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Plano, Texas -- As part of its strategic transformation program, J.C. Penney Co. said Monday that it has made several new hires and promotions at the executive level.

To lead merchandise strategy, Liz Sweney has been promoted to chief merchant and will lead the reinvention of the retailer’s apparel and home portfolio. Sweney most recently served as executive VP and senior general merchandise manager of women's apparel, accessories, footwear, jewelry and juniors divisions, as well as Sephora inside J.C. Penney.

PLANO, Texas — JCPenney understands that transformation doesn't happen over night and that finding the right people to implement its strategy takes careful planning. The company's latest personnel changes come in the areas of merchandising, brand partnerships, brand makeover and store experience.

By Kyle Priest, [email protected]

Pinch yourself: We really do live in a real world where sometimes you just need to touch stuff.

Plano, Texas — J.C. Penney Co. has named Laurie Beja Miller as executive VP The Square, a position in which she will lead the company’s efforts to execute its new center core strategy. The appointment follows J.C. Penney’s previously plans to transform its stores by adding some 100 in-store branded shops and converting the center of its stores to a “Town Square” area that offer various services.

PLANO, Texas — JCPenney is looking to make its department store a destination for more than just shopping, and has named a new executive to help lead the charge. Assuming the role of EVP, The Square is Laurie Beja Miller, who will oversee the company's new center core strategy that will serve as a gathering place with ongoing attractions and services, JCPenney announced. Miller will join JCPenney on April 1, and report to CEO Ron Johnson. 

Dallas -- J.C. Penney Co. swung to a loss of $87 million in the fourth-quarter, compared with a profit of $271 million in the year-ago period. The chain’s results were dragged down by restructuring and management transition charges, as well as costs tied to its new pricing strategy.

Minneapolis -- Target Corp. reported Thursday that profit for the quarter ended Jan. 28 slid 5.2% to $981 million, from $1.04 billion in the prior year.

Revenue increased 3.3% to $20.94 billion, missing Wall Street’s expected $21.23 billion in revenue. Same-store sales rose 2.2%.

Heavy discounting during the holiday season cut into fourth-quarter profits, but Target still is forecasting a full-year profit outlook that beats analysts’ expectations.

Retailers should expect online purchases to become a bigger piece of retail sales, particularly in the key fourth-quarter period, where they could soon represent as much as 20% of holiday sales, according to Sucharita Mulpuru, VP and principal analyst, Forrester Research, and a leading expert on e-commerce and trends in the online shopping space.

“The pie for bricks-and-mortar retail is shrinking,” Mulpuru said during a presentation at the National Retail Federation’s 101st Annual Convention & EXPO in New York City.