US retail giant JC Penney has revealed an organisational restructuring that will see the departure of chief merchant John Tighe and is designed to streamline decision-making and promote greater agility within its merchandise buying teams.
In a statement on Friday (3 November), JC Penney said as part of the realignment, the position of chief merchant has been eliminated and Tighe will be leaving the company to pursue other opportunities.
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As a result, Jodie Johnson, senior vice president and senior general merchandise manager of women’s apparel, Sephora, salon, women’s speciality, footwear and handbags; James Starke, senior vice president and senior general merchandise manager of men’s apparel, children’s apparel and jewellery; and Val Harris, senior vice president of product development and design, will be reporting to chairman and CEO Marvin Ellison, effective immediately.
Meanwhile, Tony Hurst, senior vice president and general merchandise manager of home, will have the added responsibility for custom window design and home services, as well as commercial sales, and will report to Joe McFarland, EVP of stores.
“Today’s executive realignment reflects a growing need to ensure our company remains nimble and flexible amid the constant change and transformation in the retail environment,” explains Ellison. “I have the utmost confidence in our executive leaders who will continue to drive efficiency across their respective divisions, and will be empowered to make dynamic buying decisions based on real-time customer data.
“This simplified structure offers greater flexibility, which is critical to ensuring our assortment remains fresh and relevant and compels more shoppers to choose JC Penney.”
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By GlobalDataJC Penney is expecting an improvement in third-quarter sales thanks to the implementation of a re-set in women’s apparel, which expanded its casual and contemporary offering. For the period, the retailer is now expecting comparable store sales to increase in the range of 0.6% to 0.8%, while third-quarter adjusted earnings per share to be in the range of ($0.45) to ($0.40).
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