Friday, March 12, 2010 2:22 PM
JCPenney Leaving NRF
Retailer JCPenney will not renew its membership in the National Retail Federation.
In a March 10 letter to NRF Chairman Terry Lundgren, JCPenny CEO Myron Ullman said his company will leave the trade group and focus its resources on the Retail Leaders Association (RILA).
"Given the gravity of the issues currently facing large employers -- and specifically large retail emplyers -- we have made a decision to focus all of our industry advocacy through RILA. Therefore, I am resigning as a director of NRF and JCPenney will not be renewing its NRF membership as of April 1," wrote Ullman.
The two retail associations were poised to merge last summer, but ultimately RILA decided not to consummate the deal.
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