J C Penney inc (NYSE:JCP) is one of the leading and most trusted apparel manufacturing company that serves customers with stylish merchandise at affordable rates. Currently, it has about 860 stores spread out across Puerto Rico and the United States. This Company has appointed Jill Soltau as its new CEO.
Current state of affairs
Analysts applaud the move by the company to appoint a female CEO and they think it is a matter that calls for a celebration. The official moves from Joann Stores which is a craft and textile retailer and she was the CEO.
Soltau assumes her roles as CEO effective October 15.Reports indicate that the company’s stock rallied by about 10% on the news. Analysts attribute the change to the relieved investors. These investors coped with uncertainty for months.
The increased confidence in the company and all that it has to offer is a move towards the right direction. It matters that the company settled for a woman during rather challenging times for women.
Turn of events
The managing director of GlobalData Retail Neil Saunders opined, “In our view, putting an experienced female executive in the top role is a sensible move. One of JCPenney’s central problems has been its inability to connect with women shoppers, especially in terms of fashion.”
Reports indicate that the business giant many at times focuses on winning over the younger shoppers. It keeps assuming the middle-aged mother. A number of its executives and experts recently blamed the company’s current woes on its attitude.
Soltau says that during her term in office she will focus a great deal on the female shopper. To this official, this customer is important to the business and that is why she will focus on serving the customer with the expected style, quality and inspiration.
J C Penney inc has also revealed its plan to close the Northgate Mall store. According to the company, this will take place next year. Joey Thomas, its spokesperson says that as accompany they know what is good for them. They will not commit themselves in any way to the new development.