Despite a disappointing first-quarter report, Penney’s ceo says the turnaround strategy is working.
The retailer liquidated slow-moving apparel in the third quarter, boosting sales, but hitting the bottom line.
There’s been a string of CFO comings and goings at retail companies this season.
Dhillon leads the legal department at Burlington Stores Inc. and before that led the legal department at J.C. Penney.
Softness in apparel was offset by gains in appliances, Sephora and strong promoting.
J.C. Penney’s is building up “weatherproof” categories like appliances, window treatment and Sephora.