OPERATIONS

J.C. Penney adds another Apple exec to its team

BY Katherine Boccaccio

Plano, Texas — On Thursday, J.C. Penney and CEO Ron Johnson announced a new lineup of executive players to join the department store retailer’s team, one of them from the ranks of Apple.

Benjamin Fay, senior director of retail real estate, design and development for Apple, has been named executive VP real estate, store design and development for J.C. Penney.

In his new role, Fay is charged with creating a new interface for retail through a Penney’s store of the future, as well as implementing the Shops strategy and the remodel and maintenance of all existing stores.

Fay will report directly to Johnson.

“Having worked with him over the last 12 years, I am delighted to see Ben step into this new role at JCP," said Johnson. "His design influence has made the Apple stores highly regarded retail destinations around the world, and I am excited to have Ben place his own mark on JCP as we re-imagine the J.C. Penney store of the future."

John Singleton has been appointed executive VP chief supply chain officer. Singleton previously worked for Abercrombie & Fitch, where he was responsible for distribution, transportation, trade policy and brand protection functions. Prior to that, he served as senior VP logistics and trade at Ann Taylor Stores.

Kristin Hays has been promoted to senior VP communications. Hays joined J.C. Penney in 2002 as a litigation attorney and held a variety of leadership positions within legal, corporate communications and investor relations, most recently as VP investor relations.

As well, Laura Sandall has been appointed VP events marketing and publicity and Michelynn Woodard as VP philanthropy.

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OPERATIONS

NRF: FTC should move cautiously on mobile payments

BY Staff Writer

Washington, D.C. — The National Retail Federation on Thursday urged the Federal Trade Commission to move cautiously in establishing regulations for mobile payments, and said any rules that are adopted should parallel those for the underlying form of payment and not be specific to the technology.

“Mobile technology and processes are just beginning to emerge and we won’t know which practices the public will like or what methods will provide new benefits until the technology begins to coalesce,” NRF senior VP and general counsel Mallory Duncan said. “The government should not impose regulations that would forestall yet-to-be-imagined advances and innovation in order to avoid potential ‘harm’ based largely on speculation.”

According to Duncan, some of the best innovations on the Internet today might have been suspect a generation ago but today “are benefits few consumers would want to live without.”

“Mobile might help retailers get to know their customers more like they knew their customers generations ago, and offer more personalized service,” he said, adding that federal officials need to address a number of issues including a definition of what constitutes a mobile payment.

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FINANCE

Liz Claiborne 1Q loss narrows, revenue beats

BY Katherine Boccaccio

New York — Liz Claiborne Inc. reported Thursday that it narrowed its loss in the first quarter to $60.6 million, compared with a $96.3 million loss in the year-ago period. Strong sales of the company’s Kate Spade and Lucky Brands goods strengthened the results.

Revenue for the period fell 4% to $317.1 million from $330.7 million, but beat Wall Street’s estimated $307.4 million in revenue.

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