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Ackman on JCPenney: Wait until August
NEW YORK — William Ackman, founder and CEO of Pershing Square Capital Management, said that J.C. Penney Co. should start to see “real progress” in early 2013. Ackman made his comments in an interview Tuesday on CNBC’s “Squawk Box.” Pershing Square owns about 18% of JCPenney.
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Dick’s takes a run at new format
PITTSBURGH — Dick’s Sporting Goods plans to open a new format focused on runners later this summer.
The new concept called True Runner will be located on Walnut Street in an affluent area of Pittsburgh known as Shadyside, the company said. Dick’s offered no additional details on the opening date, store size or product assortment, but it is clear from the limited comments made by a company executive that the store will focus on running enthusiasts.