J.C. Penney
March 17, 2016 at 10:28 am
J.C. Penney CEO Marvin Ellison started day three of its annual store managers meeting on Wednesday talking about BS (business simplification). Just in case Penney store managers had any doubts about what they heard the day before, there was a bright red BS stamp covering old rules and titles of cumbersome reports on a screen behind…
March 7, 2016 at 9:46 am
J.C. Penney’s online sales are booming. Many of its stores are in struggling malls. And sales per square foot are about one-third below levels of five years ago. Yet despite all that, the resurgent department store’s new CEO, Marvin Ellison, is adamant that J.C. Penney won’t undertake any wholesale closings of stores in its 1,020-location fleet. Penney…
February 29, 2016 at 10:17 am
J.C. Penney Co. Inc. has made its private labels a key part of its strategy to capture market share and continue to improve its results. J.C. Penney shares are up 15.4 percent in Friday trading in the wake of its fourth-quarter earnings release on Thursday and management commentary on the higher-margin private label approach.
February 25, 2016 at 10:31 am
J.C. Penney is borrowing ideas from supermarkets and warehouse clubs as it launches its new marketing campaign. Penney means that literally. The company plans to sell some of its best basics for a penny, starting with items from its $1 billion Arizona brand. Some promotions will be buy one, get one for a penny, and…
February 11, 2016 at 10:51 am
Following the successful pilot last autumn of a new private label fast-fashion brand targeting millennials, J.C. Penney now plans to roll out the Belle + Sky line across 500 stores from the end of this week.
February 10, 2016 at 12:11 pm
Burberry Group Plc, the British luxury fashion brand, sued J. C. Penney Co on Tuesday, accusing the U.S. retailer of trademark infringement for selling outerwear that featured exact copies of its famous "Burberry check" pattern. In a complaint filed in U.S. district court in Manhattan, Burberry accused J.C. Penney of illegally selling "quilted jackets" with the…
February 5, 2016 at 11:31 am
J.C. Penney is pursuing a possible sale and partial leaseback of its headquarters building in Plano, Texas as part of an ongoing effort to reduce debt and manage expenses. CBRE Capital Markets is representing Penney. New owners will also own part of the huge Legacy West project under construction next door that will include the…
January 20, 2016 at 10:47 am
J.C. Penney is targeting millennials who are entering the real estate market with the relaunch of its appliance business. The retailer announced Tuesday that it will introduce laundry and kitchen appliances to 22 pilot stores in San Diego, Tampa and San Antonio starting Feb. 1. The move is one of several the company is planning to…
January 19, 2016 at 10:28 am
Joe McFarland has been hired to be executive vice president over all of J.C. Penney’s 1,000 stores, the Plano, Texas-based retailer said Monday. McFarland’s appointment is effective immediately, the company said, and he succeeds Tony Bartlett, who had been with Penney since 2006, the last three years over stores. The addition of McFarland means Penney CEO Marvin…
January 13, 2016 at 10:58 am
Macy's rival at the other end of the mall wants to get a little smaller this year, too. J.C. Penney, which has roughly 1,060 stores in the U.S., will shutter seven locations in 2016 in a bid to more efficiently operate in an era of digital commerce and dense urban areas. According to the company, all…
