j c penney
In a preliminary update on the holiday season, J.C. Penney revealed that its comparable store sales declined. The department store retailer also said it would close three stores and signaled that more store closings could be on the way as it reviews its strategies and store portfolio.
It was another tough quarter for J.C. Penney as sales for the three month period ended November 3 were down more than 5%.
J.C. Penney is introducing a new private label brand, Peyton & Parker, developed to help moms create effortless yet coordinated styles for family and home.
Furniture will be a key product category in J.C. Penney’s expanding baby product selection that will roll out to 500 stores.
Lowe’s has named Marvin Ellison president and CEO, effective July 2. He will also join Lowe’s board of directors at that time. Ellison succeeds Robert Niblock, who previously announced his intention to retire.
J.C. Penney’s third quarter comparable store sales came in above its own forecast as the department store retailer cited home products as among the top performers in the three month period ended October 28.
Hudson’s Bay Co. has appointed Edward Record as its chief financial officer.