Content about J.C. Penney

March 10, 2014

With Amazon’s customer retention rate hovering north of 90%, customer loyalty initiatives are understandably at the top of every retail CMO’s to-do list.

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.

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.

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.

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.

January 13, 2014

Walmart CEO Bill Simon was among a group of six senior excutives added to the National Retail Federations board of directors.

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.

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.

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.

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.

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.

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.

October 9, 2013

Saks chairman and CEO Stephen Sadove has been named to the board of directors at J.C. Penney to fill a position being vacated by Geraldine Laybourne.

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.

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.

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.

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.

September 13, 2013

Vornado Realty Trust chairman and CEO Steven Roth has resigned from J.C. Penney’s board of directors, according to a Reuters report.

August 26, 2013

J.C. Penney filed a registration statement with the Securities and Exchange Commission late Monday that would allow for activist investor Bill Ackman to unload his entire stake in the company via a secondary stock offering.

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.

August 15, 2013

As the turmoil with hedge fund manager Bill Ackman winds down at J.C. Penney, another of the company’s investors is making headlines. This time it’s George Soros, who according to regulatory filings, has added two million shares to his current 19.98 million in Penney holdings.

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.

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.

August 5, 2013

Efforts to revitalize the J.C. Penney brand are now under the leadership of Debra Berman, a former Kraft and advertising executive who was named SVP of marketing at the struggling retailer.

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