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J.C. Penney cites improving sales in September; sees ample year-end liquidity
Plano, Texas -- J.C. Penney Co. on Tuesday said that it was making “solid progress” in its turnaround as it reported a smaller decline in same-store sales for September, compared to August. The company also said it expects that it will have ample liquidity at year end.
While Penney’s September same-store sales fell 4% over the same month last year, they showed an improvement of 580 basis points compared with August.
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Delhaize Europe CEO announces resignation
The CEO of Delhaize Group's European division has resigned, effective Oct. 31, according to the Belgian supermarket operator.
Delhaize said Stefan Descheemaeker had decided to resign as CEO of Delhaize Europe, though the company did not give a reason. Delhaize said that as a result of Descheemaeker's departure, Delhaize Group EVP and Delhaize Group Southeast Europe and Asia CEO Kostas Macheras would report directly to group CEO Pierre-Olivier Beckers, as would Delhaize Belgium CEO Dirk Van den Berghe, effective Nov. 1.