Marketing

NEW YORK — JCPenney executives laid out further details of their strategy going forward during the chain’s quarterly conference call with investors. The call followed the release of JCPenney’s first quarter results, when it reported a worse-then-expected loss of $163 million, and a 19% drop in same-store sales.

JCPenney said it would launch a new private label apparel brand, jcp, for both men and women. The brand is set to debut in August.

New York -- Ann Inc.'s fiscal first-quarter net income increased a better-than-expected 5%, boosted by growing sales at its Loft division. The chain, which also operates Ann Taylor, said Friday that it earned $28.7 million in the three months through April 28, up from $27.3 million a year earlier.

Does J.C. Penney have time on its side? Or to put it another way: How long will investors wait for J.C. Penney’s transformation? Because, based on the chain’s awful first quarter, it doesn’t appear to have even taken root yet. I’m not surprised.

San Francisco -- Gap Inc. said Thursday that profit for the quarter ended April 28 was flat compared with the year-ago period, but its results beat Wall Street forecasts and prompted the retailer to raise its outlook for the year.

Gap reported a profit of $233 million for the first quarter. Revenue rose 6% to $3.49 billion, beating analysts’ estimated $3.46 billion in revenue, and same-store sales rose 4%.

CAMDEN, N.J. — Campbell's has tapped Walgreens' social media director to lead the soup maker's digital marketing and social media efforts.

Winnipeg, Manitoba -- Canadian denim company Silver Jeans Co. said Thursday it will expand its branded stores in the United States, and has created a new retail division to execute the strategy.

Silver Jeans Co. said it will launch the plan with a new store opening in early 2013, joining the only store currently open here at Park Meadows Mall in Denver.

New York -- Foot Locker Inc. said Thursday that current executive VP and retail group president Richard Johnson as been promoted to COO, giving the company veteran operational oversight of all the retailer’s banners. The appointment is effective immediately.

Along with its namesake Foot Locker stores, the company also operates Champs Sports, Kids Foot Locker and CCS.
 

Pleasanton, Calif. -- Ross Stores reported Thursday that net income for the first quarter surged 21% to $208.6 million, from $173 million in the same period last year.

Sales increased 14% to $2.4 billion, and same-store sales rose 9%.

“We believe that favorable weather across many of our markets also contributed to our above-plan performance," said Michael Balmuth, CEO, about the results.