Malhotra To Succeed Reiff As Container Store CEO

The Container Store said that Satish Malhotra will succeed Melissa Reiff as CEO and president on February 1, 2021. Effective March 1, 2021, Reiff will retire from the company, while retaining her position as chairwoman of the board of directors until the annual meeting of shareholders in late summer 2021.

J.C. Penney Loss Deepens In Q2

Although sales gained slightly in the second quarter, J.C. Penney’s loss expanded year over year, as the retailer pointed to a comp decline and the impact of a store closing initiative.