J.C. Penney Notably Higher After Appointing New Interim CFO

(RTTNews) - Shares of J.C. Penney Company, Inc. (JCP) have shown a strong move to the upside over the course of the trading session on Tuesday. After ending the previous session at a record closing low, J.C. Penney is currently up by 3.7 percent.

The advance by J.C. Penney comes after the department store chain announced the appointment of Michael Fung as interim chief financial officer. Fung will succeed Jerry Murray, who was named interim CFO when Jeffrey Davis resigned last month.

J.C. Penney noted Fung recently served as interim chief financial officer for Neiman Marcus Group and 99 Cents Only Stores following his retirement from Walmart Stores (WMT).