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Food retail expert assumes interim CEO role at 99 Cents Only
CITY OF COMMERCE, Calif. — Former Food Lion CEO, and current board member for 99 Cents Only Stores, Richard Anicetti, is assuming the role of interim CEO for the discount retailer. In addition, Michael Fung will join the company as interim chief administrative officer overseeing finance, information technology, real estate and various administrative functions of the company.
In connection with the foregoing changes, Eric Schiffer, Jeff Gold and Howard Gold are no longer employed by the company.
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NY Post: J.C. Penney’s Johnson pushes vendors to inflate pricing
New York -- In a Thursday report by the New York Post citing unnamed sources, the publication said that J.C. Penney CEO Ron Johnson is pushing some of its vendors to inflate their pricing so that the department store’s retail pricing appears lower than it actually is.
Sources told The Post that the plan includes putting up signs and fixturing to display fabricated retail pricing, while the merchandise is then tagged with J.C. Penney’s own lower prices.