Promotes three executives; discontinues search for a new president
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JCPenney Co. Inc. (Plano, Texas) announced the promotion of three executives as part of a new senior merchandising leadership structure. Chairman and ceo Myron Ullman says the newly organized senior merchandising team will be led by Jeffrey Allison, Steven Lawrence and Elizabeth Sweney, each of whom will now have the title executive vp and senior general merchandise manager. Under the new structure, Allison will lead home, custom decorating and fine jewelry; Lawrence will handle children's and men's; and Sweney will oversee shoes and women's accessories and apparel.
The company says that consistent with this plan for the coming years, its board of directors has decided to discontinue its search for a president. Ken Hicks, the retailer’s former president and chief merchandising officer, left in June to serve as ceo of Foot Locker Inc.
In recent years, the moderate-price department store has launched several private and exclusive brands across merchandise categories, including a.n.a, Bisou Bisou, nicole by Nicole Miller, Allen B, Decree, Linden Street, Cindy Crawford Style and JOE Joseph Abboud. The company also added Sephora inside JCPenney and American Living by Polo Ralph Lauren's Global Brand Concepts. MNG by Mango and Liz Claiborne also recently announced that JCPenney will be the exclusive department store for both apparel brands in the U.S.
Last week, JCPenney reported a 5.9 percent drop in same-store sales and a 5.2 decline in total sales for the month of November 2009.
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