Only a year ago the retailer was facing talk of bankruptcy, but today, it said it’s back on track. And importantly, it has no plans for store closures — a relief for its employees.
The struggling department store company made the announcement a week after Macy’s said it would lay off 2,500 employees and shutter five stores.
J.C. Penney issued a three-sentence press release on its holiday performance today. The company didn’t include a single number, spooking analysts who cover the company and sending shares down 8%.
J.C. Penney amended its licensing agreement with Justin Timberlake’s William Rast brand to end in June 2014 instead of January 2016, according to a regulatory filing today.
That’s what Chief Executive Officer Mike Ullman said at a Women’s Wear Daily conference today.
Do a Google Image search for “J.C. Penney logo.” The retailer says it’s changing its logo again.
Shares rose after the department-store company said comparable store sales fell by only 4% in September.
The department-store company says customers weren’t using it enough. With Ron Johnson gone, the $12 million system isn’t “fundamental architecture” anymore.
Maybe J.C. Penney can go on the Shark Tank.
J.C. Penney reported its second-quarter results today, and the biggest takeaway was that it’s essentially hitting the undo button on former CEO Ron Johnson’s tenure.
Activist investor and board member Bill Ackman is telling the world that he wants certain things for J.C. Penney. J.C. Penney is like, we are not at all happy with you.
Activist investor and board member Bill Ackman sent a letter expressing his frustration with the CEO search, according to a report from CNBC’s Scott Wapner.
Jeff Herbert, an outside consultant brought in by Sergio Zyman for J.C. Penney’s marketing department, is gone. So is the general merchandising manager of the home department, an area that was one of ex-leader Ron Johnson’s big bets.
The retailer’s online sales fell 33% last year while competitors are seeing double-digit gains.
J.C. Penney follows up “We’re Listening” ad with “Thank You” spot. It hopes great manners will lead to better sales after its last CEO caused a $4.3 billion drop in 2012 revenue.