JCPenney CEO Jill Soltau

JCPenney Stock Soars on New CEO News; Amps Up Private Label

In What's New, Profiles by Lauren Parker, Accessories Magazine

JCPenney CEO Jill Soltau

JCPenney has hired CEO Jill Soltau. Photo: JCPenney

Struggling retailer JCPenney has hired Jill Soltau as its new CEO, filling the shoes of Marvin Ellison, who departed abruptly in May. Earlier this week, JCPenney CFO Jeffrey Davis also decamped, leaving the retailer in the lurch. The news of Soltau’s appointment sent shares of the retailer’s stock up more than 10% upon the news. She was formerly the CEO of Joann Fabric and Crafts Stores.

Soltau is being heralded as an excellent choice, having spent a 30-year-career in retail. Prior to being CEO at Joanns, she was EVP and chief merchandising officer at Shopko. During her eight-year tenure at Shopko, she was also GMM of Apparel and Accessories. She also held senior positions in merchandising, planning and private brand management at Sears and Kohl’s. She kicked off her retail career with Carson Pirie Scott in Chicago.

“Jill stood out from the start among an incredibly strong slate of candidates,” said Paul J. Brown, JCPenney board director and chairman of the search committee. “As we looked for the right person to lead this iconic Company, we wanted someone with rich apparel and merchandising experience and found Jill to be an ideal fit. Not only is she an established CEO and former chief merchant, her depth of experience in product development, marketing, e-commerce and store operations have been an important basis for the turnaround work she spearheaded at prior companies.”

Soltau will fill the position Oct. 15 and will also become a member of the retailer’s board of directors.

‘INSTAGRAM MOMENTS’ BRAND

JCPenney Launches Peyton and Parker

Peyton and Parker. Photo: JCPenney

Inspired by those Instagram moments that make those stylish moms the envy of every social media, JCPenney has unveiled its new private brand: Peyton and Parker.

Beginning with a holiday line featuring coordinating family apparel, accessories and shoes, as well as home décor, the brand will roll out seasonally with capsule collections. Peyton and Parker will debut at nearly 400 JCPenney stores and at JCPenney.com beginning Oct. 19.

“We were inspired to create a line that made it easy for mom to dress her family and decorate her home, creating a picture-perfect moment for all of her social media channels. Peyton and Parker is the Company’s first cross-divisional private brand in many years. Our incredibly talented product development and design team saw a void in our assortment for a family lifestyle brand,” said Val Harris, senior vice president of product development and design for JCPenney. “The holidays are a critical shopping period. Introducing new brands such as Peyton and Parker will drive traffic and invite new and loyal customers to discover what JCPenney has to offer this season.”

The introductory capsule features apparel and accessories with mix-and-matchabe cozy plaids, buffalo checks, rose gold sequins, glitter, navy stripes, ivory cable knits and denim. Mom can outfit her family, and her home, in Instagram-worthy styles at a great value.

Retails range from $8.40 for a girls’ glitter crown headband to $30.80 for a women’s plaid peplum top and $35 for a men’s puffer vest. Home décor starts at $11 for a cable-knit stocking.

“Every family has a story to tell through photos and we created Peyton and Parker to give mom a fresh style perspective when sharing her family’s lives on social media via fashionable squares. We are working with a targeted list of savvy mom influencers on Instagram who have an eye for tradition, photography and fashion to unveil this whimsical brand in a natural, organic way,” added Harris.

Peyton and Parker will be promoted via an influencer campaign, email, social and digital marketing channels.

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