Content about J. C. Penney

May 17, 2013
Another big loss for J.C. Penney as sales plunge 16.4%

J.C. Penney Co. 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.

May 14, 2013
Report: J.C. Penney stores, real estate worth $4.06 billion

A report by Reuters said that J.C. Penney Co.’s real estate holdings – including stores, DCs and headquarters – are worth a total of $4.06 billion.

May 7, 2013
J.C. Penney Q1 same-store sales down 16.6%, missing estimates

In preliminary results, J.C. Penney Co. reported that same-store sales in its first quarter decreased approximately 16.6%, a deeper drop than was expected.

May 6, 2013
J.C. Penney and Mr. Ullman’s ‘Next’ 100 Days

Most incoming CEO’s put together a ‘100-day plan’ as they embark on the new role. In the case of Mr. Ullman, it is his second 100-day plan at J.C. Penney.

May 2, 2013
Flipping the Coin

Last August in this space, I discussed the troubling sales trends and tumbling earnings from iconic retailer J.C. Penney, mentioning that the growing pains associated with implementing CEO Ron Johnson’s ambitious brand overhaul might have been a case of “too much too soon.”

May 1, 2013
J.C. Penney asks customers to come back in its new ad

J.C. Penney Co. unveiled an advertisement on Facebook that asks customers to return to its stores.

April 30, 2013
Appeals court: J.C. Penny can sell unbranded Martha Stewart line

J.C. Penney Co. can continue to sell a line of Martha Stewart home goods it introduced last week under "JCP Everyday" brand pending the outcome of a trial with Macy's, a New York appeals court ruled on Tuesday.

April 26, 2013
Report: Goldman Sachs arranges $1.75 billion J.C. Penney loan

Goldman Sachs has put together a $1.75 billion financing package for J.C. Penney Co., with the loan backed by the retailer’s real estate and other assets, according to CNBC.

April 24, 2013
Top real estate and store development exec leaves J.C. Penney

Another Ron Johnson-appointee and former Apple executive has left J.C. Penney.

April 23, 2013
J.C. Penney Lesson No. 1: Know Your Customer

By Leslie Hand, research director, IDC Retail Insights

Ron Johnson's highly publicized short tenure at J.C. Penney, or JCP, as it was rebranded, will certainly make it into the textbooks and graduate theses on what to do and what not to do when undertaking a significant retail business transformation. The primary failure was not putting customer needs first in what promised to be an excellent long term strategy. Oops — forget the customer in an omni-channel customer strategy?

What a colossal mistake!

April 23, 2013
J.C. Penney names VP human resources
J. C. Penney Company announced the promotion of Brynn Evanson to EVP human resources, leading all HR functions across stores, supply chain and the home office, including team member relations, recruiting, learning and development, compensation and benefits, and talent operations.
April 23, 2013
Report: Penney working with AlixPartners
J.C. Penney has been working with consulting firm AlixPartners, which specializes in turnarounds, for about a month, the Wall Street Journal reported.
April 22, 2013
J.C. Penney selling Martha Stewart-designed goods while court battle rages
A Monday report by Reuters said that J.C. Penney has begun selling the Martha Stewart “JCP Everyday” lines of home goods, without waiting for a decision from the New York court.
April 19, 2013
Two more executives exit J.C. Penney

J.C. Penney announced that its COO Michael Kramer has resigned, along with chief talent officer Daniel Walker – bringing Penney’s April executive casualty number to five.

April 18, 2013
J. C. Penney wins latest court round; rehires company vet Ken Mangone

A New York judge on Thursday rejected a request by Macy's to block J.C. Penney from selling Martha Stewart goods under the "JCP Everyday" label for now, while it appeals a ruling allowing the sale.

April 18, 2013
Report: J.C. Penney in talks for $500 million loan

The Wall Street Journal reported Thursday that J.C. Penney is now in talks with Wells Fargo and at least two other investment firms, seeking a $500 million loan to shore up the beleaguered retailer’s cash reserves.

April 17, 2013
Macy’s wins temporary ban against some J.C. Penney Martha Stewart sales

The latest round in the battle between Macy’s and J.C. Penney over the sale of Martha Stewart goods went to Macy’s, which on Monday challenged a judge’s decision on Friday to allow certain non-branded Martha Steward items to be sold — at least temporarily — in J.C. Penney stores under the JCP Everyday label.

April 16, 2013
J.C. Penney considering real estate spinoff to raise cash

A Tuesday report by Bloomberg said that J.C. Penney has an additional plan to raise money; the retailer is said to be considering a spinoff of its real-estate holdings into a new unit that could issue debt.

April 16, 2013
Macy's appeals latest ruling Martha Stewart-J.C. Penney dispute

Macy’s Inc. filed an appeal on Monday, challenging Manhattan state court judge Jeffrey Oing’s Friday ruling that J.C. Penney can sell unbranded Martha Stewart goods in its stores, at least temporarily.

April 15, 2013
J.C. Penney taps $850 million from credit facility

J.C. Penney Co. on Monday announced it has drawn $850 million from its $1.85 billion revolving credit line.

April 14, 2013
J.C. Penney scores victory in dispute with Macy’s — for now

A New York State Supreme Court Judge ruled on Friday that J.C. Penney’s could temporarily sell certain housewares products from Martha Stewart Living in Penney stores.

April 12, 2013
Report: J.C. Penney hires Blackstone to raise some $1 billion

J.C. Penney Co. has hired the Blackstone Group explore how best to position the firm financially and help it raise cash, the Wall Street Journal reported.

April 11, 2013
Judge won’t dismiss Macy’s claim against Martha Stewart

New York State Supreme Court Justice Jeffrey Oing on Thursday refused to dismiss Macy's Inc's claim that Martha Stewart Living Omnimedia violated its contract when it designed certain merchandise for J.C. Penney Co., regardless of whether the items carry the Martha Stewart brand.

April 11, 2013
Report: Three more execs leave J.C. Penney, including COO

Three executives who had previously worked with Ron Johnson at Apple and then joined him at J.C. Penney have left the embattled department store chain in the wake of Johnson’s ouster, the New York Post reported.

April 11, 2013
The J.C. Penney Debacle: Five Lessons Learned

Here are the five lessons I learned from the J.C. Penney debacle — unfortunately we knew all of this before Ron took his ideas to market.

© 2013