JCPenney cuts Q2 loss, appoints general merchandise manager for home division

J. C. Penney Company, Inc. has announced that net loss for the second
quarter was 48 million dollars or 15 cents per share compared to 101
million dollars or 32 cents per share in the same period last
year. Adjusted net loss was 56 million dollars or 18 cents per share
compared to 120 million dollars or 38 cents per share, last year. The
company also announced the appointment of Stacey Shively, a senior
executive with nearly 25 years of retail merchandising experience, as
Senior Vice President, General Merchandise Manager for its home division,
effective September 9, 2019.

“I am pleased with the results we delivered this quarter and the
progress we are making against our plan. While we still have work to do on
our topline, I strongly believe that growing sales in an unprofitable way
is simply not an option,” said Jill Soltau, Chief Executive Officer of
JCPenney in a statement.

For the quarter, total net sales decreased 9.2 percent to 2.51 billion
dollars compared to 2.76 billion dollars for the quarter ended August 4,
2018. The company added that comparable sales decreased 9 percent for the
quarter, while excluding the impact of the company’s exit from major
appliance and in-store furniture categories, comparable sales decreased 6

Stacey Shively to join JCPenney as SVP, General Merchandise

Reporting to Michelle Wlazlo, Executive Vice president, Chief Merchant,
Shively will be responsible for overseeing the company’s home merchandising
strategies that span product categories including bedding and bath, window
coverings, small electrics, cookware and tabletop, mattresses, home
electronics, luggage, seasonal and home décor.

READ  From Laser To Radiofrequency, Meet The New Multi-Layered Facials Of 2019

The company said, Shively comes to JCPenney from Bluestem Brands where
she most recently served as senior vice president of merchandising,
overseeing a broad selection of name-brand and private label general
merchandise for a portfolio of national multi-channel retail brands,
including Gettington and Fingerhut. Prior to Bluestem Brands, Shively was
vice president of merchandising for Deal$, a chain of discount variety
stores owned and later re-branded by Dollar Tree. She began her retail
career at Target Corporation where she spent 17 years assuming various
positions of increasing responsibility within merchandising, negotiations,
inventory and planning, stores and across business lines including home,
men’s, women’s and infants.


Leave a Reply