Warner Bros. has found a new cash cow in its worldwide retail division and will be opening 25-30 stores nationwide in ’93, according to Peter Starrett, division prez.
In anticipation of the expansion from its current 21 stores, three exex — Dennis Adomaitis, Barry Gilbert and Linda Gillen Postell — who have been with the retail division since its inception in 1990, have been promoted to senior veepees, effective immediately.
WB opened four stores in ’91 and 17 stores in ’92, each with about 30 employees. Starrett says the division’s instant profitability will lead to hiring another 750-900 employees for the new stores.
Starrett acknowledges that the marketing angle is important but that the financial returns are what guarantees the division’s future. “It’s a great marketing tool for the studios and a profitable new division, but if we didn’t have the latter we wouldn’t do it.”