JCPenney (JCP) Appoints Inexperienced Exec to Run Fragile Home Section
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JCPenney (NYSE: JCP) has promoted one of its own to lead its merchandization effort.
The NY Post said that Jan Hodges has been promoted from SVP of Sales Promotion to Home Business General Merchandize Manager. Hodges replaces Paul Rutenis, who left the company in July.
CEO Mike Ullman is said to favor Hodges, though she has no significant experience in the home products segment of the business. That might rattle some investors given that Home is the segment generally said to be having the most trouble right now.
The move comes as JCPenney looks to distance itself from Martha Stewart Omnimedia (NYSE: MSO) products, despite litigation with Macy's (NYSE: M) still being active.
Shares of JCPenney are down 3 percent Thursday.
The NY Post said that Jan Hodges has been promoted from SVP of Sales Promotion to Home Business General Merchandize Manager. Hodges replaces Paul Rutenis, who left the company in July.
CEO Mike Ullman is said to favor Hodges, though she has no significant experience in the home products segment of the business. That might rattle some investors given that Home is the segment generally said to be having the most trouble right now.
The move comes as JCPenney looks to distance itself from Martha Stewart Omnimedia (NYSE: MSO) products, despite litigation with Macy's (NYSE: M) still being active.
Shares of JCPenney are down 3 percent Thursday.
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