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Johnson out as CEO of J.C. Penney; Ullman back
New York -- Ron Johnson is out as CEO of J.C. Penney. In making the announcement, the company also said that that Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately. 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. -
Nordstrom expands push into Canada with second Toronto store
Seattle -- Nordstrom said Monday it will open a new namesake department store in Toronto in fall 2016, making its foray into the country a two-store debut.
The three-story, 188,000-sq.-ft. store planned for Toronto's Yorkdale Shopping Centre will join a previously announced, smaller store in the city's Sherway Gardens mall.