Friedman’s restructures store organization and management

Jewelry retailer Friedman’s Inc., Savannah, Ga., said on Monday that it is restructuring the management organization of its 646 stores.

It will create a senior store operations team in Savannah and consolidate the company’s existing five divisional offices. Stuart Clifford, currently president of Friedman’s Midwest Division, has been promoted to the new position of senior vice president for store operations.

The major elements of this restructuring are creating a senior store operations team headquartered in Savannah and consolidating the Company’s existing five divisional offices. To lead the new store management organization, Friedman’s announced the promotion of Mr. Stuart C. Clifford to the newly created position of Senior Vice President, Store Operations. Mr. Clifford currently is President of Friedman’s Midwest Division, responsible for 167 stores.

“We believe these changes will enable us to communicate with our store associates more effectively, resulting in improved execution of our retailing formula and increased profitability,” Douglas Anderson, president and chief operating officer, said in a statement.

Friedman’s operates 426 stores in power strip centers and 220 were in regional malls. Crescent Jewelers, Friedman’s West-Coast affiliate, operates 155 stores in seven states, 100 of which are located in regional malls and 55 of which are located in power strip centers. On a combined basis the two companies operate 801 stores in 26 states and offer products online at www.friedmans.com and www.crescentjewelers.com.