Financial/Banking

As the turmoil with hedge fund manager Bill Ackman winds down at J.C. Penney, another of the company’s investors is making headlines. This time it’s George Soros, who according to regulatory filings, has added two million shares to his current 19.98 million in Penney holdings.

This latest venture makes Soros Fund Management Penney’s second-largest investor — behind Ackman.

New York -- As turmoil continues to surround J.C. Penney, one investor is upping his support of the embattled retailer even as two other large investors leave. Regulatory filings on Wednesday revealed that billionaire investor George Soros has added two million shares to his current 19.98 million in Penney holdings.

The latest investment makes Soros Fund Management Penney’s second-largest investor, behind disgruntled hedge fund manager Bill Ackman.

Little Rock, Ark. -- Dillard’s saw net income rise to $36.5 million in the quarter ended Aug. 3, compared with $31 million in the same period last year.

Revenue was flat at $1.48 billion and same-store sales edged up 1%, boosted by strength from ladies accessories and lingerie.

“Positive comparable store sales and gross margin expansion combined with continued expense control enabled us to report another quarter of year over year improvement,” said CEO William T. Dillard II.

NEW YORK — The Carlyle Group has appointed former Procter & Gamble executive Susan Arnold as an operating executive in the firm’s Global Consumer & Retail group. Arnold begins her new role at the firm in September. 

As an operating executive, Arnold will provide strategic guidance to Carlyle professionals throughout the investment process, from sourcing to acquisition to exit and advise portfolio company executives on management, operational, branding and growth strategies.

J.C. Penney said activist investor Bill Ackman resigned from the company’s board and was replaced by former Federated Department Stores executive Ron Tysoe.

New York -- Jos. A. Bank Clothiers on Tuesday came under criticism from BeaconLight Capital LLC, which owns more than 1% of the men’s apparel chain. In an open letter to the company’s board, the investment manager called for a reorganization of the retailer's board and return of cash to shareholders, preferably through buy-backs.

NEW YORK — Gilt, an online shopping website, has appointed Tracey Weber as chief operating officer, effective September 3. Weber joins Gilt from Citibank, where she was the managing director, North America Internet and mobile and global product.  

In her role as chief operating officer, Weber will have responsibility for many of Gilt's operations, including Gilt City, international, customer service and merchandise planning; she will also oversee several new strategic initiatives. Weber will report directly to CEO Michelle Peluso.

New York -- Online shopping site Gilt has appointed Tracey Weber as COO, effective Sept. 3.  She will have responsibility for many of Gilt's operations, including Gilt City, international, customer service, and merchandise planning, as well as oversee several new strategic initiatives.
   
Weber joins Gilt from Citibank, where she was the managing director, North America Internet and mobile and global product.