FINANCE

Best Buy hires former Willilams-Sonoma exec as CFO

BY Staff Writer

Minneapolis — Best Buy has hired Sharon McCollam, formerly CFO of Williams- Sonoma Inc., as CFO, beginning Dec. 10.

McCollam, 50, had been COO and CFO at the home goods retailer before retiring. She also takes the title of chief administrative officer at Best Buy.

McCollam replaces James Muehlbauer, who said he was leaving in October. Muehlbauer will continue to advise the company until the end of the fiscal year in February.

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OPERATIONS

J.C. Penney to celebrate Black Friday with its ‘only sale’ of the year

BY Marianne Wilson

Dallas — J.C. Penney announced it will celebrate Black Friday with its only sale of the year. The retailer said more than 1,100 J.C. Penney stores will open their doors at 6 a.m. on Black Friday to offer low prices on gifts for the entire family — with no coupons or rebates required. Associates throughout the store will be equipped with mobile checkout devices.

“Black Friday is America’s greatest shopping tradition and we’re celebrating the occasion with our only sale of the year,” said Ron Johnson, CEO. “It’s our way of kicking off the holiday season and saying, ‘Merry Christmas, America!’”

Throughout the holiday season, J.C. Penney associates will hand out more than 80 million buttons to customers at J.C. Penney stores — no purchase required. Each collectible button features one of 50 classic designs and whimsical expressions reflecting wonderful holiday traditions. A unique code on the back can be entered online at jcp.com/christmas for a one in four chance of winning a gift.

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REAL ESTATE

Jones Lang LaSalle to help Time Warner Cable with launch of six California stores

BY Staff Writer

Los Angeles — Jones Lang LaSalle has been selected by Time Warner Cable to handle project management for the development of the firm’s six new retail stores in Southern California. The new stores are expected to open over the next six months.

Jones Lang LaSalle provides project management, which will include lease negotiation, strategic planning, site selection, budgets, and scheduling. Additionally, it will provide program management including assisting TimeWarner Cable to roll out a national program of the new store format in 26 stores including the selection of contractors, services and products.

“Jones Lang LaSalle is the perfect partner for us — ensuring that we will complete this project on time and within budget," said Debi Picciolo, regional VP operations, Pacific West, Time Warner Cable. "We are committed to providing cable stores that meet our customers’ needs in terms of convenient locations as well as products and services."

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