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J.C. Penney announces appointment of two more Apple veterans; swings to Q3 loss
Plano, Texas -- J.C. Penney Co. reported Monday a loss of $143 million for the quarter ended Oct. 29, compared with a profit of $44 million in the year-ago period. Sagging comps and shrinking margins led to the performance decline.
For the quarter, sales dropped 4.8% to $3.99 billion, reflecting the company’s exit from its catalog and catalog outlet businesses, which it sold off during the quarter.
As previously reported, same-store sales dipped 1.6%.
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Urban Outfitters restructures leadership
PHILADELPHIA — Urban Outfitters Monday announced leadership changes at Anthropologie, Terrain and Urban Outfitters.
David McCreight has been appointed CEO Anthropologie Group, effective Nov. 15. In this new role, McCreight will be responsible for Anthropologie North America, Anthropologie Europe and BHLDN.