Five things to watch in markets in the week ahead
ATLANTA - Vestis Corporation (NYSE:VSTS), a provider of uniforms and workplace supplies with annual revenue of $2.7 billion and a market capitalization of $668 million, announced on Wednesday two key executive appointments to strengthen its leadership team. According to InvestingPro analysis, the company appears slightly undervalued based on its Fair Value estimates.
Rod Wedemeier will join as Executive Vice President and Chief Human Resources Officer effective October 27, while Wendy Zacchio has been appointed Senior Vice President, Chief Information Officer and Chief Digital Officer, effective today. These appointments come as the company maintains a healthy liquidity position with a current ratio of 1.84, according to InvestingPro data.
Wedemeier brings over 25 years of human resources experience from Fortune 500 companies, most recently serving as Senior Vice President of Human Resources and CHRO at Mohawk Industries, a global flooring company with approximately $11 billion in revenue.
Zacchio, who has more than 25 years of technology leadership experience, previously served as Enterprise CIO at Zelis and held the position of CIO of International Markets at Cigna, where she oversaw technology across more than 30 countries.
"Rod is an accomplished HR leader with the experience and insight to help Vestis become an employer of choice through best-in-class recruiting and training. Wendy brings deep technological expertise and vision as we accelerate our digital and IT strategy," said Jim Barber, President and CEO of Vestis, in a press release statement.
The company also announced that Grant Shih, Executive Vice President and Chief Technology Officer, has left the company to pursue other opportunities.
Vestis provides uniform services and workplace supplies to North American customers ranging from Fortune 500 companies to small businesses across various sectors. While the company is not currently profitable, analysts tracked by InvestingPro expect it to return to profitability this year, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US stocks.
In other recent news, Vestis Corp reported its third-quarter earnings for 2025, which fell significantly short of analyst expectations. The company announced an earnings per share (EPS) of -0.01, contrasting sharply with the projected 0.35, resulting in a surprise of -102.86%. Revenue also missed the mark, coming in at $674 million, which is 13.67% below the anticipated $780.74 million. In a separate development, Vestis Corp’s Compensation and Human Resources Committee has approved special, one-time long-term incentive awards for selected executive officers and key employees. These Vestis Retention LTI Awards aim to support employee retention and were granted effective recently. The awards include time-vesting restricted stock units (RSUs) for several members of the executive leadership team, excluding Jim Barber, the President and CEO. These updates highlight Vestis Corp’s current strategies and challenges amidst its recent financial performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.