Modell's Sporting Goods said President Seth Horowitz is stepping down from his position, effective immediately, to pursue other business opportunities. Horowitz had been with Modell's for three years and was promoted to president of the Northeast sporting goods chain in January 2009. Mitchell Modell, chief executive, will assume Horowitz's responsibilities.
“Seth has been a tremendous asset to Modell's Sporting Goods over the past three years,” said Modell. “His leadership, dedication, vision and creativity have benefited the company in so many ways, specifically with our companywide 'Rebirth' initiative which began last year. We wish him the very best in his future endeavors.”
“I am grateful for the opportunity and it has been an extremely rewarding experience at Modell's Sporting Goods,” said Horowitz. “I have had the pleasure of working with a great team of people at Modell's and am very proud of the work we have done to reinvigorate the brand among consumers and industry leading brands.”
Horowitz was credited with revamping the 122-year-old chain's stores last year. Overall, 90% of stores were redesigned to better accommodate shoppers. In August, Modell's opened a redesigned, two-level, 20,000-square-foot Times Square flagship. Last summer, its first two stores were also opened on the Upper West Side.
Yet, according to Crain's NY, Modell's saw a decline in revenue last year, to $567.7 million, down 10.8% compared with 2009. Modell's declined to confirm the figures.
Horowitz, former CEO and president of Everlast, joined Modell's as executive VP-merchandise, advertising, marketing, planning and allocation in January 2008.
Founded in 1889, Modell's has 144 stores in the Northeast across New York, New Jersey, Pennsylvania, Connecticut, Rhode Island, Massachusetts, New Hampshire, Delaware, Maryland, Virginia and Washington, DC.
