We're on Google+
Search
Tag Cloud
Accessories Amazon Asda Christmas Expansion & Franchise Fashion HR News High Street John Lewis London Marks & Spencer Media News Results Retail Retail and Consumer Industry Retail news Sainsbury's Store Tesco UK brand china consumer deal deals and rumours department department stores e-commerce electricals expansion fashion news food grocer group launch luxury morrisons my online online retail people profit property retail property retailer sale sales supermarket waitrose
J.C. Penney raises hopes with new ceo Monday, 22nd August 2011
It is thought confidence in the retailer is likely to improve as J.C. Penney gears up for a new ceo in November.
According to trade analysts, Ron Johnston, who is set to become ceo of the Texan company on 1 November, is thought to be likely to improve J.C. Penney’s revenue and profits.
In a client note filed Monday, Deborah Weinswig of Citi Investment Research stated:
"Moreover, Mr. Johnson's long-term commitment to the success of J.C. Penney, as demonstrated through his $50 million investment in 7.5-year warrants, may have increased Pershing Square's confidence in its investment," she wrote.
Apart from the impact of Johnston's arrival, J.C. Penney stock is currently down 22 per cent on last month’s figures.
Related Stories
Posted in Deals and Takeovers, fashion Tagged citi investment research, clothes, deborah weinswig, Fashion, j.c. penney, plano, Retail, ron johnston, shares, stock, texas
