J.C. Penney

J.C. Penney Sued Over Marketing of Fiber Products
December 10, 2015 at 10:55 am

U.S. officials on Wednesday sued J.C. Penney, accusing the retailer of deceiving consumers by advertising textile fiber products as containing bamboo and bamboo fiber, when they actually contain rayon. According to a complaint filed by the Department of Justice and Federal Trade Commission, J.C. Penney in "numerous instances" deceptively advertised products such as men's socks,…

Bed Bath & Beyond, Others Settle US False Labeling Charges
December 10, 2015 at 10:23 am

Four U.S. retailers agreed to pay $1.3 million of fines to settle U.S. civil charges that they deceived consumers by falsely labeling and advertising textile products as containing bamboo, when they were actually made from rayon. Bed Bath & Beyond will pay $500,000, Nordstrom will pay $360,000, J.C. Penney will pay $290,000 and outdoor gear…

Store Traffic at Best Buy, J.C. Penney Soars on Black Friday
December 3, 2015 at 11:03 am

In the race for shoppers on Black Friday, electronics chain Best Buy and retailer J.C. Penney won the biggest surge of bargain-hunting shoppers, according to data from Foursquare. On the day after Thanksgiving, which has traditionally kicked off the holiday season, Best Buy enjoyed traffic that was 4.2 times what its stores normally see on…

A Retailer’s Dilemma: Is it Worth Opening on Thanksgiving?
November 20, 2015 at 10:51 am

Americans have a conflicted relationship with holiday shopping. We love a good deal, yet we're mired in massive debt. We give lip service to the importance of spending quality time with our family for the holidays, but when stores open up on Thanksgiving, shoppers dutifully show up — or at the very least snag some deals…

J.C. Penney Settles False Advertising Class-Action Suit
November 11, 2015 at 10:56 am

J.C. Penney said Wednesday that it's reached an agreement to settle a false advertising class-action lawsuit in California, making $50 million available in cash or store credit to customers. While the charge will be included in the third quarter that it’s scheduled to report on Friday, the quarter’s gross margin and earnings results “exceeded expectations,”…

How Failed J.C. Penney CEO Ron Johnson is Redeeming Himself With Enjoy
October 26, 2015 at 11:28 am

Most mornings, Ron Johnson rises just after 4 a.m., without the use of an alarm clock, and sets off on a five-mile run. "My strategy is, if I wake up before 3 a.m., I go back to sleep," he explains to a group of his employees, a dozen men and women in their twenties who…

J.C. Penney Lays Off 300, 9% of its Headquarters Jobs
October 26, 2015 at 11:02 am

J.C. Penney laid off 300 of its 3,400 headquarters employees in Plano, Texas on Thursday. The 9 percent reduction is part of an ongoing effort to cut costs as Penney tries to become profitable again. CEO Marvin Ellison has been saying since he assumed the top job at Penney in August that he's reviewing the organization and…

J.C. Penney CEO Marvin Ellison Focused on Building Customer Loyalty
October 9, 2015 at 10:44 am

Crowds are following Marvin Ellison around these days. The J.C. Penney CEO is spreading the word about what’s next for the department store chain after his predecessor, Mike Ullman, stabilized a company that had been on the brink of disaster. His strategy: focus on fostering customer loyalty.

J.C. Penney Cuts its Pension Obligation With Lump-Sums and Prudential Annuities
October 2, 2015 at 10:41 am

J.C. Penney on Friday said it's cut its $5 billion pension obligation by more than 25 percent completing a lump-sum offer to 12,000 retirees and buying annuities for 43,000 retirees. No changes were made to pension plan benefits to active employees. Penney closed the plan to new hires in 2007. Most large U.S. companies only offer…

J.C. Penney Has a New Chief Merchant
September 24, 2015 at 11:21 am

Every now and then in corporate America, a person gets to mentor her successor and watch him grow into the job. That’s what just happened at J.C. Penney. John Tighe, 46, has been named executive vice president and chief merchant at J.C. Penney, following his mentor, Liz Sweney, into the top merchandising role at the Plano,…