J.C.Penney Co. has reset its women’s apparel business but not without some short-term consequence to the bottom line.
“We took the bold but necessary steps to liquidate apparel inventory in an effort to accelerate a wider transformation of our women’s department. These steps allowed us to clear out slow-moving inventory this quarter and reset our entire women’s department,” Marvin Ellison, Penney’s chairman and chief executive officer, said Friday, after the company reported a deeper loss for the third quarter, though comp sales were positive. Higher cost of goods involved in the women’s changes, as well as restructuring charges related to store closings, were key factors.
Penelope Cruz wows in a strapless white @chanelofficial feather dress. She is nominated for Best Movie/Limited Series Supporting Actress for The Assassination of Gianni Versace: American Crime Story. #Emmys
Take a peek into Gucci's new Instagram account (@guccibeauty), which is guided by Creative Director Alessandro Michele’s vision of beauty. In typical Gucci fashion, the account already features a series of artworks spanning across history, ethnicity, culture and geography. It will showcase and promote its new cosmetic launches and fragrances as well as looks from the fashion shows and special collaborations with artists and talents. #wwdbeauty
Photographed by @delphachardphotos