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Video Tour: J.C. Penney CEO Unveils New Shops
Ron Johnson, CEO of J.C. Penney Co., gives a sneak preview of the company’s latest wave of brand shops, which will open in nearly 700 Penney stores nationwide on Sept 1. The new shops are dedicated to three brands: Liz Claiborne, IZOD and jcp – a new exclusive brand dedicated to high-quality fashion basics.
Click here for a video tour of the new shops. -
CityTarget love amid modest 2Q growth
Target’s second quarter sales increased 3.5% to $16.5 billion and the company’s profits grew 2.9% to $1.06, five cents better than analysts expected.
The company’s second quarter results were negatively affected by pre-opening expenses related to next year’s entry into Canada. Excluding those expenses, Target said its profits would have increased 4.6% to $1.12 compared to $1.07 last year. Including expenses related to Canada, Target increased its full year profit forecast to a range of $4.20 to $4.40 from an earlier guidance range of $4.10 to $4.30.