J. Crew COO jumps ship for Avon

Avon Products Inc. AVP, +1.17% said Wednesday it hired James Scully away from J. Crew Group Inc. to be its new chief financial officer.

Scully has been J. Crew’s chief operating officer for nearly two years and with the retailer for a decade. His exit follows the departure of Stuart Haselden, its chief financial officer, earlier this month. Haselden left to join Lululemon Athletica Inc. LULU, +0.76% as its CFO.

J. Crew is contending with falling shopper traffic at its stores and the retailer recently wrote down the value of its stores by more than half a billion dollars, while leaving its online operations unscathed, an indication of the toll that e-commerce is taking on brick-and-mortar retailing.