Retail News
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Ron Johnson’s job at J.C. Penney Co. ended after his attempt to overhaul the retailer wiped out a quarter of its sales and about half of its market value. The board members who hired him are staying.
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Sina Corp., owner of China’s largest Twitter-like service, will push into mobile e-commerce through an alliance with Alibaba Group Holding Ltd. to revive flagging advertising sales.
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Apple Inc., which holds $102 billion in cash and investments outside the U.S., will suggest changes to corporate-tax laws to encourage companies to bring more cash into the country.
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Seattle’s Best Coffee, the chain owned by Starbucks Corp., tomorrow will open 10 new locations mostly in Wal-Mart Stores Inc. parking lots, in what will be the biggest one-day opening event ever for the coffee seller.
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