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 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.
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.
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.
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.
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.
Let the Daily Deal buyer beware: Groupon is catching some flak this week after posting a deal on Google's Nexus 7 tablet that used some questionable math, questionable facts, and really didn't offer much of a discount.
The stock market erased most of an early loss in late trading after Republicans said they would reconvene the House of Representatives Sunday in hopes of piecing together a last-minute budget deal. Still the Dow closed down 18 points for its fourth straight loss.
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 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.
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.
J.C. Penney's new shops within stores are doing much better than other parts of its department stores, but it is "way too early to draw conclusions" as the retailer is still rolling out the strategy, Chief Executive Ron Johnson said.
Macy's took its legal battle over its agreement to exclusively sell certain Martha Stewart items directly to J.C. Penney on Thursday, accusing the rival department store chain of interfering with its contract with the home goods designer.
JC Penney has just reported even worse results for the second quarter than it had during its first quarter under new CEO Ron Johnson. Here's what went wrong.
Months ago, JCPenney CEO Ron Johnson and his team decided to take the word "sale" out of the company's lexicon and replace it with "month-long value." It didn't work at all, and now Johnson and his team are backtracking.