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Report: Ackman backing down in latest Penney drama
New York -- Activist investor Bill Ackman of Pershing Square Capital Management plans to abandon his push for a quick replacement to J. C. Penney CEO Mike Ullman, according to the New York Post. The report says that it now appears that Penney will proceed with a more deliberately paced search for a replacement for Myron Ullman, who assumed the role of interim CEO in April in the wake of Ron Johnson's firing.
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Catalog Spree expands men's section of mobile shopping app
LOS ALTOS, Calif. — Catalog Spree, a personal digital mall that lets consumers browse and shop their favorite catalogs, has expanded the men’s section of its mobile app to include lookbooks featuring Kenneth Cole, Original Penguin, Perry Ellis and Thomas Pink.