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J.C. Penney names retail finance vet to replace CFO Hannah
Ed Record, a former finance executive with Stages stores, Kohl’s, Belk and Federated, has been appointed to replace Ken Hannah as CFO at J.C. Penney.
Hannah joined J.C. Penney less than two years ago under the leadership of former CEO Ron Johnson, a former Apple executive who pursued a costly transformation strategy that alienated customers and led to sharp sales declines. Johnson was ousted last April and former J.C. Penney CEO Myron Ullman was brought back to restore growth and undo much of Johnson’s handiwork.
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Home Depot prepares for its busiest season
Against the backdrop of a growing national debate over the minimum wage and part-time versus full-time workers, Home Depot has begun a huge seasonal hiring surge in preparation for spring.
The nation's largest home improvement retailer said it planned to hire approximately 80,000 seasonal employees, many of whom are part-time, the same day that President Barack Obama was expected to sign an executive order unilaterally increasing to $10.10 the minimum wage the federal government pays contract workers.