Former CEO says Penney needs a merchant in the top job
May 25, 2018
Former J.C. Penney CEO Allen Questrom thinks it’s time for the department store retailer to find a new leader with the skills to drive top line growth. Penney’s current CEO, Marvin Ellison, unexpectedly announced this week that he will be leaving in July to join Lowe’s. Mr. Ellison has had some success paying down Penney’s debt and improving its supply chain efficiency, but has not been able to substantially raise revenues. The company’s share price has fallen 50 percent over the past year.
Recent News
New LEGO Technic Summer Sets Revealed
Summer is upon us, and so are the latest LEGO Technic sets.
Snapchat Reveals Latest AR and ML Tools for Brands and Advertisers
Snapchat has introduced a range of new augmented reality (AR) and machine learning (ML) tools created to assist brands and advertisers in engaging with users on the social platform through interactivity.
Ground Beef Sold at Walmart Recalled for E. Coli Contamination
The beef, sold at Walmart and other retailers, is from Cargill Meat Solutions.
Carvana Shares Rise 30% as Pre-Owned Car Seller Reveals Record First Quarter
Shares for Carvana shot up by over 30% after it reported record results and made a profit in the first quarter.