Former Shopko executive joins JCPenney as Vice President of Stores
LA CROSSE, Wis. (WKBT) — JCPenney recently announced that the former Chief Operations Officer of the previously Wisconsin-based Shopko has been hired as a top executive. James ‘Jim’ DePaul is now the executive vice president of stores for the national retailer, according to a press release.
DePaul will be responsible for improving in-store and omnichannel operations as part of the company’s focus on transforming the customer experience to grow traffic, engagement and customer retention.
“I am delighted to welcome Jim to our team of highly talented retail experts at JCPenney. His track record of delivering a positive, end-to-end customer experience through seamless omni-channel integration makes him a perfect choice as we deliver on our commitment to providing an engaging and rewarding shopping experience for our customers,” said Jill Soltau, chief executive officer of JCPenney, in a statement.
The chain announced its financial results for its fiscal second quarter ending Aug. 3, 2019. Net loss for the quarter was $48 million or $.15 per share. Comparable sales decreased by 9% for the quarter.
In early August, the retailer said it received notification from the New York Stock Exchange (NYSE) that the Company is no longer in compliance with NYSE continued listing criteria, which require listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period.
The company is reducing its inventory, including no longer selling major appliances and in-store furniture.
“Today we will begin sharing more insights from where we have been as a company and the holistic approach we are taking to reposition JCPenney to its rightful place in the retail landscape. We have attracted top talent in the industry and each of these passionate leaders made a choice to come to JCPenney at a pivotal time,” Soltau said in a statement.
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