J.C. Penney Co. surged 25 percent after forecasting an increase in annual revenue and margin expansion, prompting Chief Executive Officer Mike Ullman to predict its turnaround will be completed this year.
Apple Inc. is known for producing great products, like the iPod. Now Google Inc. with its acquisition of Nest Labs Inc. and its Apple alumni founder Tony Fadell, is hoping it produces great leaders who can replicate that success as well.
J.C. Penney Co. Chief Executive Officer Mike Ullman, intensifying efforts to revive the money- losing department-store chain, plans to close 33 stores and eliminate about 2,000 jobs to help save $65 million a year.
J.C. Penney Co. is reviving sales commissions, reversing Ron Johnson’s decision to kill the practice during his tenure, as the battered department-store chain seeks to ignite revenue growth and persuade high- performing employees to stick around.