PodcastsJan 12, 2026
The latest poscasttest
MajorsApr 01, 2019
JC Penney Appoints Bill Wafford CFO
The former CFO of The Vitamin Shoppe has also held positions at Target and Walgreens Boots Alliance.
The retailer plans to close 27 underperforming stores in its second quarter as part of its turnaround plan.
Plano, Texas—J.C. Penney Co. Inc. is once again shaking up its executive team, appointing Bill Wafford, former CFO of The Vitamin Shoppe, as its new executive vice president and chief financial officer as of April 8.
He succeeds interim CFO Michael Fung, who stepped in after former CFO Jeffrey Davis stepped down last September after just a little over a year on the job.
Wafford previously was a partner in the advisory practice group of KPMG and held positions at Archstone Consulting and Bank of America. He spent five years with Walgreens Boots Alliance, where he was involved in the acquisition of Alliance Boots.
He brings retail experience to the table as well, having managed the financial planning and analysis for Target’s women’s and men’s apparel divisions.
In his new position, Wafford will be tasked with overseeing the retailer’s finance and accounting operations.
JCPenney noted Wafford’s role in reducing debt, decreasing inventory and improving operating income during his time with The Vitamin Shoppe.
“Bill brings extraordinary depth and breadth of experience to our executive team. His first-hand knowledge and understanding of financial turnarounds will help JCPenney deliver improved results and drive profitable growth,” CEO Jill Soltau said.
The retailer reported a better-than-expected fourth quarter in February but struggled through a lackluster holiday season.
Quarterly same-store sales dipped 4 percent, while full-year revenue slid 7 percent, amounting to a $255 million net loss.
The company announced it will be closing 27 underperforming stores, including 18 department stores and nine home and furniture stores, in its second quarter as part of its fiscal 2020 turnaround plan to get the business back on track.
Editors' Picks
Sponsored by
More on Majors
The Latest
Weekly QuizOct 03, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
PodcastsNov 27, 2025
Test Podcast With VideoTest Podcast With Video. New interview with Ada Lovelace.
PodcastsNov 25, 2025
Test New Podcast PostAbstract for tests. New Podcast interview with John Lennon, Jimi Hendrix and Jim Morison.
ColumnistsOct 09, 2024
Peter Smith: 7 Things to Know When Selling LuxuryAhead of the holiday season, Smith delves into the often subconscious reasons people buy luxury products for themselves or their loved ones.
AuctionsOct 09, 2024
Rolex Worn on Apollo 14 Mission Up for SaleThe GMT-Master “Pepsi” belonging to astronaut Edgar Mitchell is a standout in RR Auction’s online “Space Auction,” going on now.
MajorsOct 09, 2024
PGI Launches New Virtual Sales TrainingRetail sales associates can access the video series on mobile to refresh their selling skills.
Policies & IssuesOct 09, 2024
GJNRF: Reaching Out, Rebuilding Futures For 25 years, India’s Gem & Jewellery National Relief Foundation has provided aid in the wake of war, natural disasters, and global crises.
AuctionsOct 08, 2024
Sotheby’s Selling Jewelry That Belonged to a Bulgarian TsarThe November auction will feature a collection of jewels owned by Ferdinand I, the first king of modern Bulgaria, and his family.
SourcingOct 08, 2024
Rio Tinto Begins New Phase of Production That Will Extend Diavik’s LifeCommercial production has begun underground at the Canadian diamond mine’s A21 pipe.
SurveysOct 08, 2024
What to Know About Online Shopping This Holiday SeasonDeloitte and Adobe Analytics shared their insights on the season, from the retail sales forecast to the role of generative AI.
CollectionsOct 08, 2024
Sylvie Adds New Men’s BandsThe Texas-based jeweler collaborated with luxury clothing brand Uncommon Man on men’s bands designed with European influences.
SourcingOct 08, 2024
Is Current Diamond Industry Turbulence Shaping a ‘New Normal’? Industry players have found ways to cope with market conditions while working to reshape themselves in the face of emerging realities.
SourcingOct 07, 2024
Rio Tinto to Offer 76 Diamonds in 2024 Beyond Rare Tender The sales event, in its second year, features a selection of rare diamonds from the miner’s Argyle and Diavik diamond mines.
CollectionsOct 07, 2024
Olympian Kristi Yamaguchi Partners With Heller Jewelers on New CollectionA portion of the proceeds from the “Always Dream” collection will go to Yamaguchi's foundation, supporting early childhood literacy.
SurveysOct 07, 2024
Hill & Co.’s New ‘Business of Jewelry Report’ Is OutThe first in what is slated to be a series of in-depth reports from the consulting company, it focuses on shortening supply chains.
