Former J.C. Penney CEO says retail needs trade deal done by year’s end
May 24, 2019
Former J.C. Penney CEO Allen Questrom is hopeful that China and the U.S. will hammer out a trade agreement because “nobody benefits the longer this goes on.” A failure to reach a deal by the end of the year, he said, means “you’ve got a real problem.” Retailers have pointed to tariffs as a factor in recent negative earnings results, with Kohl’s reducing its forecast, in part, because of the ongoing trade dispute between the two countries.
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