It may seem like summer just got here, but for the nation's largest retailers, the fierce fight for back-to-school (BTS) bucks is already on. J.C. Penney has announced a new marketing campaign aimed at sparking self-expression in teenagers’ wardrobes. Macy's, too, is beating the drum for its apparel, including a fashion link with Teen Vogue. And Sears has just announced its new Seventeen magazine clothing line, rolling out in stores and online.
J.C. Penney says it's laying off 350 more workers at its headquarters in Plano, Tex., as the department store struggles to transform its business under Ron Johnson, a new CEO and former Apple executive. Penney shares soared last winter after Johnson laid out a new pricing strategy; they hit a peak of $43.13 on Feb. 9, but have since lost half their value.
J.C. Penney Co. Inc. cut 350 more workers at its Plano, Tex., headquarters today, marking the third and last installment in this year’s streamlining across the department store chain.