A 15-year Penney’s veteran, Tighe had been in the chief merchant role since 2015.
It’s out with apparel, in with restaurants at Simon Property Group’s malls.
The storm could provide a one-two punch following Harvey.
While the apparel and retail industries have been severely challenged, they gave generously to help those impacted by Hurricane Harvey.
As a tropical storm moves from Texas to Louisiana, losses mount.
The new five-year agreement is to last until 2022.
The department store has denied claims that it misled investors in 2013 on its financial state.
Apparel is becoming a big category for the shopping day’s discounts and other retailers are following suit.
Amazon will kick off the 30-hour shopping bonanza of Prime Day on July 10.
The two retailers are now operated separately, but with the same financial backer in Edward Lampert, their fates appear inextricably linked.
It’s the second month sales in apparel have grown.
The off-price channel will also benefit from closures of department store doors at the mall.