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JCPenney Without Home gmm

PLANO, TEXAS - Paul Rutenis, who was named senior vp/gmm of JCPenney's home division in May 2012, is no longer with the company, the retailer has confirmed.
     Rutenis joined Penney in May 2011 as divisional vp for furniture and decorative accessories before being promoted to his most recent post. Prior to that, he spent five years with Dick's Sporting Goods. He was dmm of home textiles at Foleys from 1999 to 2005.
     While Penney searches for a replacement, chief merchant Liz Sweeney is overseeing home, according to the company.
     JCPenney's greatly anticipated relaunch of the home department was officially unveiled June 6 in some 500 stores, reflecting the vision and showmanship of now departed ceo Ron Johnson. The concept is built around branded shop-in-shops by Jonathan Adler, Terrance Conran, and Martha Stewart, among others.
     Current ceo Mike Ullman -who both preceded and succeeded Johnson's tenure - has vowed to retain the best of the new home format's "attractions" (his nomenclature for the shops) while steering the retailer back to its promotional roots.
     Credit Suisse last week reported Penney has begun discounting home merchandise by 30% or more, adding that development in combination will what appear to be above-plan clearance sales in other parts of the store may result in lower than expected margins for the second quarter.

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