Stop & Shop taps Mary Lynn Phillips as SVP of finance

Mary Lynn Phillips is joining Stop & Shop as senior vice president of finance.

Stop & Shop said Friday that Phillips, who comes to food retail after decades of financial experience in the luxury brands and retail arena, is slated to start in her new position on Dec. 3.

Most recently, she served as chief financial officer for Stuart Weitzman, part of in New York-based Tapestry Inc., which also owns the luxury lifestyle brands Coach and Kate Spade.

Quincy, Mass-based Stop & Shop noted that Phillips (left) comes to the company amid a multiyear program to upgrade the supermarket chain’s 400-plus stores in Massachusetts, Connecticut, Rhode Island, New York and New Jersey.

“We are incredibly excited to have Mary Lynn Phillips join the Stop & Shop team as we continue to reposition our brand for the future and build a strong foundation for growth,” Stop & Shop President Gordon Reid said in a statement. “Phillips’ leadership capabilities, along with her broad financial and operational experience in highly competitive markets, will help drive Stop & Shop’s financial performance in 2020 and beyond.”

Phillips’ over 30 years of experience includes development of strong financial disciplines for national retailers, according to Stop & Shop. Before joining luxury footwear brand Stuart Weitzman in September 2016, she was a financial consultant for luxury women’s apparel brand Eileen Fisher and the CFO of prestige apparel retailer Talbots from 2013 to 2015. Prior to those posts, she served as senior vice president and CFO for North America and as vice president of finance and operations at accessories brand Coach Inc.

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Her background also includes finance, operations and real estate roles at L Brands Inc. (owner of Victoria’s Secret) and Federated Department Stores. She started her career as senior auditor at Ernst and Young.

Part of Ahold Delhaize USA, Stop & Shop last year kicked off a five-year capital spending plan — estimated at $1.6 billion to $2 billion — to refresh all of its stores. The initiative includes a modernized store format and a new logo that reflect a more customer-centric strategy based on convenience, particularly a wider array of fresh, fast, healthy and local food options. Stop & Shop unveiled the first remodels in October 2018 at 21 stores in the Hartford, Conn., area and in September 2019 held grand reopenings at 21 upgraded stores in Long Island, N.Y. Plans call for 60 to 80 stores to be upgraded annually under the program.