J.C. Penney

Sycamore Partners Plans to Buy J.C. Penney for $1.75B
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,…

J.C. Penney Files for Bankruptcy Protection
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…

J.C. Penney Execs Taking $10M From Faltering Company
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…

J.C. Penney Takes Sephora to Court Over Reopening Stores
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…

J.C. Penney Revamps Women’s Clothing Brand to Help Boost Sales
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…

Findings, Trends From the 2019 Top 100 Omnichannel Retailers Report
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…

J.C. Penney to Close More Stores Amidst Slowing Sales
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…

J.C. Penney to Launch 650 Fanatics In-Store Shops
June 11, 2018 at 3:09 pm

J.C. Penney announced last week that it has launched Fanatics shops inside 325 of its stores, with plans to introduce another 325 additional Fanatics destinations by the back-to-school season. Since 2014, sports apparel brand Fanatics has sold its merchandise online at jcpenney.com. Like the online store, the shops-in-shops will house Fanatics shops with local collegiate…

Report: Foot Locker to Shutter More Than 100 Stores
March 5, 2018 at 1:08 pm

Foot Locker is the latest retailer to reduce its store count in an effort to cut costs, according to a March 2 Business Insider report. More specifically, the retailer plans to close approximately 110 stores this year, mostly those that are considered underperforming locations. This latest round of store closures augments the 147 stores that Foot Locker closed…

J.C. Penney Announces it Will Close 8 Stores in 2018
February 16, 2018 at 11:14 am

J.C. Penney is anticipating closing eight of its department stores across the U.S. this year, a spokesman told CNBC. The move is part of the company's ongoing plan to right-size its store fleet as more sales move online. J.C. Penney operates roughly 875 department stores today. That's after the retailer shuttered nearly 140 stores throughout 2017.…