Grocery chain Fresh & Easy’s British parent Tesco confirmed Wednesday that it will abandon its U.S. business, selling off the 199-store chain and taking a $3.5 billion write-down.
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.
Survey results by Deloitte, released Tuesday, found that even as the economy improves, 94% of Americans indicate they will remain cautious and keep their spending for food, beverage and household goods at its current level.
A report by the Wall Street Journal said that hedge fund Barington Capital Group is pressing Jones Group Inc. to slim down by divesting parts of its portfolio.
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.
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.
