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J.C. Penney’s CFO Steps Down

  • Move leaves opening at company during industrywide sales slump
  • CEO says latest quarter should show signs of improvement
relates to J.C. Penney’s CFO Steps Down
Photographer: Victor J. Blue/Bloomberg

J. C. Penney Co., already grappling with sluggish sales and an effort to close underperforming stores, is losing its chief financial officer.

Edward Record, who had served as CFO since March 2014, will leave the company on Tuesday to “pursue other interests,” J.C. Penney said. He will remain an adviser until Aug. 7 to help with the transition, with his duties being passed on an interim basis to the retailer’s accounting chief.