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On the edge: An updated look at J.C. Penney and Best Buy
The retail industry, yours truly included, has had a watchful eye on J.C. Penney ever since CEO Ron Johnson took over and announced his plans to revamp the iconic retailer. Many experts have shared their concerns over the new direction and, as the second quarter numbers would indicate, cause for concern is clearly warranted. With overall sales plummeting nearly $1 billion dollars, and earnings plunging from an expected $41 million profit to an $81 million loss, the company is down $1.7 billion in sales and $260 million in earnings in the first half of the year, compared to 2011.
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Neiman Marcus names human resource chief
Dallas -- Neiman Marcus Group said Tuesday it has named Joseph Weber as senior VP and chief human resources officer, effective Sept. 4.
Weber joins the retailer from Bank of America Corp., where he was most recently head of human resources EMEA, Latin America and Canada.