Content about J. C. Penney

August 14, 2014

Same store sales growth of 6% and e-commerce strength helped J.C. Penney dramatically reduce its second quarter operating loss and demonstrate growing momentum of its turnaround.

Same store sales growth of 6% and e-commerce strength helped J.C. Penney dramatically reduce its second quarter operating loss and demonstrate growing momentum of its turnaround.

Sales at the operator of 1,060 stores increased to $2.8 billion from $2.66 billion and the 6% comp increase the company reported was against an easy prior year comparison when comps declined 11.5%. Online sales through jcp.com were $249 million for the quarter, up 16.7 % versus the same period last year.

August 5, 2014

J. C. Penney is expanding its New York footprint with the opening of its first-ever store in Brooklyn. The store will have design elements and innovative features not found in any of its other stores, according to the retailer.

J. C. Penney is expanding its New York footprint with the opening of its first-ever store in Brooklyn. The store will have design elements and innovative features not found in any of its other stores, according to the retailer.

July 17, 2014

J.C. Penney’s back-to-school marketing campaign aims to celebrate self-expression the way it’s done nowadays: with selfies.

J.C. Penney’s back-to-school marketing campaign aims to celebrate self-expression the way it’s done nowadays: with selfies.

Customers are invited to visit the retailer’s back-to-school online hub, jcpenney.com/bts, where they can create a personalized emoji that resembles them. Users can customize their emoji with accessories and hairstyles and post it side-by-side with their selfie, to share with friends as well as on J.C. Penny’s "Express Yourselfie" online gallery.

May 15, 2014

Things took a wacky turn in the retail world this week as JCPenney reported a 6.2% same store sales increase and a huge gross margin expansion while Macy’s, Kohl’s and Walmart stumbled.

Things took a wacky turn in the retail world this week as JCPenney reported a 6.2% same store sales increase and a huge gross margin expansion while Macy’s, Kohl’s and Walmart stumbled.

February 26, 2014

In a sign of some progress in its turnaround efforts, J.C. Penney reported a net profit of $35 million for the fourth quarter ended Feb. 1, compared to a loss of $552 million a year ago. Excluding a tax benefit and other items, Penney had a loss of $206 million for the quarter.

In a sign of some progress in its turnaround efforts, J.C. Penney reported a net profit of $35 million for the fourth quarter ended Feb. 1, compared to a loss of $552 million a year ago. Excluding a tax benefit and other items, Penney had a loss of $206 million for the quarter.

Looking forward, the company expects same-store sales to increase approximately 3% to 5% for the first quarter and to increase mid-single digits for the full year 2014.

February 13, 2014

Ed Record, a former finance executive with Stages stores, Kohl’s, Belk and Federated was appointed to replace Ken Hannah as CFO at J.C. Penney.

Ed Record, a former finance executive with Stages stores, Kohl’s, Belk and Federated, has been appointed to replace Ken Hannah as CFO at J.C. Penney.

Hannah joined J.C. Penney less than two years ago under the leadership of former CEO Ron Johnson, a former Apple executive who pursued a costly transformation strategy that alienated customers and led to sharp sales declines. Johnson was ousted last April and former J.C. Penney CEO Myron Ullman was brought back to restore growth and undo much of Johnson’s handiwork.

February 4, 2014

J.C. Penney scored its first positive quarterly sales result since 2011, reporting a same-store sales increase of 2% in the fourth quarter, which included the holiday season.

J.C. Penney scored its first positive quarterly sales result since 2011, reporting a same-store sales increase of 2% in the fourth quarter, which included the holiday season.

January 15, 2014

As part of its turnaround efforts, J. C. Penney will close 33 underperforming stores across the country. The move, which will result in the elimination of about 2,000 positions, is expected to result in an annual cost savings of approximately $65 million, beginning in 2014.

As part of its turnaround efforts, J. C. Penney will close 33 underperforming stores across the country. The move, which will result in the elimination of about 2,000 positions, is expected to result in an annual cost savings of approximately $65 million, beginning in 2014.

January 8, 2014

J.C. Penney provided an ambiguous update on its holiday season performance, indicating it showed continued progress in its turnaround efforts and was “pleased” with its performance.

J.C. Penney provided an ambiguous update on its holiday season performance, indicating it showed continued progress in its turnaround efforts and was “pleased” with its performance.

The company released a brief and vague statement Wednesday morning in which it noted, “customers responded well to the company’s offerings this holiday season, both in stores and online.”

January 2, 2014

Macy’s and Martha Stewart Living Omnimedia have reached a confidential settlement in their ongoing legal dispute over whether Martha Stewart breached a contract by selling certain goods at J.C. Penney Co.

Macy’s and Martha Stewart Living Omnimedia have reached a confidential settlement in their ongoing legal dispute over whether Martha Stewart breached a contract by selling certain goods at J.C. Penney Co.

Martha Stewart and Macy’s both said the terms of the settlement aren’t material to their businesses. In a separate statement, Macy's said that the settlement did not affect its outstanding claim against Penney.

December 13, 2013

J.C. Penny will eliminate the jcp menswear brand and reduce the assortments in its Joe Fresh, Michael Graves and Martha Stewart lines, Reuters reported.

J.C. Penny will eliminate the jcp menswear brand and reduce the assortments in its Joe Fresh, Michael Graves and Martha Stewart lines, Reuters reported.

All four brands were introduced by former CEO Ron Johnson. Penney plans to use the resulting space to emphasize its exclusive private-label brands.

Starting in January, Penney will shrink its Joe Fresh in-store shops and reduce the assortment, the report said, moving the shops away from the front entry to give a more prominent spot to the chain’s own a.n.a and jcp women's wear collections.

December 3, 2013

Same store sales increased 10.1% during November at J.C. Penney, the company announced during an update on its holiday performance.

Same store sales increased 10.1% during November at J.C. Penney, the company announced during an update on its holiday performance.

In addition to the double digit comp performance, J.C. Penney said its e-commerce sales through jcp.com continued to be strong, running well ahead of last year, consistent with last month's trend.

November 20, 2013

Despite posting a larger-than-expected loss for its third quarter, J.C. Penney pointed to hopeful signs that its business is starting to stabilize as its heads into the holiday season.

Despite posting a larger-than-expected loss for its third quarter, J.C. Penney pointed to hopeful signs that its business is starting to stabilize as its heads into the holiday season.

Penney reported a loss of $489 million in the three months ended Nov.2, compared with a loss of $123 million in the year-ago period.

Sales fell 5.1% to $2.78 billion. Same-store sales were down 4.8%, but the period ended with its first monthly gain since December 2011. And online sales rose 24.5%, to $266 million.

November 7, 2013

J.C. Penney scored a major victory during October with same stores sales up 0.9%. That may not seem like much, but for a company that has been written off by many the meager increase offers an encouraging tailwind heading into what retailer’s nationwide expect to be a challenging holiday season.

J.C. Penney scored a major victory during October with same stores sales up 0.9%. That may not seem like much, but for a company that has been written off by many the meager increase offers an encouraging tailwind heading into what retailer’s nationwide expect to be a challenging holiday season.

October 25, 2013

Shoppers at J.C. Penney stores this holiday season will discover a more rewarding experience following the retailer’s decision to team up with leading retail app Shopkick.

Shoppers at J.C. Penney stores this holiday season will discover a more rewarding experience following the retailer’s decision to team up with leading retail app Shopkick.

J.C. Penney shoppers will be able to Shopkick’s currency known as "kicks” along with special offers from the retailer when visiting any of its nearly 1,100 stores

October 24, 2013

Beauty retailer Sephora has appointed former Sears Canada and Loblaws executive Calvin McDonald as president and CEO of Sephora Americas, effective Jan. 1, 2014.

Beauty retailer Sephora has appointed former Sears Canada and Loblaws executive Calvin McDonald as president and CEO of Sephora Americas, effective Jan. 1, 2014.

McDonald succeeds David Suliteanu, who has led Sephora since July 2000. Suliteanu is becoming the CEO of Kendo Brands, a separate LVMH entity, which creates new beauty brands, as well as acquires brands. The Kendo portfolio today includes brands, such as Ole Henriksen, Kat von D, Formula X and Marc Jacobs Beauty, with others in development.

October 23, 2013

The Bon-Ton Stores will be opening its stores at 8 p.m. on Thanksgiving Day, joining a growing list of retailers getting a jump on Black Friday. The retailer is also offering in-store doorbuster deals through 2 p.m. Friday, Nov. 29.

The Bon-Ton Stores will be opening its stores at 8 p.m. on Thanksgiving Day, joining a growing list of retailers getting a jump on Black Friday. The retailer is also offering in-store doorbuster deals through 2 p.m. Friday, Nov. 29.

Online doorbusters will begin at 6 a.m. on Wednesday, Nov. 27. Other retailers that have already announced plans to open stores at 8 p.m. Thanksgiving night include Macy’s, J.C. Penney and Kohl’s.

October 18, 2013

J.C. Penney has joined the list of retail chains that plan to open their stores on Thanksgiving night to kick off the holiday shopping season.

J.C. Penney has joined the list of retail chains that plan to open their stores on Thanksgiving night to kick off the holiday shopping season. 

Penney will open most of its 1,100 stores at 8 p.m., the same as Macy's. Last year, Penney opened its stores at 6 a.m. on Black Friday, while rivals Macy’s and Kohl’s opened their doors at midnight.

October 8, 2013

Sales trends at J.C. Penney are improving and year end liquidity is now expected to exceed $2 billion following a recent stock offering, the company said Tuesday morning during an uncharacteristic mid-quarter update on its operating performance.

Sales trends at J.C. Penney are improving and year end liquidity is now expected to exceed $2 billion following a recent stock offering, the company said Tuesday morning during an uncharacteristic mid-quarter update on its operating performance.

October 2, 2013

J.C. Penney is making headlines again thanks to shareholder Alan Marcus, who is suing the troubled department store chain because of its recent decision to build equity by issuing more than $800 million worth of new stock, which sent share values plunging, Reuters reported.

J.C. Penney is making headlines again thanks to shareholder Alan Marcus, who is suing the troubled department store chain because of its recent decision to build equity by issuing more than $800 million worth of new stock, which sent share values plunging, Reuters reported.

The report said Marcus, who bought 300 shares of Penney stock on Sept. 26 shortly before the new stock was announced, is trying to obtain class-action status for his suit.

October 1, 2013

After more than 50 years in business, JC's 5 Star Outlet/J.C. Penney Outlet will be closing all 15 outlet stores in 14 states.

After more than 50 years in business, JC's 5 Star Outlet/J.C. Penney Outlet will be closing all 15 outlet stores in 14 states. 

"Going Out of Business" or "Total Inventory Blowout" sales will start Wednesday in each outlet store, offering consumers $70 million worth of name brand and private label products at significant discounts from the already low outlet prices of 25-75% off comparative retail.

September 26, 2013

J.C. Penney is looking to raise $750 million to $1 billion in cash equity. According to Reuters, J.C. Penney, which is valued at $2.6 billion, is considering issuing new stock shares as well as other unspecified alternatives.

J.C. Penney is looking to raise $750 million to $1 billion in cash equity. According to Reuters, J.C. Penney, which is valued at $2.6 billion, is considering issuing new stock shares as well as other unspecified alternatives.

August 20, 2013

Although J.C. Penney reported a wider-than-expected loss in the second quarter on a nearly 12% drop in revenue, small signs suggest that interim CEO Myron Ullman may be starting to turn things around.

DALLAS — Although J.C. Penney reported a wider-than-expected loss in the second quarter on a nearly 12% drop in revenue, small signs suggest that interim CEO Myron Ullman may be starting to turn things around.

The quarter was the first entirely under Ullman’s watch. Ullman returned to the retailer in April to undo the strategy put in place by Ron Johnson, who planned to transform J.C. Penney stores into a series of branded in-store shops.

August 13, 2013

J.C. Penney said activist investor Bill Ackman resigned from the company’s board and was replaced by former Federated Department Stores executive Ron Tysoe.

J.C. Penney said activist investor Bill Ackman resigned from the company’s board and was replaced by former Federated Department Stores executive Ron Tysoe.

August 8, 2013

In one of the stranger situations in retail right now, J.C. Penney is defending itself against charges by activist investor Bill Ackman that it’s not moving fast enough to hire a full time CEO and remedy a situation that Ackman created when the guy he picked nearly destroyed the company.

In one of the stranger situations in retail right now, J.C. Penney is defending itself against charges by activist investor Bill Ackman that it’s not moving fast enough to hire a full time CEO and remedy a situation that Ackman created when the guy he picked nearly destroyed the company.