Content about Penney

May 17, 2013
J.C. Penney Q1 sales plunge

J.C. Penney reported a deeper-than-expected loss of $348 million for its first quarter, compared to $163 million in the year-ago period, amid a 16.4% decline in revenue.

April 19, 2013
JCP rehires company veteran, scores latest court victory

The revolving door continues to turn at Penney with the news that Ron Johnson-appointee Nick Wooster, SVP of product and design is out while company veteran Ken Mangone has returned to the fold.

April 9, 2013
Ullman returns as JCPenney CEO

Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately, replacing Ron Johnson, who is leaving the company.

March 27, 2013
J.C. Penney resumes old pricing strategy

A Tuesday report by Reuters said that embattled J.C. Penney Co. has recently revived its previously abandoned pricing strategy of raising prices on its own brands then discounting them as a way to spike sales and margins.

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.

July 2, 2012
J.C. Penney launches new charitable program

J.C. Penney Co. has launched a charitable initiative, called jcp cares, which will support a new cause each month by inviting customers to round up their purchases to the nearest whole dollar and donate the difference to the company's featured charity partner.

May 31, 2012
Ackman on JCPenney: Wait until August

William Ackman, founder and CEO of Pershing Square Capital Management, said that J.C. Penney Co. should start to see “real progress” in early 2013.

February 22, 2011
J.C. Penney unveils new logo

J.C. Penney said Tuesday it has introduced a new logo, designed to symbolize the retailer’s transformation to a more updated and relevant destination.

January 24, 2011
Former Target foe takes on JCP

Activist investor and hedge fund executive Bill Ackman has accomplished at J.C. Penney what he was unable to do at Target. He secured a seat on the department store retailer’s board after purchasing a bunch of shares and will now be able to push for strategies to increase shareholder value. Joining Ackman on the J.C. Penney board is another large shareholder, Steven Roth, chairman of Vornado Realty Trust. Both men joined the company as it announced plans to close five stores, wind down its catalog business, realign call center operations and reorganize a custom decorating business.

January 24, 2011
J.C. Penney to close stores as part of restructuring; names Ackman to board

J.C. Penney on Monday unveiled a restructuring plan, which includes close five department stores and one home store, because they are no longer profitable enough.

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