By  on November 18, 2009

Allen Questrom, the turnaround specialist who led four of the biggest names in retailing, sees a long, difficult climb for merchants, particularly in the luxury sector.

Questrom retired in 2004 as chairman and chief executive officer of J.C. Penney Co. Inc. after restructuring the chain. Before that he led Federated Department Stores Inc., which is now Macy’s Inc., in its $4 billion takeover of then-bankrupt Macy’s. After leaving Federated in 1997, Questrom was chairman and ceo of Barneys New York just after it emerged from bankruptcy. He was also called upon to rev up business at Neiman Marcus Inc. as president and ceo from 1988 to 1990.

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