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New Brookstone CEO named after sales decline

James M. Speltz

James M. Speltz

Less than a year into the job, Brookstone Inc.’s chief executive Stephen Bebis has resigned from the New Hampshire electronics chain after the retailer recently reported disappointing sales.

On Thursday, James M. Speltz, who previously served as the company’s chief operating officer, took over as president and chief executive.

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The departure of Bebis, who founded Golf Town, comes several days after Brookstone reported net sales in the fourth quarter fell 8 percent to $233 million and sales at stores open at least a year slid 3.5 percent.

“I look forward to building upon the strength of the Brookstone brand, continuing the significant progress we have made over the past few years, and expanding upon our business development initiatives,” Speltz, who has worked for Brookstone since 1998, said in a statement. He has been a key driver of the company’s revenue initiatives in retail, e-commerce, and wholesale, said Jackson Tai, Brookstone’s board of directors chairman.

Jenn Abelson can be reached at Follow her on Twitter @jennabelson.
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