The company plans to expand its platform to offer resale services to retailers, and recently announced partnerships with Macy’s and J.C. Penney.
J.C. Penney, Gibson Brands, Russell Investments, Cobham Advanced Electronic, Wag!, Westwood, Sentry Data, Revolution Foods, Powell Industries, AbbVie
J.C. Penney has moved from "buying to store capacity" to "buying and chasing" into demonstrated sales trends, says CFO Jeffrey Davis.
The retailer's results were sharply lower than rivals Macy's and Kohl's, and a downbeat full-year profit forecast added to investors' concerns.
Penney's surprising 1.7% gain in same-store sales indicates its "strategy of purging excess inventory and closing underperforming stores" is paying off.
The struggling retailer now projects a loss of between 40 cents to 45 cents a share due to clearance of apparel inventory.
The retailer's loss widens to $62 million but CEO Marvin Ellison sees the 1.5% increase in sales and the improved performance of apparel as positive signs.
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The hiring of Jeffrey Davis, former finance chief at Darden Restaurants, comes in the wake of Edward Record's resignation earlier this month.
Twitter, J.C. Penney, State Street, Avery Dennison, Lexmark, AAR, Alexander & Baldwin, Marin Software, ITC Holdings
The U.S. retail chain plans to close as many as 140 brick-and-mortar locations after announcing disappointing results over the holiday season.
The 0.8% drop in Q3 follows a 6.4% jump a year ago but the retailer is confident its new appliance departments will improve sales during the holiday season.
