Department Store

Grand Rapids, Mich. -- Meijer said Friday it has appointed J.K. Symancyk to the newly created role of COO. The grocery and superstore retailer has also hired Peter Whitsett as executive VP of merchandising and marketing.

Symancyk will report directly to Mark Murray, president of Meijer, and will have three direct reports: Janet Emerson, executive VP of retail operations; Rick Keyes, executive VP of supply chain and manufacturing; and Peter Whitsett, who is operating in the role previously held by Symancyk.

Stockholm, Sweden -- Swedish fast-fashion retailer Hennes & Mauritz reported Thursday that net profit for the fourth quarter dipped to $997.2 million from $1.1 billion in the year earlier period. Sales in December, the first month of H&M's fiscal first quarter, were up 13% year-on-year in local currencies, against a forecast 12%. Same-store sales were up 4%.

"Most indicators suggest that the macro-economic climate in many of our markets will continue to be tough during 2012," said CEO Karl-Johan Persson.

New York City -- The second day of J.C. Penney Co.’s launch event in New York City revealed the retailer’s long-term financial plans to generate profit and shareholder value while reinventing itself.

COO Mike Kramer outlined the company's financial outlook, including an enhanced profit formula derived from the simplified business model unveiled the day before, based on a new three-tier pricing strategy, newly organized promotions and an overhaul of the merchandise assortment.

I know it’s simply human nature to want the best of the best, and to prioritize top quality. And, it’s certainly no different in our industry. Lately, analysts and investors seem to be spending an awful lot of time and energy focusing on only the “top” properties and brands. I think they may be a bit short sighted and could even be missing out on some great opportunities. I’m talking about the ongoing debate between “A” and “B” malls.

London -- A report released Thursday by the Confederation of British Industry said that U.K. retail sales fell in January at the fastest pace in almost three years, reversing an increase in December when discounting by stores drew shoppers.

The gauge of annual sales growth fell to minus 22, the lowest since March 2009, from nine in December, according to the report.

New York City -- Ron Johnson, CEO of J.C. Penney, unveiled his hotly anticipated vision for the chain’s future on Wednesday. The chain is looking to transform itself and the entire department store shopping experience with a three-pronged pricing structure, far less promotional clutter, and in-store shops (as many as 80 to 100) within its stores.

Called the "fair and square" pricing strategy, the new model is designed to offer appealing initial prices that are not confused by multiple promotions, deep discounts and daily sales. 

PLANO, Texas and NEW YORK — JCPenney announced that it has partnered with fashion designer Nanette Lepore to bring her first teen-focused line to its stores. Inspired by her teenage daughter, the line "l'amour nanette lepore" will be available exclusively at JCPenney and will debut as its own distinct shop beginning February 2013.

NEW YORK— The transformation of JCPenney into America’ favorite store will begin with dramatically simplified pricing strategy and promotional cadence supplemented by an improved product presentation that will allow the 110-year-old company to regain its personality with a new generation of shoppers, according to CEO Ron Johnson.