Dive Brief:

• Marvin Ellison, currently the executive VP of stores for Home Depot, will take over as CEO for J.C. Penney's August 1, 2015, announced Monday.
• J.C. Penney's has been trying to revamp itself for some time. After a failed makeover by former Apple executive Ron Johnson, his predecessor Mike Ullman took back the reigns in April 2013.
• While profits are still falling for the 112-year-old store, last quarter saw a narrower loss for the store—so a turnaround might be easier, though it isn't assured.

Dive Insight:

While he won't officially step into the role until next summer, Ellison will become the CEO-designee November 1. If Ellison is able to turn J.C. Penney into a profitable brand again, it would show that customers are still loyal to brick-and-morter stores and don't just want to shop online through places like Amazon. A comeback could also give ideas to other struggling retail brands like Sears, Office Max, and Barnes and Noble.