J.C. Penney announces appointment of two more Apple veterans; swings to Q3 loss

Plano, Texas -- It’s official: Two more Apple Retail veterans are joining their former boss Ron Johnson at J.C. Penney Co. The news came as J.C. Penney reported a third-quarter net loss of $143 million and issued a tepid holiday forecast. J.C. Penney named Michael W. Kramer, CFO of Apple Retail from 2000 to 2005, as COO. Kramer has been the president and CEO of Kellwood Co. since 2008, where he oversaw a portfolio of fashion brands. He also served as executive VP and CFO at Abercrombie & Fitch, from 2005 to 2008. "Mike is an extremely talented executive,