Retail

By Robert Passikoff, president, Brand Keys

In 2000, the average tenure of a CEO was 10 years. In 2008, it was down to eight and half, signaling a slightly higher degree of corporate and brand accountability by boards and shareholders. Ron Johnson, the now former-CEO of J.C. Penney, only lasted 17 months.

SEATTLE — Online shoe retailer, OnlineShoes.com, announced that four in-vogue fashion bloggers will each design a pair of customized 993 Running Shoes by New Balance, and readers will vote on who did it best.  At the end of voting, the winning design will go into production and be sold by OnlineShoes.com as limited-edition footwear. Voters can also enter for a chance to win a pair of custom New Balance running shoes. The contest runs from Tuesday, April 9 through Friday, April 19, 2013.

New York -- J.C. Penney Co.’s shares fell 12% on Tuesday to close at $13.93, and nearly reached their lowest levels since 2001, Reuters reported.

It was a rough day for Penney as industry analysts debated the surprising decision to replace ousted CEO Ron Johnson with his predecessor, Myron “Mike” Ullman.

ARLINGTON, Va. — The Retail Industry Leaders Association said Monday via a written letter to the House Ways and Means Committee that all corporate tax preferences need to be “put on the table” so that politics can be neutralized and progress can be made.

NEW YORK — Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately, replacing Ron Johnson, who is leaving the company. Ullman, who served as CEO of Penney until late 2011, has also been elected to the board of directors.

Johnson’s departure was not all that unexpected given the chain’s mounting losses and sales declines. But it was still a stunning reversal of fortune for the former golden boy of Apple, who left the tech giant amid great fanfare for the top job at Penney.

Fremont, Calif. -- Men’s Wearhouse has launched a new mobile website that allows shoppers to interact with the brand while on the go. Users can browse Men’s Wearhouse’s full list of in-store offerings, locate their nearest store and design the perfect tuxedo for any occasion with the Build-A-Tux feature, which allows users to choose from 96 different vest and bowtie colors and customize their tux with the aid of pre-styled looks that are easily saved for later or shared with friends and family.

DALLAS — Alliance Data Systems Corp. announced its retail services business has signed a long-term agreement to provide private label credit card services for Barneys New York.

New York -- OfficeMax and Office Depot on Tuesday announced they have formed a search committee to select a CEO for the combined company. They also said they have received a request for more information from the Federal Trade Communication about their planned merger.