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JC Penney Adds Another Apple Veteran To Executive Ranks

DOW JONES NEWSWIRES J.C. Penney Co. (JCP) named another former Apple Inc. (AAPL) employee to its executive ranks to assist in the retailer's vast transformation under new Chief Executive Ron Johnson. The department store chain said Benjamin Fay, 40 years old, has joined the company as its executive vice president of real estate, store design and development. The executive, who will report to Johnson, is being charged with the development of new store concepts as well as the remodeling and maintenance of existing stores. Fay comes to the company from Apple, where he worked as senior director of retail real estate, design and development. J.C. Penney is undergoing a major shakeup under Johnson, who came to the company last year after running Apple's retail stores and who has brought along a number of colleagues. The company this year launched a new pricing approach that aims to cut through the clutter of department store promotions. The strategy calls for monthlong promotions instead of random sales. Shares of Penney were recently up 1.2% to $36.10. -By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com

Stock News for Jc Penney (JCP)
DateTimeHeadline
03/31/201517:47:47Statement of Changes in Beneficial Ownership (4)
03/31/201508:04:22Piper Jaffray sees a big run for J.C. Penney
03/30/201508:17:17Expansions In Both Store And Online Operations Will Benefit J.C...
03/30/201505:15:48Comparing America's Next 3 Department Stores Companies
03/27/201523:15:55J.C. Penney Looks To Be Almost Out Of The Woods
03/23/201516:37:15Additional Proxy Soliciting Materials (definitive) (defa14a)
03/23/201516:35:05Proxy Statement (definitive) (def 14a)
03/20/201508:57:38Current Report Filing (8-k)
03/19/201514:34:10Route to an $8 Million Portfolio Started With Frugal Living
03/18/201516:15:06Current Report Filing (8-k)
03/18/201516:05:40Kent B. Foster to Retire from JCPenney Board of Directors
03/14/201503:38:48Buy Recommendation: J.C. Penney - Value Play
03/13/201517:40:46Statement of Changes in Beneficial Ownership (4)
03/13/201505:09:29Call Us Ishmael: We Still Like J.C. Penney
03/12/201503:05:32These 3 Turnaround Candidates Will Continue To Disappoint Investors
03/09/201507:54:32Piper Jaffray keeps the faith in J.C. Penney
03/09/201503:42:37Fundamental Comparison Of Iconic American Department Stores
03/06/201508:03:30Wage hikes at large retail chains may pay off
03/04/201517:37:21Statement of Changes in Beneficial Ownership (4)
03/04/201517:36:52Statement of Changes in Beneficial Ownership (4)

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