J.C. Penney Posts Huge 1Q Loss
J.C. Penney reports a first-quarter big loss on a 16 percent revenue plunge as the chain continues to reel from the turnaround plan implemented by former CEO Ron Johnson.
JCPenney
Macy's Quarterly Profit Rises Along with Same-Store Sales
Macy's reported higher first-quarter profit and sales despite cool weather in much of the country that delayed spring shopping for many customers.
5 Stocks to Watch this Week
From state-of-the art technology to good ole fashioned retailing, there's plenty of news waiting to break this week on Wall Street. Here's what to watch.
J.C. Penney Apologizes for 'Mistakes' in New Ad
J.C. Penney is trying to win back its wayward customers by acknowledging in a new ad that it's learning from its mistakes.
Goldman Loan Lends a Boost to Penney's Flagging Finances
J.C. Penney confirmed Monday that Goldman Sachs will provide it with $1.75 billion in financing, confirming rumors that first surfaced Friday.
Can Returning CEO Mike Ullman Revive Penney's Fortunes?
The return of the old guard at J.C. Penney have sent shares higher this week, even with major U.S. indexes suffering one of the worst downturns this year.
Macy's Denied Restraining Order Against J.C. Penney
A judge has rejected Macy's request to slap rival J.C. Penney with a temporary restraining order barring it from selling non-branded goods designed by Martha Stewart.
5 Winners and Losers of the Week in Business
From sluggish PC sales to Facebook regaining an important advertiser to a department store chain finally ousting its inept CEO, here are the wonders and blunders of the week.
Macy's, J.C. Penney Resume Court Battle Over Martha Stewart
Attorneys for J.C Penney and Macy's were back in court Monday to fight over the Martha Stewart brand after a monthlong mediation period went nowhere.
J.C. Penney Taps Former CEO Mike Ullman
J.C. Penney pins its hopes on former CEO Mike Ullman to revive the retailer after a risky turnaround strategy backfired and led to massive losses and steep sales declines.
J.C. Penney CEO Ron Johnson's Pay Fell 97% in 2012
The CEO of struggling department store J.C. Penney saw his 2012 compensation package plummet nearly 97 percent to about $1.9 million, according to a federal filing.
Walmart Can't Keep Its Shelves Stocked
Walmart is reportedly losing customers because it doesn't have enough employees to keep the shelves stocked. Defecting customers are heading to Target, Costco and other retailers.
J.C. Penney Backpedals Again to Lure Back Lost Customers
In a major about-face, J.C. Penney is making a bid to win back some of its former customers by reintroducing brands it recently eliminated, including favorite St. John's Bay.
2 State Pension Funds Want More JC Penney Details from Ackman
Two institutional investors with William Ackman's $12 billion hedge fund plan to reach out to the manager to get more information about the firm's big bet on ailing retailer JC Penney, whose stock has dropped 21 percent this year.
Why J.C. Penney is Really Losing Customers (It's Not the Coupons)
While J.C. Penney's disastrous decline has been blamed on Ron Johnson no-coupons pricing strategy, our readers gave a different reason for ditching the retailer.
Martha Stewart Denies Wrongdoing in J.C. Penney Deal
Martha Stewart testified in court on Tuesday that she did nothing wrong when she signed an agreement to open up shops within most of J.C. Penney's stores across the country, despite a preexisting contract to sell some items exclusively at Macy's.
J.C. Penney's Stock Heading for Everyday Low Prices
J.C. Penney stock tumbled last week, fell again yesterday, and is set to slide some more today. A big investor, Vornado Realty Trust, reportedly sold 10 million shares of the retailer on Monday, almost half of its stake.
Why J.C. Penney Was Smart to Hire the Man Behind New Coke
As if J.C. Penney wasn't being subjected to enough mockery this week after its horrible fourth-quarter earnings report, now it's getting grief for hiring the man behind "New Coke." But in this case, the naysayers should take a step back.
Midday Report: Stocks Turn Mixed After 2 Days of Big Gains
A rally is losing steam on Wall Street as indexes inch higher following two days of triple-digit gains.The Dow Jones industrial average was up 16 points at 14,091 at midday. It's just 73 points below the record high it reached in October 2007.
J.C. Penney Has Another Train Wreck of a Quarter
Stop us if you've heard this one before: J.C. Penney had another dismal quarter. But Ron Johnson is optimistic, despite same-store sales that fell 31.7% in the fourth quarter, and nearly a billion dollars in losses in Johnson's first full year at the retailer's helm.
JC Penney's Oscars Ad Makes Bold Claim
JC Penney kicked off a new ad campaign during last night's Oscars broadcast. The spots make a bold and, given the company's recent performance, some would say unlikely claim: That JC Penney will still be going strong 100 years from now.
Macy's CEO to Testify in Fight with J.C. Penney Over Martha Stewart
Macy's Chairman, President and CEO Terry Lundgren is scheduled to testify in New York State Supreme Court on Monday in a trial that pits the department store chain against rival J.C. Penney over a partnership with home diva Martha Stewart.
Market Minute: J.C. Penney Brings Back Sales
The struggling department store chain this week will begin adding back some of the hundreds of sales it ditched last year in hopes of luring shoppers who were turned off when the discounts disappeared, says J.C. Penney CEO Ron Johnson.
JCP Denies Tricking Customers With Phony 'Suggested' Prices
The heart of CEO Ron Johnson's makeover of J.C. Penney has been "fair and square pricing": eschewing discounts, coupons and sales in favor of everyday low prices. But now there are allegations that all is not so fair and square on those JCP price tags.
Endangered Executives 2013: Whose Jobs Will Survive the Year?
CEOs of struggling companies managed to avoid the axe and will head into 2013 with their jobs intact... for now. We decided to take stock of a few of these endangered executives to assess which ones will get through 2013 in one piece.
JC Penney Replacing Cash Registers With Coffee and Juice Bars
JCPenney can offer shoppers something no online retailer can: food and drinks to enjoy while they spend money. CEO Ron Johnson said the retailer was planning on replacing traditional cash registers with coffee and juice bars.
J.C. Penney Stock Loses 13%, Drops to Lowest Price Since March 2009
J.C. Penney executives may be confident in the department-store chain's everyday low pricing strategy, but its investors are panicking: The company's stock fell more than 13 percent on Monday, closing at its lowest price since March 2009 when the United States was in a recession.
JCPenney Took Some Giant Steps Back; Now Customers Are Confused
When Ron Johnson took over as CEO of JCPenney in January, his mantra was "no more coupons." But since the retailer switched to a model of everyday low prices without constant promotions, comparable-store sales have fallen 20 percent, and JCPenney has started to backtrack.
Women Are Fleeing Coupon-Free J.C. Penney, New Poll Reveals
J.C. Penney lost more than 1.3 million of its loyal female fans in the last year, a new survey reveals, and the experts say its "fair and square" pricing strategy is probably to blame.
What JCP's CEO Has to Say About Falling Sales and Rising Cynics
Nearly a year after taking over as CEO of J.C. Penney, Ron Johnson seems all too aware that his image as a retailing miracle worker has been seriously tarnished. But he's not worried about the backward thinking naysayers -- and he's still determined to prove the skeptics wrong.