For J.C. Penney CEO Marvin Ellison, brand transformation plans are headed in the right direction, accompanied by enhanced customer engagement and customer loyalty. But, he’s clearly not satisfied.
“For the third quarter, we exceeded expectations on all key metrics,” Ellison said during Friday’s third-quarter earnings conference call, according to Seeking Alpha. “Comparable store sales were up 6.4% in the quarter. Gross margin improved 70 basis points on top of a 710 basis point improvement in the third quarter....