President of Gottschalks Chain Resigns

Stephen Furst has announced that he is leaving his job as president of the Gottschalks department store chain. Furst cited “professional and personal reasons” for his decision but did not elaborate. Furst, 53, said the chain was not profitable when he became president in 1993 but now “is in the black.” Last week, Gottschalks reported a $1.8-million profit for the 1996 fiscal year after losses in 1992, 1993 and 1995. Gottschalks Chairman Joe Levy said it was Furst’s decision to leave. Fresno-based Gottschalks operates 35 department stores and 22 specialty-clothing stores in California, Washington, Oregon and Nevada.