J.C. Penney
October 27, 2021 at 5:05 pm
JCPenney has named former Levi Strauss & Co. executive Marc Rosen as CEO, nine months after the retailer's former chief executive, Jill Soltau, left the company. Rosen, who also spent 14 years in senior leadership roles at Walmart, will begin at JCPenney on Nov. 1. Stanley Shashoua, chief investment officer at JCPenney, had been serving…
May 6, 2021 at 7:41 pm
J.C. Penney's new owners, Simon Property Group and Brookfield Asset Management, announced last week that they have cut the corporate staff of more than 3,500 by about 100 people. In addition, field operation was cut by 550 people. When J.C. Penney filed for bankruptcy protection in May 2020, there were about 84,000 associates employed y the…
January 4, 2021 at 5:21 pm
J.C. Penney’s new owners, Simon Property Group and Brookfield Asset Management, along with strategic partner Authentic Brands Group, announced they have launched a search for a CEO to replace Jill Soltau, who left the company on Dec. 31, 2020, less than a month after the company exited Chapter 11. It’s unclear whether Soltau, who has been…
July 29, 2020 at 3:31 pm
Sycamore Partners, the private equity firm that recently backed out of a deal to buy Victoria’s Secret, has a good chance of winning an auction to buy the department store chain J.C. Penney out of bankruptcy, MarketWatch reported. The New York-based firm bid $1.75 billion for the department store chain. If it wins the auction,…
May 17, 2020 at 4:48 pm
J.C. Penney filed for bankruptcy protection on Friday with plans to permanently close some stores and also explore a possible sale. The department store chain, known for selling family apparel, cosmetics and jewelry at 850 locations, said it reached an agreement with existing lenders for $900 million of debtor-in-possession financing to aid operations while it navigates…
May 14, 2020 at 7:04 pm
J.C. Penney is reportedly days away from filing bankruptcy and scrambling to get enough financing to allow it to continue to operate under chapter 11 proceedings. It has laid off or furloughed more than 80,000 of its employees and missed payments on two debt payment deadlines. It may also be withholding rent payments at some…
May 5, 2020 at 7:38 pm
J.C. Penney has filed a temporary restraining order against Sephora, asking a judge to stop the makeup seller from leaving the retailer’s stores, reports CNBC. The ailing department store chain is trying to avoid a major blow to its recovery prospects from the coronavirus pandemic while in the process of reopening stores. According to Dallas Morning…
February 6, 2020 at 12:17 pm
J.C. Penney is relaunching one of its biggest in-house women’s apparel brands as part of its strategy to help boost sales and remain relevant, CNBC reported. The department stores's Ana brand has new products in stores and online, and the full assortment will be available by March. The brand will offer extended sizes and will have items…
April 26, 2019 at 12:57 pm
In this week's Retail Right Now, Joe Keenan and Kristina Stidham discuss Total Retail's 2019 Top 100 Omnichannel Retailers report. They discuss key findings to emerge from the report, as well as identify the omnichannel trends gathered from the data. This report is the third annual ranking of 100 publicly traded retailers based on their…
January 10, 2019 at 2:53 pm
J. C. Penney announced on Tuesday that it plans to close three stores by the spring as part of an ongoing evaluation of its performance. The retailer didn't report which stores it planned to close, but said it's currently assessing locations that "may not meet required financial targets or represent a market opportunity to capitalize…
