Mark davis director jcpenney

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Get help. Privacy Policy. Password recovery. It was also then getting the business to a point of stability and I talked about the importance of delivering value and where the business was in a financial position to say we're going to invest a billion dollars back into this business for the customer and it's going to be self-funded from what we're generating.

Brady: What are you doing with that billion dollars? Is it mostly revamping the stores or where is that money going? Rosen: It's really going, when I break it down, that billion dollars is going to three areas and it will kind of happen, it started about a little bit over a year ago now, probably about a year and a half ago. So we're midway through and the first big tranche of investment is really around the shopping experience and so we've talked a bit about the shopping experience and the importance of shopping experience to customers, and that means both in-store and online.

So by the end of this year, we will have remodeled about a third of our store fleet so that we can provide our customers with the shopping experience they want when they come in store. We've also, back to the point we're talking about with e-commerce, we've added a lot of new features and things on the e-commerce shopping experience to make it easier for customers to find what they're looking for, to show them creative outfitting solutions and how to put things together and how to wear and adding the element of style and fashion to that.

And then we've improved a lot about our fulfillment capabilities too. So that's the first tranche is really shopping experience. The second tranche of investment is around making sure that we have the right assortment, the right merchandise for our customers in the right place. And so there's been a lot done around our assortment planning tools for merchants, around our inventory planning tools, and so around the way that we're really planning and buying merchandise and making sure that we have the right product in the right place to serve the customer.

And a lot of that has been enabled through investments in technology and AI and things like that. And so shopping experience and making sure that we have the right assortment. And then the third thing has really been back in the brand. Because we talked some about the health of the brand, but it was really, really important to reinvigorate the brand.

And again, we united around that purpose of serving and celebrating with America's diverse working families. That's really internal. We also then said, how do we make sure that our customers understand what are the unique reasons that they're going to come to JCPenney? And we talked about relevance. And it means because they have to have a relevant shopping experience of what's important to them.

And when we looked at our customers, we said what's really important to them is actually belonging and it's finding that place where they can find that accessible fashion that's going to help them belong in whatever moments they're going to have in their life. Brady: You've talked a little bit about the assortment. Can you unpack that a little more for us?

What specifically do your customers look for? What kind of brands resonate, and is that changing the selection of what you have in your stores? Rosen: Yeah, I think our customer is looking for a combination of great national brands. I think in great fashion and to some extent, you know, we have a set of customers that really does care about the brands, and one of our largest brands is actually my former employee.

So Levi's is one of our biggest brands. Athletic apparel is one place where customers really care about brands, and we've seen as we been in back to school, a surge in kids buying branded athletic apparel. So I think that's really, really important to them. And at the other point, they're looking for fashion moments and a fashion point of view.

And I talked about the importance of our customer really understanding, belonging, and fitting in. And I have two quick stories that I can tell you about that. First of all, I was in one of our stores, I think it was in Ohio, and the store team will regret probably that they let me be alone for a moment in the store. I was walking to the back of the store and a customer came up to me and the customer said, Do you work here?

And I had my name badge on so I said, Yes, I do. How can I help you? And he said, I'm going to a wedding this weekend, and I've never worn a bow tie before.

Mark davis director jcpenney

And so can you tell me how do I tie it and what do I wear it with? And it's those kinds of fashions…. Rosen: Well, luckily, by that time, the store team had a panic that I was talking to a customer alone. And so the store manager…. Rosen: …came running up and he helped because I could have helped, but I think much better service would come from the store manager.

Another story about that is really for our customer. I met a customer who was going to her first job where she was working in an office and nobody in her family had had an office job and what she wanted to know is what could she wear that would be appropriate for that? So that belonging to a large extent is really about fitting in as families, as our customers, as they go through different things and different experiences in their lives.

Brady: Generative AI has been a transformative force in the business landscape for the last 18 months. According to the latest Fortune Deloitte CEO survey, more than half of CEOs are experimenting with generative AI in their own daily activities and, of course, trying to spread it throughout their organizations. Jason, good to see you. Brady: How are businesses integrating AI into their organizations?

Where do you see the most substantial benefits? Girzadas: I think it's true, as you say, that every organization wants to capitalize on the benefits of AI, particularly generative AI. The benefits have been largely around efficiencies today and looking for ways to automate routine tasks. The promise is there for more insight-driven use cases and innovation use cases.

That's the next stage. We're seeing organizations looking to move from proofs of concept and pilots to see these technologies and models put in place in true operational uses at scale. Brady: When you think about how much change there's been in the last 18 months, really curious, how do you think it's going to evolve in the next 18 months, 36 months?

Girzadas: I think we're actually needing to change our timing horizon. By all indications, we're more in six month intervals and I think that's exciting, but also a challenge. Enterprises aren't accustomed to working in that type of cadence and with that type of pace. This is a perfect instance where leadership has to be in sync to assimilate technology that quickly.

I think as a CEO, it's important that we lead by example. So I've been through all the training. I've been through all the productivity tools that we have available within our organization. But then more broadly, we've embarked upon a significant investment to deploy this across all we do. Brady: I'm feeling the urgency. Jason, thanks for joining us.

Brady: So, Marc, there's a lot of words that we often use that can kind of be surrogates for something else. And let's start with the diverse, diverse and working. Obviously, I understand value. I don't know if you put a demographic target on that, but diversity to me implies that also you're investing in things like language. You're acknowledging perhaps, ethnic differences in different parts of the country.

I mean, what does it mean, diverse working families? It just feels a little bit slightly like a catchall phrase. Can you unpack it a little bit, take it down a level as to what differentiates you from other retailers that are serving diverse working families like, start with diversity. Rosen: Yep, absolutely. And I talked a little bit about professions and things like that.

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