• J.C. Penney CEO Ellison jumps ship to Lowe's; shares sink

    27 days ago - By Reuters

    J.C. Penney's Chief Executive Officer Marvin Ellison is leaving the struggling retailer to join home improvement chain Lowe's Cos Inc , the companies said on Tuesday, sending shares in the U.S. department store chain down as much as 8 percent to an all-time low.
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  • JC Penney's CEO just signaled the end of retail as we know it

    JC Penney's CEO just signaled the end of retail as we know it

    27 days ago - By Business Insider

    JC Penney ' s stock price fell by as much as 8% Tuesday morning following the news that CEO Marvin Ellison would be leaving the company to lead home-improvement retailer Lowe's .
    Ellison, who became the CEO of JC Penney in 2015 after a 12-year stint at Home Depot, was tasked with bringing the department store back from the brink of disaster.
    Analysts say his departure could signal a lack of confidence in JC Penney - and in department stores in general - as he jumps ship to a more Amazon-proof business.
    JC Penney's stock price dropped by as much as 8% Tuesday morning following the news that...
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  • Lowe's picks former Home Depot exec as new CEO

    Lowe's picks former Home Depot exec as new CEO

    28 days ago - By Biz Journals

    Marvin Ellison, the current chairman and CEO of J.C. Penney Co. Inc., will be the new president and CEO of Lowe's Cos. Inc.
    He replaces Robert Niblock, who's leaving Lowe's after activist board members were named to the company's directors. Niblock announced in late March he's retiring. Ellison will take the helm July 2.
    Ellison is credited with improving the balance sheet at J.C. Penney , which, like many retailers, is struggling with online competition. He also spent 12 years...
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  • Kohl's crushes estimates

    28 days ago - By Reuters

    Kohl's quarterly profit, revenue and same-store sales rose and crushed Wall Street's estimates. Separately, JCPenney's CEO will step down to head Lowe's. Fred Katayama reports.
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  • J.C. Penney CEO Marvin Ellison Resigns To Take CEO Spot At Lowe's

    28 days ago - By Forbes

    Marvin Ellison spearheaded the rollout of 600 appliance showrooms and 500 mattress shops at J.C. Penney, which has helped drive store traffic and sales, but the soft side of the business has suffered, dragged down by declining apparel sales.
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  • J.C. Penney CEO Ellison jumps ship to Lowe's

    28 days ago - By Reuters

    J.C. Penney's Chief Executive Officer Marvin Ellison is leaving the struggling retailer to join home improvement chain Lowe's Cos Inc , the companies said on Tuesday, sending shares in the U.S. department store chain down 4 percent.
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  • JC Penney's CEO Ellison departs for Lowe's, shares plunge

    28 days ago - By Chron

    MOORESVILLE, N.C. - J.C. Penney's CEO is leaving the company to become the top executive at Lowe's.
    The announced departure of Marvin Ellison on Tuesday sent shares of the besieged department store tumbling more than 12 percent to what may become an all-time low.
    Shares of Lowe's Cos., which has struggled to keep pace with rival Home Depot, are up more than 4 percent. Ellison spent 12 years at Home Depot Inc. before he joined J.C. Penney.
    Ellison on July 2 will succeed Robert Niblock, who had previously announced plans to retire.
    Ellison has been with J.C. Penney Co. for several years, but...
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  • J.C. Penney CEO Jumps Ship for Lowe's, Igniting New Crisis for the Department Store

    28 days ago - By Fortune

    J.C. Penney jcp
    CEO Marvin Ellison has abruptly resigned to take the reins of Lowe's low
    , plunging the troubled department store chain into a new crisis.
    Ellison, who had been a senior executive at Lowe's competitor The Home Depot hd until he became president of Penney in 2014, will start at Lowe's on July 2 the company said on Tuesday. As for Penney, it said it has created an “Office of the CEO” to lead the company while it searches for a new chief executive.
    His departure sent Penney's shares plunging 8% in premarket trading to all-time lows as the move reignited concerns about Penney's...
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  • JC Penney tumbles as its CEO heads to Lowe's

    JC Penney tumbles as its CEO heads to Lowe's

    28 days ago - By Business Insider

    JC Penney chief executive Marvin Ellison will be the new CEO of Lowe's .
    Shares of the embattled chain sank as much as 8%.
    Follow JCP stock in real-time here.
    Shares of JC Penney fell as much as 8% in early trading Tuesday after it was announced that CEO and chairman Marvin Ellison resigned and is headed to Lowe's home improvement chain.
    The embattled retail chain will be ran collectively by senior executives acting as an "office of the CEO," until a new chief executive can be appointed, Bloomberg reported.
    "As a 30-year industry veteran, Ellison brings significant leadership and...
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  • JC Penney tumbles as its CEO heads to Lowe's

    JC Penney tumbles as its CEO heads to Lowe's

    28 days ago - By Business Insider

    JC Penney chief executive Marvin Ellison will be the new CEO of Lowe's Home Improvement.
    Shares of the embattled chain sank as much as 8%.
    Follow JCP stock in real-time here.
    Shares of JC Penney fell as much as 8% in early trading Tuesday after it was announced that CEO and chairman Marvin Ellison resigned and is headed to Lowe's home improvement stores.
    The embattled retail chain will be ran collectively by senior executives acting as an "office of the CEO," until a new chief executive can be appointed, Bloomberg reported.
    "As a 30-year industry veteran, Ellison brings significant...
    Read more ...