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Two more executives exit J.C. Penney
New York -- J.C. Penney announced Thursday that its COO Michael Kramer has resigned, along with chief talent officer Daniel Walker – bringing Penney’s April executive casualty number to five. Both resignations had been previously reported.
Kramer’s resignation was disclosed via a Securities and Exchange filing. He walked away with a $2+ million cash payment.
The two latest resignations follow CEO Ron Johnson’s departure last week, along with product development lead Nick Wooster and marketing VP Sissie Twiggs. -
Under Armour powers ahead
Strong sales of new products and fleece allowed athletic performance brand Under Armour to grow sales 23% to $472 million during its first quarter ended March 31.
Despite the solid increase in sales, the 12th consecutive quarter of revenue growth in excess of 20%, net income tumbled 47% to $8 million, or 7 cents a share, due largely to the timing of marketing expenses associated with the company’s largest ever global marketing campaign.