J.C. Penney

Target Expands Plans for Remodels, Restock; Opens New Stores
October 20, 2017 at 12:40 pm

Target Corp. said this week that it would remodel more than 1,000 stores by the end of 2020, as well as expand its Target Restock program and open new stores. As for the remodels, Target said it will combine “the best of our digital and technology upgrades, elevated merchandise presentations and fulfillment services to make…

J.C. Penney Teams With ‘Project Runway’ for Merchandise, TV Exposure
August 2, 2017 at 12:04 pm

J.C. Penney has announced a new partnership with "Project Runway" that lands the department store retailer as a fixture on the design-competition reality show. J.C. Penney will be the exclusive retailer for “Project Runway” for seasons 16 and 17, as well as “Project Runway All Stars” for season seven. The retailer will sponsor a design challenge…

J.C. Penney Taps Former Wal-Mart Exec as CFO
July 26, 2017 at 12:41 pm

J.C. Penney has named a new chief financial officer two weeks after its previous executive’s departure. Jeffrey Davis takes J.C. Penney’s executive vice president and CFO role effective immediately, the company announced Monday. He replaces Andrew Drexler, who served in the role on an interim basis following former…

J.C. Penney Targets Hospitality Industry for New Revenue
May 22, 2017 at 12:20 pm

Struggling department store chain J.C. Penney is taking aim at a potential new set of customers: other businesses. J.C. Penney, which last week reported a dismal first quarter and whose shares are trading near all-time lows, said on Thursday it planned to leverage its new home services business to try to win more sales from…

J.C. Penney's Turnaround Hits Stumbling Block With Q1 Sales Miss
May 15, 2017 at 9:47 am

J.C. Penney's stock price closed at a historic low on Friday after it missed its first quarter forecast and said customer traffic was below a year ago. While the department store chain said it can still pull off recently lowered full-year targets for flat sales and improvements in margins, investors pummeled the stock. Penney's stock price closed below $5 a…

Retail Tops Job Losses Report
May 8, 2017 at 12:28 pm

The retail industry announced 11,669 job cuts in April, the highest total among all industries, bringing the year-to-date total to 50,133. That's up 36 percent from the 36,977 retail sector job cuts announced in the first four months of 2016. The retailers responsible for the most job cuts this year include Macy's (10,000), J.C. Penney…

J.C. Penney Expands Sephora Partnership, Adds Jobs
April 26, 2017 at 1:01 pm

J.C. Penney will launch Sephora beauty shops in 70 stores as it expands 32 existing locations, bringing Sephora to 650 of its 1,000-plus stores by the end of 2017. The beauty push comes as J.C. Penney de-emphasizes apparel, a weak link for merchants these days, save for off-price chains and Amazon.com, which have been gobbling up…

J.C. Penney Expanding Into Home Services
March 10, 2017 at 12:17 pm

J.C. Penney is going to expand its home services by testing six new programs in 100 stores. Starting later this month, shoppers will see signs in J.C. Penney home departments and on its digital storefront for services in bathroom remodeling, home heating and cooling systems, quick-ship and installed blinds, whole home water solutions, awnings, and smart…

J.C. Penney to Close Up to 140 Stores, Offer Buyouts
February 24, 2017 at 11:46 am

J.C. Penney plans to close 130 to 140 stores and offer buyouts to 6,000 workers as the department store industry sags in competition with online sellers and nimble niche retailers. The company said Friday that it would shutter 13 percent to 14 percent of its locations and introduce new goods and services aimed at the shifting…

Los Angeles Prosecutors Sue 4 Retailers for Deceptive Advertising
December 12, 2016 at 10:03 am

The Los Angeles city attorney’s office has sued four retailers, alleging deceptive advertising that it says misled shoppers into believing that thousands of products were on sale at a hefty discount. The retailers — J.C. Penney, Sears, Kohl’s and Macy’s — falsely advertised high “list” or “regular” prices on merchandise that was never actually for sale at that…