Ackman on J.C. Penney: Wait until August
New York — William Ackman, founder and CEO of Pershing Square Capital Management, said that J.C. Penney Co. should start to see “real progress” in early 2013. Ackman made his comments in an interview Tuesday on CNBC’s “Squawk Box.” Pershing Square owns about 18% of J.C. Penney.
Ackman, who has been steadfast in his support of CEO Ron Johnson’s ambitious reinvention of the chain, said that changes will start to become noticeable in Penney stores in August when new merchandise begins to make its way onto the sales floor.
Ackman also emphasized that it “takes time to educate the customer.”
"Ultimately, time is your friend when you look at strategy change," he said. “Eventually, people are going to get it."
Nicole by OPI to launch five new fall shades exclusively at Target
NEW YORK — Nicole by OPI is launching new fall shades of nail lacquer exclusively at Target this fall.
“Nicole by OPI is excited to bring the fashion-forward Target guest new lacquers for the fall season,” stated Suzi Weiss-Fischmann, Nicole by OPI EVP and artistic director. “Not only do the shades add the final touch to runway trends, the shimmery finish [also] adds elegance and depth to these trendy colors.”
The richly pigmented formulas come in shimmering shades of deep blue, gold, purple, mauve and green.
The new Target exclusive shades will be available in August for $7.04 each at select Target stores and online at Target.com.
A fitting finish for 50th anniversary
Target couldn’t have written a better script for last weekend’s Indianapolis 500, won by Dario Franchitti in the number 50 Target Honda.
Fans of the IndyCar racing series know that Franchitti’s Honda normally bears the number 10, but in recognition of Target’s golden anniversary the car and his uniform bore the number 50. Franchitti had won the Indy 500 on two prior occasions so the fact that he was running well throughout the day was no surprise.
The race featured more lead changes than any 500 ever, numerous accidents and at one point Franchitti spun his ride during a pit stop when he was bumped from behind.
It didn’t matter because he worked his way through the field and was in position to win on the final lap when he withstood a pass attempt by driver Takuma Sato who spun out. That enabled Franchitti to win the race while Target Chip Ganassi team mate Scott Dixon finished second in one of the more spectacular Indianapolis 500’s in recent memory.
To watch race highlights and a recap of the action, click here.