Supply Chain & Merchandising

New York -- J.C. Penney Co. on Wednesday said that CFO Michael Dastugue will depart the company, effective April 13. Dastugue, 47, has been at J.C. Penney since 1991. He was named CFO in January 2011. His departure is the latest shake-up in management as new CEO Ron Johnson works to transform the chain.

Mike Kramer, COO, will assume the CFO duties on an interim basis while a search for a replacement is conducted. Kramer joined J.C. Penney in December, shortly after his former boss at Apple Inc., Ron Johnson, became J.C. Penney's CEO.

DALLAS — Tuesday Morning reported net sales for the third quarter ended March 31 were $172.7 million compared with $174.3 million for the quarter ended March 31, 2011, a decrease of 0.9%. Comparable-store sales for the quarter ended March 31 decreased by 3.2% comprised of a 1.8% decrease in traffic and a 1.4% decrease in ticket.

Indianapolis -- Simon Property Group said Wednesday that, in partnership with Mitsubishi Estate Co., it began construction of Shisui Premium Outlets (Shisui Town, Inba District, Chiba Prefecture), the ninth Premium Outlet Center in Japan.

Phase I, comprising 234,000 sq. ft. of GLA, is scheduled to open in spring 2013 with approximately 100 stores, including international brands, Japanese brands and restaurants. Simon owns a 40% interest in the project.
 

TOPEKA, Kan. — Payless ShoeSource, a business unit of Collective Brands, has named Michele Bergerac SVP and general merchandise manager for Payless' women's and accessories businesses, reporting to LuAnn Via, president and CEO for Payless.

Bergerac will oversee product creation and merchandising for the Women's footwear and accessory collections, covering a range of categories including dress, sandals, casuals and boots for women, as well as accessories including handbags, socks and hosiery, scarves, jewelry and beauty and body products.  

Bentonville, Ark. -- Walmart announced six SolarCity projects on stores in Colorado, marking the company's 100th solar power installation in the United States and moving it closer to its long-term goal of using 100% renewable energy for all its retail and distribution facilities.

PLANO, Texas — Personnel changes are quite common these days at JCPenney, the latest involving CFO Michael Dastugue,  who is leaving the company effective April 13. The company has named COO Michael Kramer as interim CFO while a search for a new CFO is conducted.

New York -- Private equity firm Oak Hill Capital Partners has acquired an 80% ownership stake in the 25-store natural food chain Earth Fare. The deal values the company at $300 million.

Less than a year from today Target’s first stores in Canada open and the company encounters a familiar competitive challenge in Walmart as well as some unfamiliar operators.