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JCPenney Co.

  • CBL acquires Dakota Square Mall

    Minot, N.D. -- Chattanooga, Tenn.-based CBL & Associates Properties announced it has acquired Dakota Square Mall in Minot, N.D.

    CBL acquired the property from the Lightstone Group.

  • Panera to open South Hill Mall location

    Puyallup, Wash. -- Youngstown, Ohio-based Cafaro Co. said that Panera Bread will open a new bakery-café at its South Hill Mall property in Puyallup, Wash.

    The new Panera Bread, slated to open this fall, will occupy a 4,300-sq.-ft. building recently vacated by Krispy Kreme.

    The 1 million-sq.-ft. South Hill Mall is anchored by Target, Macy’s, J.C. Penney, Sears and Regal Cinemas, and features 120 specialty shops.
     

  • Is Time on Penney’s Side?

    Does J.C. Penney have time on its side? Or to put it another way: How long will investors wait for J.C. Penney’s transformation? Because, based on the chain’s awful first quarter, it doesn’t appear to have even taken root yet. I’m not surprised.

  • J.C. Penney to roll out several new brands; open 20,000-sq.-ft. in-store home shop

    New York -- J.C. Penney executives laid out further details of their strategy going forward during the chain’s quarterly conference call with investors. The call followed the release of J.C. Penney’s first quarter results, when it reported a worse-then-expected loss of $163 million, and a 19% drop in same-store sales.

    J.C. Penney said it would launch a new private label apparel brand, jcp, for both men and women. The brand is set to debut in August.

  • Divaris to lease, manage Marquis in Williamsburg, Va.

    Williamsburg, Va. -- Divaris Real Estate announced it has been appointed the exclusive leasing and management firm for The Marquis, located in Williamsburg, Va.

    The Marquis is a 750,000-sq.-ft., regional power center. At its completion, The Marquis will be the largest retail development in Williamsburg, featuring specialty retailers and restaurants and several big-box retailers including Target, Kohl’s, Dick’s Sporting Goods, Best Buy and J.C. Penney.

  • Francis' marketing magic slow to take hold at JCPenney

    When JCPenney hired former Target chief marketer, Michael Francis, to serve as president, the company no doubt thought he would bring with him a bit of Target's magic. Now, about six months since he assumed his role at JCPenney, the company has undergone a number of personnel changes and the implementation of its new "fair and square" price strategy, and investors are waiting for it to pay off.

  • J.C. Penney loses $163 million in Q1; same-store sales slide 18.9%

    Dallas -- J. C. Penney Co. on Tuesday reported a loss of $163 million, or 75 cents a share, for its fiscal quarter ended April 28, 2012, compared with a year-earlier profit of $64 million.

    Excluding markdowns to reduce inventory levels, restructuring costs and pension-plan expenses, the loss was $55 million or $0.25 per share, compared with a year-earlier profit of 36 cents.

  • JCPenney stands behind strategy as comps, earnings slip in Q1

    PLANO, Texas —  From personnel changes to its new "fair and square" price strategy, JCPenney has put a lot into changing the company's image, and investors are waiting for it to pay off. For the first quarter, the company reported an adjusted net loss of $55 million or 25 cents per share, excluding markdowns taken as a result of the company's continuing efforts to reduce inventory levels to align with its new strategy, restructuring and management transition charges and non-cash qualified pension expense.

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