Three more J.C. Penney (NYSE:JCP) top-level executives reportedly left the struggling retailer in the same week CEO Ron Johnson was ousted for failing to turn it around.
Chief Operating Officer Mike Kramer, Chief Talent Officer Daniel Walker and Chief Creative Officer Mike Fisher exited on Wednesday, according to a New York Post report.
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The report, which cites an anonymous source close to the matter, said Kramer resigned but it wasn’t immediately clear whether Walker and Fisher left voluntarily.
Penney did not immediately respond to FOX Business for a comment.
The company fired Johnson earlier this week after his “no sales” promise failed to gain traction, leading to a 25% decline in sales last year and a loss of close to $1 billion.
Penney replaced him with Mike Ullman, back-tracking to the chief that sat at the helm for seven years before Johnson was hired in November 2011 to try and fix the aging brand.
Investors have not been pleased with the management swap, and its shares have fallen 5% over the last few days. They are, however, trading 3.5% higher to $14.45 Thursday morning.
Separately on Thursday, a Dow Jones report, also citing sources, said Penney’s sales are down more than 10% so far in the first quarter.