June 18 J.C. Penney Co Inc said on Monday that Michael Francis, whom the department store lured away last year from Target Corp and who was responsible for its merchandising and marketing, is stepping down immediately, after only eight and a half months on the job.
Chief Executive Ron Johnson will assume direct oversight of Penney's marketing and merchandising functions, the company said. The retailer last month reported an 18.9 percent decline in same-store sales for the first quarter of its turnaround.
CEE MARKETS-Romanian stocks touch 9-year high despite budget worry
* Bucharest stock index reaches highest level since Jan 2008 * Romanian committees to discuss wage hike bill * CEE markets are rangebound with UK and U.S. closed By Sandor Peto and Luiza Ilie BUDAPEST/BUCHAREST, May 29 Bucharest stocks touched a new nine-year high on Monday, buoyed by healthy first-quarter company earnings, despite concerns that wage hikes and tax cuts will exacerbate Romania's budget deficit. Other central European stock indices and currenci
World luxury goods sales growth seen up 2-4 pct in 2017-Bain
PARIS, May 29 Global sales of personal luxury goods will grow by a stronger- than-expected 2-4 percent at constant exchange rates in 2017, as higher spending in Europe and China outpace weakness in the United States and southeast Asia, a report showed on Monday.