Emerging customers, which include millennial moms, account for 45 percent of J.C. Penney revenue. A previous version of the story attributed all of this revenue to millennial moms.
This story has been updated to reflect Mark Kalinowski is an analyst at Instinet.
This story was revised to correct the spelling of Eminence.
This story has been revised to reflect that the corporate tax rate is 35 percent. An earlier version misstated that figure.
The corporate tax rate is 35 percent. An earlier version misstated the figure.
This story was revised to correct that Vice President-elect Mike Pence is still governor of Indiana.
A chart in this story has been corrected to reflect the proper time period for the top 10 retailers' digital sales.
EDITOR'S NOTE: The following transcript has been updated to reflect the full interview. An earlier version omitted some of the exchange in error.
This story has been updated to reflect the S&P 500 posted its best month since July. An earlier version misstated the month.
This report has been updated reflect that Michael Buchanan's title is senior managing director and head of strategy at Temasek.