Content about Penney

September 4, 2014

J.C. Penney Co. is testing new design treatments, merchandise presentations and service options at its new — and first ever — location in Brooklyn, New York.

J.C. Penney Co. is testing new design treatments, merchandise presentations and service options at its new — and first ever — location in Brooklyn, New York. Located at Gateway Center, the 124,000-sq.-ft., single-level store boasts a contemporary exterior that incorporates clean lines, large glass panels, red accents and the unmistakable Penney logo.

The interior is bright and modern, with large murals of local landmarks. A variety of flooring surfaces, including polished concrete, wood laminates and grey ceramic tile, complement the streamlined design.

August 5, 2014

J.C. Penney Company will open its first-ever store in Brooklyn, further increasing its New York City footprint, on Aug. 29.

Plano, Texas -- J.C. Penney Company will open its first-ever store in Brooklyn, further increasing its New York City footprint, on Aug. 29. The all-new 124,000-sq.-ft., single-level store, located in Gateway Center, will provide a look at Penney's updated store model, which includes a new footwear format, an increased focus on jewelry, and new energy efficiency standards.

July 14, 2014

Mindy Grossman, the chief executive of HSN Inc., reportedly declined an offer to become CEO of J.C. Penney Company in May.

Plano, Texas – Mindy Grossman, the chief executive of HSN Inc., reportedly declined an offer to become CEO of J.C. Penney Company in May 2014. According to the Wall Street Journal, Grossman had been in advanced negotiations with Penney to take the reins as CEO but discussions ended for an unspecified reason.

July 9, 2014

Ron Johnson, who has been keeping a low profile since he was ousted from J.C. Penney in April 2013, made a rare guest appearance at Stanford University.

New York -- Ron Johnson, who has been keeping a relatively low profile since he was ousted from J.C. Penney in April 2013, took to the podium in May, as a guest lecturer at Stanford University.

July 2, 2014

J.C. Penney has filed an appeal of a June 16 ruling by the New York State Supreme Court that it "tortuously" interfered with Macy’s 2006 contract with Martha Stewart Living Omnimedia when Penney entered into its own contract with Martha Stewart in 2011.

Plano, Texas – J.C. Penney has filed an appeal of a June 16 ruling by the New York State Supreme Court that it "tortuously" interfered with Macy’s 2006 contract with Martha Stewart Living Omnimedia when Penney entered into its own contract with Martha Stewart in 2011. In the ruling, Justice Jeffrey K. Oing said Macy’s failed to prove that it is entitled to punitive damages.

June 16, 2014

In a long-awaited ruling handed down Monday by the New York State Supreme Court, J.C. Penney has been found to have "tortiously" interfered with Macy’s 2006 contract with Martha Stewart Living Omnimedia when Penney entered into its own contract with Martha Stewart in 2011.

New York -- In a long-awaited ruling  handed down Monday by the New York State Supreme Court, J.C. Penney has been found to have "tortiously" interfered with Macy’s 2006 contract with Martha Stewart Living Omnimedia when Penney entered into its own contract with Martha Stewart in 2011.

May 15, 2014

J.C. Penney topped expectations for the first quarter, reporting a 6.2% increase in same-store sales that easily topped views.

Dallas -- J.C. Penney topped expectations for the first quarter, reporting a 6.2% increase in same-store sales that easily topped views. Revenue for the quarter, which ended May 3, rose to $2.80 billion, above the $2.71 billion analysts expected, up from $2.64 billion in the year-ago period.  

It was the second consecutive month of same-store sales gains for Penney, and the retailer said sales improved sequentially each month within the quarter.

Penney lost $352 million for the quarter, not as much as analysts expected.

March 24, 2014

In a March 21 regulatory filing, J.C. Penney Co. Inc. said it does not expect the result of a lawsuit filed by Macy’s Inc. alleging that Penney was selling Martha Stewart Living products in violation of an exclusivity agreement to have a significant negative impact on its results.

Plano, Texas – In a March 21 regulatory filing, J.C. Penney Co. Inc. said it does not expect the result of a lawsuit filed by Macy’s Inc. alleging that Penney was selling Martha Stewart Living products in violation of an exclusivity agreement to have a significant negative impact on its results.

March 10, 2014

Two major J.C. Penney Co. Inc. executives who left the company in April 2013 did so without receiving severance pay.

Plano, Texas – Two major J.C. Penney Co. Inc. executives who left the company in April 2013 did so without receiving severance pay. According to a regulatory filing from Penney, neither former CEO Ron Johnson nor former chief talent officer Daniel Walker were paid any severance when they left the retailer.

January 3, 2014

On the heels of earlier reports that Macy’s and Martha Stewart Living Omnimedia were able to reach a settlement in their ongoing legal dispute over Martha Stewart sales at J.C. Penney, reports surfaced on Friday that Macy’s and Penney were unable to find their own agreement.

New York City -- On the heels of earlier reports that Macy’s and Martha Stewart Living Omnimedia were able to reach a settlement in their ongoing legal dispute over Martha Stewart sales at J.C. Penney, reports surfaced on Friday that Macy’s and Penney were unable to find their own agreement.

According to multiple sources, talks between Macy’s and Penney fizzled, making it likely that a judge will have to decide the dispute over home goods designed by Martha Stewart.

December 3, 2013

J. C. Penney said that its same-store sales rose 10.1% for the fiscal month ending November 30, 2013.

Plano, Texas  -- J. C. Penney said that its same-store sales rose 10.1% for the fiscal month ending November 30, 2013.  The retailer's stock was up 4.6% to $10.57 percent in after-hours trading Tuesday.

November 4, 2013

In media interviews of late, Beth Newlands Campbell, the new CEO of Food Lion, has been offering reporters a frank assessment of the supermarket chain’s ho-hum, middle-of-the-road situation: “Staying the same,” she explains, “is not an option.”

By Joseph Bona, Joseph@CBX.com

In media interviews of late, Beth Newlands Campbell, the new CEO of Food Lion, has been offering reporters a frank assessment of the supermarket chain’s ho-hum, middle-of-the-road situation: “Staying the same,” she explains, “is not an option.”

October 18, 2013

J.C. Penney joined the list of retail chains that plan to open their stores on Thanksgiving night to kick off the holiday shopping season.

Plano, Texas -- J.C. Penney joined the list of retail chains that plan to open their stores on Thanksgiving night to kick off the holiday shopping season.  

Penney will open most of its 1,100 stores at 8 p.m., the same as Macy's. Last year, Penney opened its stores at 6 a.m. on Black Friday, while rivals Macy’s and Kohl’s opened their doors at midnight.

October 16, 2013

Law firm Wites & Kaplan, P.A. says class-action lawsuits have been filed that allege that JC Penny Company, Inc. and certain of its officers and directors committed violations of the Securities Exchange Act of 1934.

Plano, Texas – Law firm Wites & Kaplan, P.A. says class-action lawsuits have been filed that allege that JC Penny Company, Inc. and certain of its officers and directors committed violations of the Securities Exchange Act of 1934.

October 9, 2013

J.C. Penney Co. announced that departing Saks Inc. CEO and chairman Stephen Sadove has been elected to its board of directors.

Plano, Texas -- J.C. Penney Co. announced that departing Saks Inc. CEO and chairman Stephen Sadove has been elected to its board of directors.

Sadove's  election is effective upon his leaving Saks, which will occur once the acquisition of the upscale department store by Hudson's Bay Company is completed, which is expected by the end of the year.

Sadove is a highly regarded industry veteran. He is the current chairman of the National Retail Federation.

October 3, 2013

J.C. Penney is expanding its baby and kids departments with the launch of several exclusive brands.

Plano, Texas -- J.C. Penney is expanding its baby and kids departments with the launch of several exclusive brands. The launch includes the installation of Disney branded shops, ranging from 800 sq. ft. to 1,100 sq. ft., inside 565 Penney stores on Oct. 4.

The Disney in-store shops will offer toys, collectibles and children's apparel designed exclusively for Penney and showcasing various Disney characters, including ones from Toy Story and Monsters University and Disney Junior shows.

October 1, 2013

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.

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.

September 26, 2013

J.C. Penney 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.

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.

September 26, 2013

J.C. Penney Company Inc. reportedly seeks to raise $750 million to $1 billion in cash 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.

September 3, 2013

Hedge fund manager Richard Perry has upped his already substantial share in J.C. Penney Co.

New York -- Hedge fund manager Richard Perry has upped his already substantial share in J.C. Penney Co. Perry’s Perry Capitol LLC now ranks as Penney's second-largest investor after George Soros.
    
It was disclosed on Friday that Perry bought an additional three million shares of Penney in a secondary offering for $12.90 a share, and that it now owns 8.62% of the company, up from its previous 7.3% stake.
      

August 26, 2013

Hedge fund manager and activist investor William Ackman is selling his entire stake in J.C. Penney.

New York -- Hedge fund manager and activist investor William Ackman is selling his entire stake in J.C. Penney.

Ackman's Pershing Square Capital Management, Penney’s single biggest shareholder with an approximate 18% stake, is offering its roughly 39.1 million shares for sale and used Citigroup as the bookrunner for the deal, Reuters reported. Penney filed a prospectus for the sale.

August 26, 2013

Hedge fund manager and activist investor William Ackman is selling his entire stake in J.C. Penney.

New York -- Hedge fund manager and activist investor William Ackman is selling his entire stake in J.C. Penney.

Ackman's Pershing Square Capital Management, Penney’s single biggest shareholder with an approximate 18% stake, is offering its roughly 39.1 million shares for sale and used Citigroup as the bookrunner for the deal, Reuters reported. Penney filed a prospectus for the sale.

August 20, 2013

J.C. Penney Co. posted a wider-than-expected loss in the second quarter on a nearly 12% drop in revenue. But even though Penney’s results were worse than expected, there were small signs that interim CEO Myron Ullman may be starting to stop the bleeding related to former CEO Ron Johnson’s failed transformation of the chain.

DALLAS — J.C. Penney Co. posted a wider-than-expected loss in the second quarter on a nearly 12% drop in revenue. But even though Penney’s results were worse than expected, there were small signs that interim CEO Myron Ullman may be starting to stop the bleeding related to former CEO Ron Johnson’s failed transformation of the chain.

The quarter was the first entirely under the watch of Ullman, who returned to Penney in April to undo the strategy put in place by Johnson, who planned to transform Penney stores into a series of branded in-store shops.

August 15, 2013

As turmoil continues to surround J.C. Penney, one investor is upping his support of the embattled retailer even as two other large investors leave.

New York -- As turmoil continues to surround J.C. Penney, one investor is upping his support of the embattled retailer even as two other large investors leave. Regulatory filings on Wednesday revealed that billionaire investor George Soros has added two million shares to his current 19.98 million in Penney holdings.

The latest investment makes Soros Fund Management Penney’s second-largest investor, behind disgruntled hedge fund manager Bill Ackman.

August 13, 2013

J.C. Penney Co. announced that activist investor and hedge fund manager Bill Ackman has resigned from the board of directors of the company, effective Aug. 12.