Mike Ullman

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.

J.C. Penney Taps Former CEO Mike Ullman

.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.