Content about The Wall Street Journal

April 12, 2013
Report: Blackstone to aid JCPenney in raising cash

JCPenney is turning to Blackstone Group to help raise cash and better position itself financially, the Wall Street Journal reported.

NEW YORK — JCPenney is turning to Blackstone Group to help raise cash and better position itself financially, the Wall Street Journal reported.

The company is reportedly seeking $1 billion in cash, according to the Wall Street Journal, which added that options could include selling a minority stake. Penney already has been in contact with several private equity firms about a potential investment, according to the report.  

March 5, 2013
JCPenney’s problems mount

JCPenney Co. last Tuesday dominated the retail news as its shares dropped 10.6% to a four-year low after reports that one of its largest shareholders had sold a chunk of the troubled company’s stock.

NEW YORK — JCPenney Co. continues to dominate the retail news as its shares dropped 10.6% yesterday to a four-year low after reports that one of its largest shareholders had sold a chunk of the troubled company’s stock. And in a late afternoon report, The Wall Street Journal said that a group of Penney directors is ready to get rid of CEO Ron Johnson, or push to sell the chain unless he can stop the company’s heavy bleeding this year.

February 13, 2013
Harris Teeter possibly on sales block

Carolina retailer Harris Teeter may be exploring a sale, the Wall Street Journal reported Tuesday evening.

MATTHEWS, N.C. — Carolina retailer Harris Teeter may be exploring a sale, the Wall Street Journal reported Tuesday evening. 

According to the report, Harris Teeter is being advised by JP Morgan. WSJ tabulated Harris Teeter's market value at $1.8 billion for its 200 supermarkets. 

January 7, 2013
Report: sale of Supervalu imminent

The breakup of Supervalu to private equity firm Cerberus Capital Management could be announced as soon as Thursday when Supervalu shares third-quarter results with analysts, according to a report in the Wall Street Journal published Friday.

NEW YORK — The breakup of Supervalu to private equity firm Cerberus Capital Management could be announced as soon as Thursday when Supervalu shares third-quarter results with analysts, according to a report in the Wall Street Journal published Friday.

Bloomberg also reported that a deal between Cerberus and Supervalu was imminent. According to that Bloomberg report, Cerberus would lead an investment of around $500 million in equity.

December 1, 2011
Talbots records sharp Q3 loss amid reports of CEO shakeup

Talbots Inc. reported Thursday a loss of $22 million for the third quarter, compared with a profit of $17 million in the year-ago period.

HINGHAM, Mass. — Talbots Inc. reported Thursday a loss of $22 million for the third quarter, compared with a profit of $17 million in the year-ago period. It was the apparel retailer’s third loss in four quarters. Talbots has posted an annual loss in three of the last four years.

June 3, 2011
Report: Buyout firm in talks with Borders

Private equity firm Gores Group is in talks to buy more than half of Borders Group's remaining stores, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

NEW YORK — Private equity firm Gores Group is in talks to buy more than half of Borders Group's remaining stores, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

Borders, which filed for Chapter 11 bankruptcy protection in February, would be able to continue operating as a going concern, according to the report.

Other suitors are also talking with Borders, the Wall Street Journal reported.

April 28, 2011
Walmart testing grocery delivery service

Regional supermarket chains that offer grocery delivery services may soon have some competition from Walmart if its program is expanded nationwide. According to several reports including one in The Wall Street Journal and another in The New York Times, Walmart is testing its Walmart To Go service in San Jose, Calif.

According to the company’s beta website, customers can shop online for food, beauty and household goods for a delivery fee starting at $5. The company is even offering first time users free delivery on orders of at least $49 when they use a special eVoucher.

Regional supermarket chains that offer grocery delivery services may soon have some competition from Walmart if its program is expanded nationwide. According to several reports including one in The Wall Street Journal and another in The New York Times, Walmart is testing its Walmart To Go service in San Jose, Calif. 

April 19, 2011
Report: Dish Network to assume 500+ Blockbuster leases

A report Monday by the Wall Street Journal said that Dish Network Corp. will assume leases on more than 500 Blockbuster stores after it completes its acquisition of the video-rental chain.

New York City -- A report Monday by the Wall Street Journal said that Dish Network Corp. will assume leases on more than 500 Blockbuster stores after it completes its acquisition of the video-rental chain.

The lease takeovers will assure that Blockbuster will maintain some physical presence.

In a filing with the U.S. Bankruptcy Court in Manhattan, Blockbuster also listed hundreds of locations where it plans to reject leases, as its number of open stores continues to dwindle.

April 19, 2011
Report: Dish Network to assume 500+ Blockbuster leases

A report Monday by the Wall Street Journal said that Dish Network Corp. will assume leases on more than 500 Blockbuster stores after it completes its acquisition of the video-rental chain.

New York City -- A report Monday by the Wall Street Journal said that Dish Network Corp. will assume leases on more than 500 Blockbuster stores after it completes its acquisition of the video-rental chain.

The lease takeovers will assure that Blockbuster will maintain some physical presence.

In a filing with the U.S. Bankruptcy Court in Manhattan, Blockbuster also listed hundreds of locations where it plans to reject leases, as its number of open stores continues to dwindle.

February 8, 2011
Barneys CEO unveils renovation plans

Barneys New York CEO Mark Lee said Monday that he has plans to launch a renovation program for existing stores as well as an overhaul to the retailer’s website.

NEW YORK -- Barneys New York CEO Mark Lee said Monday that he has plans to launch a renovation program for existing stores as well as an overhaul to the retailer’s website.

According to a report by the Wall Street Journal, Lee said at a Monday morning breakfast that changes will be substantial, as the retailer has the largest renovation budget for existing stores that Barneys has seen in at least seven years.

December 21, 2010
Report: Shaw's may be pulled from sale block

Supervalu is having difficulty divesting its New-England based Shaw’s chain for more than $1 billion, the Wall Street Journal reported Tuesday, and the Minnesota grocery conglomerate may be ready to take down its "for-sale" sign.

MINNEAPOLIS — Supervalu is having difficulty divesting its New-England based Shaw’s chain for more than $1 billion, the Wall Street Journal reported Tuesday, and the Minnesota grocery conglomerate may be ready to take down its "for-sale" sign.

According to the report, Shaw’s has been on the block for several months with no takers. Many bids from private-equity firms actually came in below the asking price.