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J.C. Penney profit jumps 36%
Dallas -- J.C. Penney Co. said that its fourth quarter profit rose 36% to $271 million, helped by cost controls and improving sales in such areas as men's apparel, women's accessories and beauty products from in-store Sephora boutiques. The retailer also announced plans to buy back $900 million of its shares, starting next month.
Revenue in the three-month period ended Jan. 29 rose 2.8% to $5.7 billion. Same-store sales were up 4.5%.
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Kroger promotes two finance executives
CINCINNATI — Kroger has announced the appointment of Cindy Holmes to director of investor relations and Carin Fike to director and assistant treasurer. Both changes will be effective March 6.
Fike will report to Kroger's treasurer, Scott Henderson; Holmes will report to Kroger's CFO, Michael Schlotman.
Holmes, 42, began her career with Kroger in 1990 in the information systems and services department, and for the past 10 years, she has served as the company's assistant treasurer.