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Richard Favata is a seasoned retail executive with 20+ years of experience in leadership, sales operations, employee training, and store management. He has a proven track record of driving sales growth, improving profitability, and enhancing customer satisfaction. Favata has held senior leadership positions at Best Buy and Sears, including General Manager and District Sales Manager.

Experience

    • United States
    • Retail
    • 700 & Above Employee
    • Marketplace Director
      • Apr 2023 - Present

    • General Manager
      • May 2015 - Apr 2023

      Recruited back to Best Buy just 1 year after the elimination of the district sales manager position in May 2014. Rebuilt and turned around a store that was understaffed and underperforming in every area prior to arrival, ranking in the bottom quartile in the entire company in sales, comp’s, shrink, turnover and customer satisfaction. • Increased total annual sales (in-store and web sales) from $18.6M in 2015 to $23.3M in 2021• Reduced shrink from 0.66% in 2015 to 0.15% in 2021. Store has been exempted from taking Physical Inventory two of the last three years due to consistency in processes and exceptional shrink controls• Awarded several market/territory honors and company banners for top 10%, 20%, and 30% performance• Featured on the front cover of the company’s monthly business guide in recognition of extraordinary results• Identified, developed, and promoted 6 top performers to manager/supervisor/lead positions in the store• Consistently ranked among the best in the company on the diversity/inclusion scorecard, with 48% female representation. • District Training Leader for the non-supervisor level Women’s Development program and the supervisor and above Leader’s Development program.

  • Sears
    • San Antonio, Texas, United States
    • General Manager
      • May 2014 - Apr 2015
      • San Antonio, Texas, United States

      Took over a 200,000 square foot, high-volume, top-performing Sears department store after a major field restructuring at Best Buy eliminated the district sales manager position. Led 4 salaried managers and 10 department supervisors and 120 hourly employees. • Ranked in the top 3% in the entire company (784 stores) on the overall performance scorecard for the year• Recognized as one of 20 stores nationwide to post a positive Profit and Loss statement for the year

    • District Sales Manager
      • Feb 2009 - May 2014

      District Sales Manager (15 stores, $500M in sales) Feb 2012 – May 2014Promoted to oversee the entire connectivity business (computing, mobile phones, and Apple/Microsoft/Samsung pads) in San Antonio, Laredo, Rio Grande Valley, Corpus Christi, and Victoria Best Buy stores, the highest-volume and largest geographical district in the US. • Ranked in the top 10 company-wide (90 districts) every month on the overall performance scorecard• Ranked 1st in the company each year in sales – exceeded the sales plan while increasing comp sales by 5% per yearDistrict Sales Manager, Mobile Phones (30 stores, $300M in sales) Feb 2009 – Jan 2012Promoted to manage every facet of the growing mobile phone division in the largest geographical area in the company, extending from Central Texas to the Rio-Grande border. Oversaw 30 Best Buy stores in 2 different districts, including high-volume, high-profile locations in San Antonio and Corpus Christi, with full accountability for the overall performance of every mobile department. Developed, trained, and led a very talented team of 350, including 30 mobile managers.• Drove the 2 districts from 65th to 4th in the entire company (90 districts) on the overall performance scorecard• Consistently ranked among the best for profitability – averaged 112% of the profit budget in each store• Maintained exceptionally high standards in every store – averaged 85% overall customer satisfaction (CSI)• Drove employee engagement scores from 82% to 96% – ranked in the top 5 in the company• Developed and promoted 18 top performers to higher-level management positions within the company

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Industry Focus. “Retail”

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