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Cache names new CFO
New York -- Cache Inc. announced that Anthony DiPippa (“Tony”) will join the company as executive VP, CFO, on Aug. 7. He succeeds Margaret Feeney (“Maggie”), who has resigned from Cache, effective Aug. 1.
DiPippa most recently was CFO of W. B. Mason, a $1.2 billion office products and furniture company. -
J.C. Penney denies credit squeeze
New York -- J.C. Penney on Thursday said that reports claiming CIT Group Inc., the largest lender in the apparel industry, had stopped funding some shipments to Penney were untrue. The retailer said it has plenty of cash on hand and all major suppliers were still shipping.
“J.C. Penney continues to have the support of all of its key vendors, who have maintained their shipments to the company," the company said in a statement on Thursday.