JCP Picked the Wrong Therapist to Hire After CEO's Ouster
After firing Ron Johnson, J.C. Penney brought in a therapist to soothe stressed-out employees. But, just like the ex-CEO's efforts to help, that move only made matters worse.
Ron Johnson
5 Winners and Losers of the Week in Business
From a soda company's refashioned refrigerators to an apparel CEO's tactless comments, here's a rundown of this week's best moves and worst blunders in the business world.
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's New Logo Is Its Fourth in Four Years
J.C. Penney has quietly introduced yet another new logo, just one more change amid the ongoing metamorphosis and backtracking at the troubled retailer.
J.C. Penney is Done Apologizing; Now, It Wants to Thank You
Just weeks after launching an ad campaign apologizing for alienating its customers, J.C. Penney has stopped running its big apology commercial and pulled it from the Internet.
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.
JCP Says 'We're Listening.' Here's Who They Should Listen To
As part of its apology tour, J.C. Penney insists that it's listening to customer feedback. Here are a few customers who have smart advice for the struggling retailer.
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.
News of George Soros Investment Lifts J.C. Penney Shares
Shares of beleaguered retailer J.C. Penney rose more than 6% in aftermarket trading on Thursday after billionaire financier George Soros disclosed a 7.9% stake in the company.
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.
Out With the New, In With the Old at J.C. Penney
With the departure of J.C. Penney style guru Nick Wooster and the return of his predecessor, it's likely the old "basics" will also return to shelves.
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.
J.C. Penney Investors Worry Johnson's Exit Means New Makeover
J.C. Penney’s controversial CEO Ron Johnson has been ousted after less than two years on the job. The company’s revenue fell sharply last year as Johnson implemented his plan.
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.
Zynga Moves Into Gaming With Real Money
Zynga has rolled out its first real money casino games, but only in the UK. The company has also taken steps to provide internet gambling in Nevada, if U.S. laws are changed.
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.
5 Winners and Losers of the Week in Business
From a happy homebuilder to an embarrassed yoga gear retailer, here's a rundown of this week's big wins and toughest misses in the business world.
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.
The Big Companies Paying the Most in Taxes -- and the Least
The federal corporate tax rate is 35% but that's not what most big companies pay, and the disparities can be huge: Some pay billions, while others pay nothing.
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.
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.
5 Winners and Losers of the Week in Business
From Pandora, which is trying to encourage more of its music streamers to pay, to Monster, which is trying to win back a good rep for its an energy drink, here's a rundown of this week's big winners and losers in the business world.
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.
The 8 Retailers That Will Close the Most Stores in 2013
After years in an unsteady economic climate, being battered by e-commerce on one hand and more effective bricks-and-mortar competitors on the other, these eight chains need the relief that shrinking can provide. And this year, that's exactly what they'll get.
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.