J.C. Penney to carry Charlotte Ronson brand line
NEW YORK, Oct 8 (Reuters) - Mid-tier retailer J.C. Penney Co Inc (JCP.N) is pairing with trendy designer Charlotte Ronson to sell an exclusive sportswear line as it tries to boost market share.
The "I (Heart) Ronson" collection, which targets 21- to 35-year-old women, will hit 600 of Penney's stores in time for spring and will also be available on the web and via catalog, the company said on Wednesday.
Ronson's higher-end clothing line is sold in 150 upscale department and specialty stores worldwide. The designer also has stores in Manhattan, Tokyo, and Japan.
The Ronson collection is the latest in a series of exclusive deals from Penney, which is trying to take market share in the contemporary and juniors clothing segments.
The company, along with other department store chains, has suffered as a weak economy sends more shoppers to discount retailers like Wal-Mart Stores Inc (WMT.N). The trend worsened as financial markets tumbled in September.
Penney said on Wednesday its September comparable-store sales plummeted 12.4 percent and lowered its third-quarter forecast. Its shares fell more than 4 percent.
In April, Penney introduced the private brand Decree in its juniors department and two new brands, American Living for Young Men and Whitetag, to its young men's department. (Reporting by Sarah Coffey; Editing by Derek Caney)
