Trading Partners

Plano, Texas -- J.C. Penney Co. on Monday announced it has drawn $850 million from its $1.85 billion revolving credit line. The company said it will use the proceeds  to fund working capital requirements and capital expenditures including replenishing inventory in anticipation of the completion of for its newly overhauled in-store home departments, which are due to be unveiled next month.

SALT LAKE CITY — Overstock.com founder Patrick M. Byrne has returned as CEO of online discount retailer.

Byrne took a medical leave of absence in February to address cardiac issues thought to be associated with cancer treatments received much earlier in his life. 

CINCINNATI — A major initiative unveiled by Kroger could have the retailer’s suppliers scrambling to ensure palm oil used in products the retailer carries are obtained from sources who meet strict harvesting guidelines.

Kroger issued the following policy statement:

Palm oil has become the world's leading oil crop and today accounts for roughly one-third of the global vegetable oil production. This oil has grown in popularity within the food industry as a cooking oil, shortening, margarine, milk-fat replacer, and as a cocoa-butter substitute.

New York -- A report by the Wall Street Journal on Friday said that hedge fund Barington Capital Group is pressing Jones Group Inc. to slim down by divesting parts of its portfolio.

Citing an unidentified source, WSJ said that Barington – in a meeting earlier this month – urged Jones to hire financial advisers to analyze many of the company’s 35-plus to pare down the portfolio and focus on its core and emerging brands.

NEW YORK — 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.

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.  

New York -- 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.

ROUND ROCK, Texas — Dell OEM Solutions announced that it has worked with Microsoft Corp. to become a global distributor, outsource manufacturer and integrator for Windows Embedded products.

The agreement, which went into effect on April 1, enables Dell to provide Windows Embedded product licenses (COAs) with Dell product solutions. This means it is easier for Dell OEM Solutions customers to bring their products and solutions to market through:

• Shorter lead times with in-stock COAs

Arlington, Va. -- A statement by The Retail Industry Leaders Association regarding President Obama’s 2014 budget proposal was issued Wednesday, saying, “While we applaud the President for recognizing the urgent need for revenue neutral corporate tax reform, his proposal falls short of the bold reforms needed.” said Bill Hughes, SVP government affairs.  

Washington, D.C. -- The National Retail Federation issued a statement on Tuesday in support of the International Longshoreman’s Association’s approval of a new long-term master labor contract covering port terminal operations along the East and Gulf Coast ports.