Retail News

New Penney CEO under pressure after same-store sales flop

The Dallas Morning News 11/15/2018

Jill Soltau only became J.C. Penney’s CEO a month ago. Now, she and her team are trying to figure out how to fix the department store chain as quickly as possible following a third-quarter in which Penney reported a same-store sales decline of 5.4 percent and a loss of $151 million. Penney has suspended its previous annual guidance while the new team under Ms. Soltau has time to “assess and address current and go-forward execution of the business.”

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