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JCPenney Co.

  • JC’s 5 Star Outlet going out of business

    Columbus, Ohio -- JC's 5 Star Outlet, formerly the outlet store division of J.C. Penney, is winding down operations and closing its 15 stores. "Going out of business" sales will start Wednesday, offering shoppers deeper discounts than the usual outlet prices of 25% to 75% off retail.

    The 5 Star Outlet stores, which had been designated for closure by J.C. Penney, were acquired by SB Acquisitions in October 2011, and rebranded JC's 5 Star Outlet.
       

  • Hedge fund cuts Penney investment by nearly half

    Plano, Texas – Financial woes continue to plague embattled J.C. Penney Company as hedge fund Perry Capital cut its stake in the retailer by nearly half, selling nine million shares of Penney stock last week.

  • J.C. Penney looking to raise some $800 million from offering

    Plano, Texas – Shares of J.C. Penney Company took a beating on Friday after the retailer priced its $932 million share sale at a 7.4% discount and detailed its shrinking cash position.  

    Penney priced its sale of 84 million shares at $9.65, down from a closing price of $10.42 on Thursday.

    The new offering should raise more than $800 million. According to Reuters, J.C. Penney, which is valued at $2.6 billion, had been considering issuing new stock shares as well as other unspecified alternatives.

  • J.C. Penney seeks to raise cash equity

    J.C. Penney is looking to raise $750 million to $1 billion in cash equity. According to Reuters, J.C. Penney, which is valued at $2.6 billion, is considering issuing new stock shares as well as other unspecified alternatives.

  • J.C. Penney responds to critics

    New York -- J.C. Penney on Thursday shot back at reports that its sales were weak in the late August and early September back-to-school season and said it was pleased with the progress of its turnaround efforts.

    The company said it still expected positive comparable-store sales trends coming out of the third quarter and throughout the fourth, adding that its online sales continue to rise in double-digits over last year.

  • J.C. Penney seeks up to $1 billion in equity

    Plano, Texas – J.C. Penney Company Inc. reportedly seeks to raise $750 million to $1 billion in cash equity. According to Reuters, J.C. Penney, which is valued at $2.6 billion, is considering issuing new stock shares as well as other unspecified alternatives.

  • J.C. Penney falls to 13-year low

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  • Buckle leases space at Golden Triangle Mall

    Denton, Texas — Denim specialty retailer Buckle plans to open a store at Golden Triangle Mall on Oct.17. Golden Triangle, Denton’s only mall, features Macy’s, Dillard’s, J.C. Penney, Sears, Barnes & Noble and DSW Show Warehouse as anchors.

    Cencor Realty Services manages the mall, and The Weitzman Group www.weitzmangroup.com is the exclusive leasing agent for the property.

     

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