On Thursday, in the course of current trade, Shares of J. C. Penney Company, Inc. (NYSE:JCP), dropped -1.29%, and is now trading at $8.45.
Marvin Ellison, J.C. Penney Co.’s next leader, laid out his plans for how the chain can thrive again, a vision that includes cutting supply-chain costs, improving customer service and better connecting stores to the Web, according to Bloomberg.
The former Home Depot Inc. executive, who shared his ideas for the first time on Wednesday, came to J.C. Penney in November as CEO-designee. While he’s officially taking the reins from Myron E. Ullman on Aug. 1, the pair have recently shared CEO duties, with Ellison having final say on long-term decisions. Bloomberg Reports.
Since joining the retailer that’s in its third year of recovering from the disastrous tenure of former CEO Ron Johnson, Ellison has visited stores in a dozen states. He’s also met suppliers in Asia and partners, such as European fast-fashion brand Mango. Ellison said J.C. Penney presented a unique challenge for a CEO. Bloomberg added.
J.C. Penney Company, Inc., through its partner, J. C. Penney Corporation, Inc., sells merchandise through department stores in the United States. The company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings, in addition to provides various services, counting styling salon, optical, portrait photography, and custom decorating. As of March 18, 2015, it operated about 1,060 stores.
During an Afternoon trade, Shares of Fifth Third Bancorp (NASDAQ:FITB), gained 0.09%, and is now trading at $21.31.
Fifth Third Bancorp, is planned to report second quarter 2015 financial results on July 21, 2015. The declaration will be accessible at www.53.com at about 6:30 AM ET. The Company will host a conference call at 9:00 AM ET to talk about results.
Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through four segments: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors.
Finally, H&R Block, Inc. (NYSE:HRB), gained 1.10% Thursday.
Credit Suisse earlier downgraded H&R Block, to “neutral” from “outperform,” and lowered its price target to $35 from $37.
The firm reduced their estimate of 2016 earnings per share to $1.84 from $2, and believe that the capital return opportunity is now embedded in the stock, according to the analyst note.
H&R Block, Inc., through its auxiliaries, provides tax preparation and related services to the general public primarily in the United States, Canada, and Australia. The company offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or by franchisees; and online tax services, such as tax advice, professional and do-it-yourself (DIY) tax return preparation, and electronic filing services through its Website hrblock.com.
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