corporate office services obtaining over 20% cost reductions through outside reverse auctions and overseas procurement

• Integral member of Real Estate Committee reviewing and approving sites and deals

• Initiated the Real Estate deal “Minimal Deal Requirement and wish list audit” for all RE deals.

This included inserting numerous risk avoidance criteria, deal kick outs and automated rent reductions.

• Designed and implemented standard leases to assure control and protection against increased landlord costs.

• Materially reduced store SGA expenses by 15% through 20 reduction programs.

• Established a national procurement bidding process for all sourcing from marketing to supply costs.

• Implemented control monitor dashboard reports to highlight and report critical expense and merchandise trends to standards, throughout the organization for timely field and merchandise reaction.

SILO CORPORATION, Philadelphia, PA

A national 110 unit specialty appliances, TV and audio national chain, with $110,000,000 regional volume

Vice President/Regional Controller

• Chief Financial Officer of Central Region in charge of all financial reporting and controls

• Reduced administrative overhead expenses, while expanding the number of units by 33% and volume by 25%

• Regional goals of reducing expenses by 30% were accomplished, a major factor in increasing income by 50% in two years

TUCKERMAN OPTICAL COMPANY. Columbus, OH

A 40-unit retail privately held optical chain (affiliate of The Limited Stores)

Vice-President of Finance and Administration

• Chief Financial officer in charge of all financial, MIS and home office administrative functions

U.S.SPECIALTY RETAILING, DBA CASUAL CORNER, J. RIGGINGS, AUGUST MAX SPECIALTY STORES, Enfield, Ct)

A national 620 store multi branded retail clothing chain

Director of Internal Audit, Financial Accounting Manager Asst Controller

• Manager of Financial Accounting, Retail Ledger and Bank Reconciliation Departments Accomplishments

ARTHUR ANDERSEN & COMPANY (CPA, State Of Conn.) (In-active) Senior Audit Supervisor- Retail Industry

Education – BBA-Accounting, Isenberg Business School, University Of Massachusetts, Amherst

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