Academy Sports hires former Francesca’s CEO
Academy Sports + Outdoors has hired former Francesca’s Chief Executive Steven Lawrence as executive vice president and chief merchandising officer.
The athletic retailer announced the hire Tuesday, less than a week after Lawrence resigned from the struggling women’s apparel and accessories chain. In his new role, Lawrence will oversee the company’s buying, planning and allocation, and pricing and sourcing departments. He starts at the Katy retailer on Feb. 11.
“We are very excited to have someone of Steve’s caliber join Academy,” Ken Hicks, Academy’s chairman and chief executive, said in an e-mailed statement. “We have a strong leadership team, and the addition of Steve will only make it stronger.”
Lawrence replaces Michelle Gloeckler, a former Walmart executive who was brought on by Academy as chief merchandising officer in August 2016. An Academy spokesman did not say whether she was still employed by the company.
Lawrence served as Francesca’s chief executive from September 2016 until Jan. 31. Under his leadership, the Houston-based retailer hired new merchandising officers, began remodeling dozens of stores, rolled out a loyalty rewards program and invested in social media influencers to attract customers.
Those efforts have so far failed to draw customers to the struggling chain. Although the Thanksgiving shopping weekend provided a temporary boost, foot traffic to Francesca’s stores fell by around 15 percent over the past six months.
During Lawrence’s tenure, Francesca’s stock fell from $21.19 in December 2016 to less than $1 last December. Its shares were up 23 percent to $1.02 in Tuesday trading.
Prior to Francesca’s, Lawrence was the chief merchandising officer for Houston-based Stage Stores from May 2012 to September 2016, and a merchandising executive at Plano, Texas-based J.C. Penney for 12 years prior. Lawrence got his start in the retail industry at Foley’s, a Houston department store chain that went out of business in 2006.
A longtime Academy customer and Texan, Lawrence said he has a “deep passion” for the sports retailer’s brand. Academy last year hired Ken Hicks, former head of Foot Locker, to push back against growing competition from discount stores, e-commerce and other sports retailers such as Dick’s Sporting Goods.
“I am humbled and thrilled to join the company in its mission to provide fun for all through strong assortments, value and experience,” Lawrence said in a statement. “I look forward to driving Academy toward its tremendous growth potential working alongside a strong leadership group, team members and supplier community.”