Content about James Cash Penney

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.

New York -- Another Ron Johnson-appointee and former Apple executive has left J.C. Penney. Ben Fay, who was brought as EVP real estate, store design and development, has left the company, according to the Dallas Morning News. Returning to Penney in an advisory capacity is the chain's former senior VP of property development, Tom Clerkin, who took early retirement from the company last year, the report said.

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.

Plano, Texas -- 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. Evanson will join the company`s executive board, reporting to CEO Myron E. (Mike) Ullman, III.

Evanson, 44, joined J.C. Penney in 2009 and most recently served as VP compensation, benefits and talent operations.

February 13, 2013

J.C. Penney increased credit facility

J. C. Penney Co boosted its borrowing capacity under a bank credit facility by $100 million to $1.85 billion and expanded an option to borrow more at a later date.

New York -- J. C. Penney Co boosted its borrowing capacity under a bank credit facility by $100 million to $1.85 billion and expanded an option to borrow more at a later date.

"As we enter the second year of our transformation, today's announcement reflects the confidence of our banking group in our long-term strategy and further strengthens our liquidity position as we continue to execute our plan," J.C. Penny CFO Ken Hannah said in a statement.

September 14, 2012

J.C. Penney to webcast Q&A with CEO on September 19

J. C. Penney Company said that in conjunction with an open house tour of its new in-store shops, the company will webcast a question and answer session with its chief executive officer, Ron Johnson.

Plano, Texas -- J. C. Penney Company said that in conjunction with an open house tour of its new in-store shops, the company will webcast a question and answer session with its chief executive officer, Ron Johnson.

The question and answer session will be held on Sept.19, starting at approximately 2:45 p.m. ET and will be available via live webcast on J.C. Penney’s Investor Relations page.

Replays of the webcast will be available for up to 90 days after the event.

August 6, 2012

J.C. Penney CEO seeks customer feedback

J.C. Penney chairman and CEO Ron Johnson on Monday sent out an email to the chain’s customers detailing how it is returning to the pricing policies its founder James Cash Penney intended.

New York -- J.C. Penney chairman and CEO Ron Johnson on Monday sent out an email to the chain’s customers detailing how it is returning to the pricing policies its founder James Cash Penney intended.

"While you will see many changes, you can rest assured that we'll never lose sight of our founder's values," Johnson wrote. "When James Cash Penney built his first retail stores over a century ago, he called them 'The Golden Rule,' because treating customers with respect was his highest priority."

August 6, 2012

J.C. Penney CEO seeks customer feedback

J.C. Penney chairman and CEO Ron Johnson on Monday sent out an email to the chain’s customers detailing how it is returning to the pricing policies its founder James Cash Penney intended.

July 25, 2012

J.C. Penney to open 700 Joe Fresh store-in-stores in April 2013

J.C. Penney announced a partnership with Canadian fast-fashion brand Joe Fresh that will see some 700 Joe Fresh in-store boutiques open in J.C. Penney department stores in April 2013.

Plano, Texas -- J.C. Penney announced Wednesday a partnership with Canadian fast-fashion brand Joe Fresh that will see some 700 Joe Fresh in-store boutiques open in J.C. Penney department stores in April 2013.

July 18, 2012

J.C. Penney to implement complete suite of Oracle Retail applications

J. C. Penney Co. will implement a complete, open and integrated suite of Oracle Retail solutions designed to streamline operations and improve the cross-channel customer experience.

Redwood Shores, Calif. -- J. C. Penney Co. will implement a complete, open and integrated suite of Oracle Retail solutions designed to streamline operations and improve the cross-channel customer experience. The department store retailer will deploy applications in a host of critical areas, including merchandising, supply chain and store operation, to support its transformation initiatives.

May 15, 2012

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

J.C. Penney Co. reported a wider-than-expected 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.

Dallas -- J.C. Penney Co. on Tuesday reported a wider-than-expected 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.

May 3, 2012

J.C. Penney names CFO

J. C. Penney Co. said that Ken Hannah has been named CFO, effective May 7.

Dallas -- J. C. Penney Co. said that Ken Hannah has been named CFO, effective May 7.

Hannah, who brings over 20 years of finance, operations and audit experience from a wide range of leading companies that include General Electric, Boeing and The Home Depot, has spent the last six years at MEMC Electronic Materials, where he served as president of solar energy, responsible for improving process discipline, simplifying the organization and reducing cost to drive growth in the company's solar business

January 18, 2012

J.C. Penney names chief technology officer

J. C. Penney Co. has tapped another former Apple executive to join its executive ranks. J. C. Penney announced that Kristen E. Blum has been named executive VP and chief technology officer, effective Jan. 23.

Plano, Texas -- J. C. Penney Co. has tapped another former Apple executive to join its executive ranks. J. C. Penney announced that Kristen E. Blum has been named executive VP and chief technology officer, effective Jan. 23. She reports to COO Mike Kramer, and has responsibility for the company's jcp.com business and information technology systems.

January 10, 2012

J.C. Penney names chairman of the board

J.C. Penney Co. announced that Thomas J. Engibous will become chairman of its board of directors, effective Jan. 28.

Plano, Texas -- J.C. Penney Co. announced Tuesday that Thomas J. Engibous will become chairman of its board of directors, effective Jan. 28.

Engibous was named to the board in 1999 and has served in presiding director and lead independent director roles since 2008. He will assume the chairman's role from Myron E. (Mike) Ullman, III, J.C. Penney’s former CEO, who will step down as executive chairman.

Engibous is the retired chairman of Texas Instruments Inc.

October 18, 2011

Fifteen J.C. Penney outlet stores acquired by SB Capital

SB Capital Group, a Schottenstein affiliate, said Monday it has acquired 15 J.C. Penney Outlet Stores from J. C. Penney Co., and will rebrand the units as JC’s 5 Star Outlet.

Columbus, Ohio -- SB Capital Group, a Schottenstein affiliate, said Monday it has acquired 15 J.C. Penney Outlet Stores from J. C. Penney Co., and will rebrand the units as JC’s 5 Star Outlet.

According to SB Capital, the stores will operate for up to a 21-month transitional period as J.C. Penney Outlet Stores, as the stores are converted to JC's 5 Star Outlet. J.C. Penney will continue to supply the stores with overstocks and end-of-season merchandise, and all existing store staffs and management have been retained.

October 12, 2011

J.C. Penney Co. to acquire Liz Claiborne brands for $268 million

J. C. Penney Co. said Wednesday it will acquire the worldwide rights for the Liz Claiborne family of brands, as well as the United States and Puerto Rico rights for the Monet brand for $267.5 million.

Plano, Texas -- J. C. Penney Co. said Wednesday it will acquire the worldwide rights for the Liz Claiborne family of brands, as well as the United States and Puerto Rico rights for the Monet brand for $267.5 million.

The company has been the exclusive licensee for all Liz Claiborne and Claiborne-branded merchandise in the United States and Puerto Rico since August 2010.

June 20, 2011

J.C. Penney details succession: Ullman to leave in February

J.C. Penney Co. on Monday detailed the timeline of its upcoming change in executive management with the news that current CEO and chairman Myron “Mike” Ullman will leave the company and the board in February 2012 after a three-month transition period during which he will hand over the reins in full to his successor, Apple retail guru Ron Johnson.

New York City -- J.C. Penney Co. on Monday detailed the timeline of its upcoming change in executive management with the news that current CEO and chairman Myron “Mike” Ullman will leave the company and the board in February 2012 after a three-month transition period during which he will hand over the reins in full to his successor, Apple retail guru Ron Johnson.

June 14, 2011

Apple’s Ron Johnson to become CEO of J.C. Penney

Ron Johnson, the man credited with building Apple’s wildly successful retail empire, is leaving the high-tech company to become CEO of J.C. Penney Co.

New York City -- Ron Johnson, the man credited with building Apple’s wildly successful retail empire, is leaving the high-tech company to become CEO of J.C. Penney Co.

May 2, 2011

J.C. Penney completes new $1.25 billion credit facility

J. C. Penney Corp. has completed a new five-year $1.25 billion bank credit facility.

Plano, Texas -- J. C. Penney Corp. has completed a new five-year $1.25 billion bank credit facility.

The new facility replaces a $750 million credit facility that was scheduled to mature in April 2012 and provides further strength to the company's liquidity position. The facility may be used for general corporate purposes and will mature in April 2016.

February 9, 2011

William Ackman, Steven Roth named to J.C. Penney board

J. C. Penney Co. announced Wednesday that its board of directors has elected William A. Ackman, founder and CEO of Pershing Square Capital Management, and Steven Roth, chairman of the board of Vornado Realty Trust, as directors.

Plano, Texas -- J. C. Penney Co. announced Wednesday that its board of directors has elected William A. Ackman, founder and CEO of Pershing Square Capital Management, and Steven Roth, chairman of the board of Vornado Realty Trust, as directors.

The appointments had been previously announced on Jan. 24.

January 11, 2011

J.C. Penney names CFO

J. C. Penney Co. has named Michael Dastugue as executive VP and CFO.

Dallas -- J. C. Penney Co. has named Michael Dastugue as executive VP and CFO. He served most recently as senior VP finance, and was responsible for directing the financial strategies of all J.C. Penney business units.

Dastugue succeeds Robert Cavanaugh, who will serve as an adviser to chairman and CEO Myron Ullman until his retirement in January 2012.

May 25, 2010

J.C. Penney closes senior note offering

J. C. Penney Co. announced the completion of two related transactions aimed to further strengthen...

May 2, 2010

J.C. Penney sets goal to reduce energy use 20% by 2015

J. C. Penney Co. announced an environmental goal to reduce facility energy consumption 20% per...

December 8, 2008

J.C. Penney Announces Green Truck-Fleet Initiative

J. C. Penney Co. and PDS Trucking, Inc., a subsidiary of Pacer Distribution Services, Inc.,...

September 22, 2008

Hurricane Ike Won’t Stop J.C. Penney Openings

J.C. Penney Co. announced it will open two new stores in the Houston market as...

August 13, 2008

J.C. Penney Launches Solar- and Wind-Power Projects

J. C. Penney Co. announced plans for solar- and wind-power projects that will supply electricity...

June 24, 2008

J.C. Penney to Reduce Store Openings in 2009

J.C. Penney Co. will further slow the pace of new department store openings and cut...