J.C. Penney Names Home Depot Executive as Its Next Chief - Hell need all the luck and skill he can muster. Penney is floundering! J.C. Penney on Monday named a Home Depot executive, Marvin Ellison, as president and as its next chief executive, tapping a seasoned retail hand as it struggles to assure investors that its most recent turnaround will be lasting. Hes African-American! In my opinion, this is evidence that when it comes to making money, race doesnt factor into the equation. In the latest fiscal year that ended Feb. 1, Penney recorded a loss of $1.39 billion, while revenue dropped 8.7 percent to $11.86 billion. And last week, Penney warned that its sales at stores open at least a year last month were weaker than expected. It also cut its outlook for sales at established stores for the current quarter. nytimes/2014/10/14/business/jc-penney-names-marvin-ellison-as-its-next-chief.html?ref=business
Posted on: Mon, 13 Oct 2014 22:54:03 +0000
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