News

NEW YORK — The revolving door continues to turn at Penney with the news that Ron Johnson-appointee Nick Wooster, SVP of product and design is out while company veteran Ken Mangone has returned to the fold. 

Mangone, who left Penney last December after 35 years with the company, is returning to his previous post as EVP of product development, design and sourcing. His return is one of new CEO Myron Ullman’s first major moves in personnel.

Oak Brook, Ill. -- McDonald's Corp. reported Friday that net income for the quarter ended March 31 rose about 1% to $1.27 billion, from $1.26 billion last year. Total revenue also rose 1%, to $6.6 billion from $6.5 billion.

Same-store sales dipped, however, impacted said McDonald’s by a tightened eating-out environment during the quarter.

At home, same-store sales dipped 1.2%.

LOS ANGELES — PriceGrabber, a leading online shopping site, has upgraded its mobile shopping application for iPhone. 

The mobile app facilitates comparison shopping so consumers can find the lowest price on millions of products from thousands of online merchants and local stores. Popular shopping categories include digital cameras, TVs, electronics, home goods, computers, clothing and beauty.

HOUSTON — Specialty retailer Francesca's has appointed Laurie Ann Goldman and Joseph O'Leary to its board of directors.

Goldman has been CEO of rapidly growing Spanx, makers of slimming intimates and body shapers, since 2002. Prior to joining privately held Spanx, she spent 10 years at the Coca-Cola Company in a number of leading marketing roles. Earlier in her career, she held marketing positions at R.H. Macy and Maison Blanche Stores. Goldman currently serves on the advisory board for Suntrust Banks.

Chairman, president and CEO of Fast Retailing Tadashi Yanai is among the 2013 Time 100, the magazine's annual list of the 100 most influential people in the world. 

Yanai was the only retail and CPG company executive to make the list. Other notables with a connection to the retail industry included Samsung CEO Oh-Hyun Kwon, Paypal co-founder Elon Musk and fashion designer Michael Kors. The complete list will appear in the April 29 issue of Time, available now.

J.C. Penney late Thursday announced that chief operating officer Michael W. Kramer had left the company.

His departure was disclosed in an 8-K filing with the Securities and Exchange Commission. In connection with Kramer’s departure, he received a lump sum cash payment of $2,143,414. In addition, the company also disclosed that Daniel Walker had resigned as the company’s chief talent officer.

ATLANTA — Supply chain solutions company Predictix has appointed Ronald P. Menich, Ph.D., as its new EVP and chief scientist. 

Predictix provides retailers and brands with platforms and tools that enable them to drive competitive advantage and market differentiation. 

A Web site affiliated with noted television investment pundit Jim Cramer has reiterated its buy recommendation on shares of Walmart.

TheStreet.com rated Walmart A+ and said the company’s strengths can be seen in areas such as revenue growth, notable return on equity, solid stock price performance, growth in earnings per share and net income.

"We feel these strengths outweigh the fact that the company shows weak operating cash flow," according to the TheStreet.