JCPenney plans to expand its omnichannel and digital work with the appointment of new chief financial officer Stephanie Plaines, according to a press release.
Marc Rosen, CEO, said Plains will help initiatives because of his experience in financial management.
“JCPenney is investing for the long term while executing our customer-centric strategy to improve shopping experiences and build brand loyalty,” he said. “Stephanie brings over 20 years of high performance strategic and financial leadership with top global retailers. Her strong strengths in financial data management and her track record of value creation will make her an invaluable advisor across the business as we develop new digital and technology capabilities to drive our transformation agenda forward. .
Plaines’ role will include leading financial activities across the company, with work involving financial strategy, real estate, capital deployment, credit services, procurement and procurement, treasury and accounting.
His resume includes serving as Chief Financial Officer at Jones Lang LaSalle and also has experience at Starbucks, Walmart and Ahold Delhaize.
“I am thrilled to join such an iconic American company at this crucial time of transformation,” Plaines said. “I look forward to working with Marc, his management team and the finance organization to drive the next chapter of business growth, drive sustainable customer-centric expansion and continue to position JCPenney to win in the market. “
People have been walking away from JCPenney and various other mall retail stores for years, with the pandemic accelerating things even further.
Read more: Simon Property Q2 results show consumers and retailers still like to go to the mall
That said, the CEO of Simon Property Group, which oversees hundreds of properties on three continents, said he was feeling rather optimistic.
“Our business is strong. The high-income consumer is in good shape. Brick and mortar stores are where shoppers want to be and they’re outpacing e-commerce across the world and the broader retail spectrum, and demand for our space is extremely strong,” said the CEO. of Simon Property Group, David Simon, during the company’s earnings call on Monday. (August 1) after market close.
He cited the fact that the United States is going to be a boon for retailers, with both international and domestic tourism strong.
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