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Sales at J.C. Penney stores open for over a year fell 5.4 percent in the quarter ended Nov. 3 versus a 0.6 percent decline forecast by analysts, and the company said they would now fall in the low single digits for the full year. Soltau, on a conference call with analysts, said the company had discounted heavily in the quarter to clear slow-moving products and would now review the frequency of promotional offers, its online operations and store footprint. “While this will be a lengthy process, I understand the need for quick action,” she said.
J.C, Penney has struggled german 2 pfennig coin cufflinks for years to excite consumers with its mid-priced range of apparel, style-conscious millennials instead choosing fast-fashion brands and online stores, The Plano, Texas-based company has also changed strategy several times, alienating its core demographic of middle-aged and older women as it chased after younger shoppers, In the third quarter results, the company also withdrew its annual earnings forecast, saying it needed to give Soltau and its interim financial chief more time to assess the business..
“Are they in an immediate danger of filing for bankruptcy? I don’t see that,” said Ken Perkins, the founder of research firm Retail Metrics. “But if they don’t right ship and start to generate positive (comparable-store) sales and positive traffic, it does call it into question.”. A handful of major U.S. retail names have collapsed in the past two years and others, including Penney, have slashed jobs and closed hundreds of stores. People familiar with the matter told Reuters on Wednesday that Sears Holdings Corp (SHLDQ.PK) was in the process of finalizing $350 million in critical bankruptcy financing that would keep the U.S. retailer open through the holidays.
ZURICH (Reuters) - Companies should set up portable accounts to pay for life-long learning to help workers upgrade their skills and remain employable as robots take over more jobs, Adecco Group (ADEN.S) Chief Executive Alain Dehaze said, As increasing automation eliminates many roles, government and the german 2 pfennig coin cufflinks private sector should work together to fill skills gaps, while workers must become more flexible, the head of the world’s largest staffing services company told Reuters in an interview, “If they don’t quickly reform their education system, countries will create a time bomb,” said Dehaze, “They won’t have the correct talent any more and companies will move away.”..
The 55-year-old Belgian who has led Switzerland-based Adecco Group since 2015 said its customers - employers who take on temporary and permanent staff - want more flexible and more skilled workers. “Digital skill shortages are one of the biggest problems for many of our clients. In Europe alone there will be 900,000 unfilled vacancies by 2020 due to a lack of digital skills,” Dehaze said, citing a European Commission study. Companies and workers must improve training to fill these gaps, he said, especially as every four years people effectively lose 30 percent of their technical skills because the environment is changing so rapidly.
Employers could either lay off existing workers and recruit new staff - an expensive exercise - or retrain them, Cutting a job can cost roughly $100,000 in Switzerland, three times more than retraining, he said, “Our current system comes from the time of the industrial revolution and is based on permanent work contracts,” Dehaze said at the company’s Zurich headquarters, “But the era of life-long jobs will soon be over, Society needs a new social contract.”, Up to german 2 pfennig coin cufflinks 375 million employees globally may need to change their work category by 2030, according to a study by consultancy McKinsey & Co..
Areas like office administration and food preparation will be among the hardest hit by the rise in automation, as robots and artificial intelligence programs take over repetitive tasks. Against this backdrop, Adecco Group - which competes with Randstad (RAND.AS) and ManpowerGroup (MAN.N) - has invested in training, buying General Assembly for $412.5 million this year. To simplify career-long training, portable accounts, dubbed “life-long learning accounts”, could be created, Dehaze said.
Employees and companies would pay into the accounts and when they change jobs, employees could take the accumulated capital with them, If they need further training they could activate the account to pay for it, Dehaze has discussed the idea with government officials in France, Italy and Singapore, an Adecco spokeswoman said, Employees could be given tax incentives to pay into the scheme, the spokeswoman said, Individual training will be particularly important as freelance workers make up an increasing portion of the workforce in the so-called gig economy, as shown german 2 pfennig coin cufflinks by ride-hailing company Uber..