The Lowe’s ceo, less than a year into the job, has already made sweeping changes to the organization to regain market share.
The retailer cited bad weather for top line weakness and also recorded continuing losses for the first quarter.
The majority of the ceo’s compensation came in stock and option awards.
The retailer trumpeted an “improved performance in our total apparel business.”
The department store has denied claims that it misled investors in 2013 on its financial state.
The event honored Penney’s Marvin Ellison and Michael Strahan.
The company is accelerating its move into the area, with tests on bathroom remodeling, smart home installation and more.
The two executives, who split up ceo duties at J.C. Penney last year, were each paid handsomely for their efforts.
The department-store retailer outperformed its peers during the holiday season.
In a speech, Ellison said the retailer’s Penney’s weaknesses include assortment planning, supply chain efficiency, customer analytics and e-commerce.
Same-store sales rose 4.1 percent, with total sales reaching $2.88 billion.