DALLAS — Allen Questrom, J.C. Penney Co. Inc.’s departing chairman and chief executive officer, and his successor, Myron E. Ullman 3rd, reflected on the past and looked toward the future on Thursday at the new J.C. Penney Archives at Southern Methodist University’s DeGolyer Library here.
It was Ullman’s first official appearance since joining Penney’s Dec. 1 and one of Questrom’s last — he’s retiring Dec. 31.
Questrom said the $15 billion chain is on plan to finish December with sales 2 to 3 percent higher than the same period last year, and that business is solid across all categories, especially women’s apparel and the Internet.
“We’ve had a very strong December so far,’’ Questrom said. “It’s all about offering customers the hottest items and the right products at the best prices.’’
He plans to spend his last weeks on the job touring stores with Ullman, including a trip to South America to visit Penney’s Lojas Renner department store chain.
Ullman, 57, kept a low profile, saying, “It’s day eight on the job, so I’m still getting used to everything. But I’m very honored and happy to be at J.C. Penney and looking forward to my future there.”
Questrom, 64, orchestrated a complete revamping of the retailer since assuming the company’s top posts in September 2000 and shares tripled under his leadership.
Questrom and Ullman joined about 200 people to christen the J.C. Penney Archives, which chronicle the history of Penney’s and its founder, James Cash Penney. It includes more than 20,000 photographs, advertisements from 1903 to the late 1990s and more than 1,500 linear feet of speeches, ledgers, catalogues and company publications documenting more than a century.
“This collection reflects Mr. Penney’s fundamental values, which are still applicable and play a key role in the continuing success of the company,” Questrom said. “He was dedicated to delivering good value to customers and operating a business with integrity. Mr. Penney also believed that businesses should give back to the communities they serve.”
In 2001, Penney’s donated $1 million to endow the J.C. Penney Retail Center, which offers programs for students pursuing retail careers.
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The DeGolyer Library also houses the archives of another retail legend, Stanley Marcus, donated by his widow, Linda Marcus, in 2003.