J.C. Penney Co Inc late last year tapped Jill Soltau as chief executive officer ...
) late last year tapped Jill Soltau as chief executive officer to stem the decline in sales, the fifth leadership change at the department store operator in 15 years.She is tasked with a turnaround bid against the backdrop of a deteriorating brick-and-mortar retail landscape that has forced Toys ‘R’ Us Inc and Sears Holdings Corp to seek bankruptcy protection.
Reuters reported last month that the 117-year-old department store operator hired advisers to explore debt restructuring options that would buy more time for the money-losing U.S. retailer to forge a turnaround.- Introduced successful Sephora cosmetics shop-within-shop concept. Penney sales and market value reached all-time highs.
- Eliminated Penney’s catalog. Activist investor William Ackman called the company mismanaged under his tenure. - Ullman said sales and market value results spoke for themselves. Returned as CEO in 2013 after J.C. Penney suffered a tumultuous two years under replacement Ron Johnson.- The pioneer of Apple Inc retail outlets launched expensive renovations of Penney stores and eliminated coupons.- After sales fell 25%, Johnson conceded that his plan to abandon coupons and sales events was a mistake.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
For J.C. Penney CEO, debt haunts turnaround bidJ.C. Penney Co Inc’s stock has plunged more than 70% over the past year and now ...
Read more »
For J.C. Penney CEO, debt haunts turnaround bidJ.C. Penney Co Inc’s stock has plunged more than 70% over the past year and now ...
Read more »
Factbox: Kashmir's history: India's revoking of special status in contextThe Indian government on Monday revoked the special status of Kashmir in a bid t...
Read more »
Locarno Film Festival Opens Doors for Filmmakers From South-East Asia, MongoliaIn order to increase the impact of its industry support efforts Locarno Film Festival is doubling down on – and in fact trebling the duration of – its Open Doors activities. Instead of an annually …
Read more »
19 'Lazy Day' Outfits to Help You Run out the Door Quickly but FashionablyTake a look at some 'I just threw this on and ran out the door, but I still look really cute' lazy day outfits.
Read more »
U.S. farmers suffer 'body blow' as China slams door on farm purchasesChinese companies have stopped buying U.S. agricultural products, China's C...
Read more »