Retail Industry
Industry: Email Alert RSS FeedHEYWOOD WILANSKY; CEO, RETAIL VENTURES INC.
Daily News Record, May, 2005
Byline: Jean E. Palmieri
Heywood Wilansky doesn't like to lose.
Now the president and chief executive officer of Retail Ventures Inc., Wilansky completely changed the character of the Filene's Basement unit during his tenure there, upscaling it from its bargain-basement position in a move that has proven to be a win-win situation for the store's customers and the parent company's shareholders.
In a presentation entitled "Breathing New Life Into Old Dogs," Wilansky recalled that, in 2002, Filene's Basement was a $280 million business that was "going nowhere." Although it had roots that reached back 95 years, it had begun "chasing sales to keep the volume up. We were floundering and not doing well."
The company's comparable-store...
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