Tween Brands Unit President Resigns
New Albany, Ohio Tween Brands Inc. on Thursday said Limited Too president Jill Dean resigned effective immediately. The company is seeking her replacement.
Lece Lohr, currently Limited Too’s executive VP of design, will serve as executive VP and interim GM for Limited Too.
JCPenney reports Feb. comps drop
PLANO, Texas JCPenney today reported that comparable-store sales decreased 6.7% for the four weeks ended March 1, compared with guidance for a low-single digit decrease. In last year’s February period, comparable-store sales increased 1.5%. Total sales in February decreased 4.4%.
JCPenney said that women’s and children’s apparel and family footwear were the best performing merchandise divisions for the February period. The company also commented that its new American Living concept has “enjoyed a good initial customer response.” Home categories and the Southeast region continue to experience the softest results, the company reported.
JCPenney said it expects a low-single digit increase in March comparable-store sales. This is compared to an 11% increase in last year’s period. Total sales for the March period are expected to be about flat.
Target meets Feb. comps goals
MINNEAPOLIS Target today reported that its net retail sales for the four weeks ended March 1 increased 5.9% to $4.4 billion from $4.1 billion for the four weeks ended March 3, 2007. On this same basis, February comparable-store sales increased 0.5%.
“Our comparable store sales performance in February was in line with our planned range,” said Bob Ulrich, chairman and chief executive officer of Target.
Target had called for February comps to be down 1% to up 1%.