Penney to discuss quotas
May 17, 2004-- Home Textiles Today,
The elimination of quotas in January will be one of the major issues discussed at the JCPenney vendor summit meeting here on Wednesday, May 19.
Vanessa Castagna — chairman and CEO of JCPenney stores, catalog and Internet — said that the summit meeting, an annual event, will review the information presented at last month's financial analysts' meeting, and explore how the vendor base can support Penney as well as "what we can do to help them work with us."
Key topics will include the JCPenney customer and the level of quality and fashion focus needed to improve customer relations. Another issue will be increasing operational efficiencies, which range from getting costs down to transportation to packaging.
"We have to have our key suppliers joined at the hip with us on everything from the design of the product to shipment," Castagna said.
Allen Questrom, chairman and CEO of J.C. Penney Inc., said the summit is a good place to hear suppliers' concerns. "We really believe the success of the company is going to be based on a good core of suppliers. But that doesn't mean we won't fight for prices."
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