J.C. Penney debuts new home department
Plano, Texas — J.C. Penney Co. on Thursday took the wraps off its highly anticipated new home department. More than 500 stores received a complete home department revamp, with updated flooring, accent lighting, custom fixturing and a widened pathway.
The new department is made up of a collection of in-store shops for popular designers, including Michael Graves Design, MarthaHome, Happy Chic by Jonathan Adler, and Design by Conran. Each shop-has its own distinct look with a size range of about 300 to about 800 sq. ft.
Penney’s home center revamp was key to former CEO Ron Johnson’s plan to transform Penney.
P&G reorganizes business units
CINCINNATI — Procter & Gamble has grouped its global business units into four industry-based sectors and placed Martin Riant, Deborah A. Henretta, David S. Taylor and Giovanni Ciserani as global heads of each to support the company’s current growth strategies.
“This sector organization and leadership team will help us operate more effectively and efficiently to continue momentum behind P&G’s growth strategies,” said chairman, president and CEO A.G. Lafley. “These changes build on the productivity and organization design work led by Bob McDonald, and will help us get closer to consumers and become more agile with customers.”
The businesses in each sector are focused on common consumer benefits, share common technologies and face common competitors. Each sector will be led by a group president.
Martin Riant has been named group president of global baby, feminine and family care. He will lead the sector in addition to his current responsibilities.
Deborah A. Henretta has been named group president of global beauty. This sector includes the global categories of beauty care, retail hair care and color, salon professional and prestige. Henretta will lead the sector in addition to her current responsibilities.
David S. Taylor, currently group president of global home care, has been elected group president of global health and grooming. This sector includes the global categories of shave care, Braun, oral care, health care and pet care. In addition to leading the sector, Taylor will assume additional responsibility for the pet care business, succeeding Jorge S. Mesquita, who is leaving the company to pursue outside interests. Charles E. Pierce, currently group president of global oral care, will also assume additional responsibilities for new business creation and innovation currently held by Mesquita. Pierce will report to Taylor for oral care and to Lafley for new business creation and innovation.
Giovanni Ciserani has been elected group president of global fabric and home care. This sector includes the global categories of fabric care, home care and power. Ciserani will lead the sector in addition to his current responsibilities. George Tsourapas, currently VP of fabric and home care for Central and Eastern Europe, Middle East and Africa, has been elected president of global home care and P&G professional, succeeding David Taylor. Tsourapas will report to Ciserani.
The four global presidents will report directly to Lafley. Presidents for each of the global business units included in each sector will now report to the respective sector group president. These changes are effective July 1.
“We expect this structure to facilitate faster global expansion of brand and product innovations to win with consumers,” Lafley added. “Sectors will also drive technical, commercial, financial and organizational synergies to improve results.”
Concurrent with these changes, P&G has elected Dimitri Panayotopoulos — currently vice chairman of global business units — as vice chairman and adviser to the chairman and CEO, likewise effective July 1. Panayotopoulos will continue to report to Lafley.
Melanie L. Healey, group president of North America and global hyper, super and mass channel, will also report to Lafley in addition to Werner Geissler, vice chairman of global operations, beginning July 1. This change reflects the size and impact of the North America market to P&G’s business. Geissler will continue reporting to Lafley as vice chairman of global operations, with particular focus on Western Europe and developing markets.
“This will strengthen our focus on go-to-market excellence in our core developed and developing markets,” Mr. Lafley said. “Taken together, these organization changes will help us operate better and faster as one unified team to win.”
Cold weather chills Jos. Bank’s Q1 results
HAMPSTEAD, Md. — JoS. A. Bank Clothiers’ reported net income for the first quarter of fiscal year 2013 of $8.1 million, a 45% fall from $14.8 million for the first quarter of fiscal year 2012.
Total sales for the first quarter decreased 2.6% to $196.1 million from $201.4 million in year-ago period.
Same-store sales decreased 8.5% and direct Marketing sales increased 12.6% in the first quarter of 2013 as compared to last year. Combined same-store and Internet sales for the first quarter of fiscal year 2013 decreased 6.4% when compared to the year-ago period.
“While we were able to control our expenses and improve our advertising efficiency in the quarter, our sales declined 2.6%, primarily in April. In addition, our gross profit margin was down primarily due to higher inventory sourcing costs and lower average selling prices due mostly to an increased percentage of sales of winter and other clearance products. Like many other retailers, we were also affected by the unseasonably cool weather which adversely impacted both our sales and gross profit margin,” stated R. Neal Black, president and CEO of JoS. A. Bank Clothiers.