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| emaillist, adrants, scores, haute couture, keyboards, brands, older versions , latest celebrity news, real estate, elastomers, switchgras, broker, business opportunities, | and Chief Executive celebrity entertainment news Myron E. celebrity entertainment news "Mike" Ullman III, who joined in late 2004 from Macy's and the luxury-goods business, is trying to position Penney as more upscale and upgrade its collection of store-label brands. The labels, which include names like fashion designer Nicole Miller and home furnishing maven Chris Madden, account for 40 percent of sales. Customers will see more changes in the stores and online as Penney further blends both businesses."Penney's is moving fast into this new frontier of multichannel consumer celebrity entertainment news retail experience," said Richard Hastings, retail analyst at Bernard Sands. "People are experiencing the brand in a dynamic way."Penney |
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| shoppers tend to be adrants more affluent and younger that the store shopper. The median age for Penney's online customers is 45 years old, compared to 49 for its store shopper and over 50 for its catalog customer, said Tim Lyons, a adrants company spokesman. He noted that the median household income is 10 percent to 15 percent higher than that of the online and catalog shopper, whose income ranges from $35,000 to $80,000.Penney's online site offers pricier items that are not adrants available in the store.Penney's turnaround began in late 2000, when the then Chief Executive Allen Questrom launched an effort to upgrade stores and merchandise. He sold off the Eckerd drug chain, closed underperforming department stores and spruced up the remaining Penney's stores.In its fourth quarter, Penney reported a 65 percent profit increase over the same period last year and posted its 11th consecutive quarterly gain in same-store sales, considered the best indicator of a retailer's health.Chairman |
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