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4-Traders Homepage  >  Equities  >  Nyse  >  J C Penney Company Inc    JCP

Delayed Quote. Delayed  - 09/29 10:00:09 pm
9.25 USD   -3.14%
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JC Penney Unveils Team For Merchandising, Brand Strategies

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03/12/2012 | 10:06pm CEST

J.C. Penney Co. (>> J.C. Penney Company, Inc.) unveiled a number of executive promotions and appointments, including executives tapped from companies such as Apple Inc. (>> Apple Inc.), Target Corp. (TGT) and Kellwood Co., to lead the retailer's merchandising, partnerships and brand strategies.

"As we fundamentally re-imagine every aspect of our business, we're tapping into the best internal and external talent in the industry," President Michael Francis said.

The company promoted Liz Sweney to chief merchant. Sweney most recently served as executive vice president and senior general merchandise manager for the company's women's apparel, accessories, footwear, jewelry and juniors divisions.

The chief merchant spot was formerly held by Ken Hicks, who also served as Penney's president and left the company in 2008.

J.C. Penney named Brian Robinson, who most recently served as director of fashion and design partnerships at Target Corp. (TGT), as its new vice president for marketing and design partnership. Coach Inc. (>> Coach, Inc.) merchandising executive Anne Cashill was appointed senior vice president of strategic brands. Electronic Arts Inc. (EA) executive Steve Seabolt will join the company as senior vice president of strategic brand alliances. Katheryn Burchett and Bill Gentner were also promoted to senior vice president positions.

To lead the company's brand makeover, J.C. Penney named Kellwood Co. executive Eric Hunter to senior vice president of marketing. The company also promoted Greg Clark to senior vice president of creative.

Apple Inc. veteran Mike Fisher will join the company as senior vice president of visual presentation, to oversee its new store presentation format. J.C.

Penney is in the midst of a vast transformation under new Chief Executive Ron Johnson, who came to the company from Apple and has brought along a number of colleagues.

The retailer said in January it will adopt three pricing tiers: everyday prices, month-long values, and best prices, or clearance on the first and third Fridays of the month. The approach is a marked departure from the current percent-off, coupon, and limited-time promotions pervasive among department stores.

Shares closed at $37.51 Monday and were unchanged after hours. The stock is up 6.7% so far this year.

-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com

--Karen Talley contributed to this article.

Stocks mentioned in the article : Apple Inc., Coach, Inc., J.C. Penney Company, Inc.
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Financials ($)
Sales 2017 12 854 M
EBIT 2017 424 M
Net income 2017 -4,33 M
Debt 2017 3 381 M
Yield 2017 -
P/E ratio 2017 247,41
P/E ratio 2018 11,74
EV / Sales 2017 0,49x
EV / Sales 2018 0,44x
Capitalization 2 939 M
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 12,2 $
Spread / Average Target 27%
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Managers
NameTitle
Marvin R. Ellison Chairman, President & Chief Executive Officer
Edward J. Record Chief Financial Officer & Executive Vice President
Therace Risch Chief Information Officer & Executive VP
Robert Gerald Turner Independent Director
Leonard H. Roberts Independent Director
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