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Best Buy names COO of Canada ops
New York -- Best Buy Co. named Ron Wilson as president and COO of its Canadian operations, effective immediately. Wilson will lead the business in Canada under the Future Shop and Best Buy online brands.
As SVP merchandising and e-commerce since 2008 for Best Buy Canada, Wilson led the strategic visions of Bestbuy.ca and Futureshop.ca. Wilson previously managed several other units within Best Buy Canada, including merchandising, operations and marketing.
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J.C. Penney’s problems mount
New York -- Vornado Realty Trust is selling 10 million shares of J.C. Penney Co. in an unregistered secondary transaction, according to reports by CNBC and other media outlets.
Deutsche Bank is shopping around the sale of the Vornado shares, according to the report.
Vornado is Penney’s third-largest shareholder controlling some 8.5% of the company. Vornado chairman Steven Roth sits on the company's board.