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Keyword: jcpenney

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  • J.C. Penney is moving some IT jobs from Plano to India

    07/03/2016 8:35:09 AM PDT · by Trumpinator · 62 replies
    dallasnews.com ^ | Updated: 30 June 2016 07:32 PM | Maria Halkias
    J.C. Penney is opening an IT office in Bangalore, India, as it restructures that critical department which was hurt during the retailer's failed reinvention in 2012 and 2013. The new IT office will have an emphasis on analytics, innovation and reporting capabilities, said Penney spokesman Joey Thomas. With some IT job functions moving to India, some jobs now performed by contract employees in Penney's Plano headquarters will be cut, but Thomas didn't say how many. Penney is hiring full-time IT engineers and analytics professionals for the new office in India and in Plano, he said.
  • Retail Apocalypse: 2016 Brings Empty Shelves And Store Closings All Across America

    02/01/2016 8:58:20 AM PST · by SeekAndFind · 134 replies
    EAD ^ | 02/01/2016 | Michael Snyder
    Major retailers in the United States are shutting down hundreds of stores, and shoppers are reporting alarmingly bare shelves in many retail locations that are still open all over the country. It appears that the retail apocalypse that made so many headlines in 2015 has gone to an entirely new level as we enter 2016. As economic activity slows down and Internet retailers capture more of the market, brick and mortar retailers are cutting their losses. This is especially true in areas that are on the lower portion of the income scale. In impoverished urban centers all over the nation,...
  • J.C. Penney to sell home appliances again after 33 years

    01/21/2016 8:10:52 PM PST · by jeannineinsd · 55 replies
    Fortune ^ | Phil Wahba
    The retailer sees a big opportunity in the appliance business, and in Sears' problems. For the first time in 33 years, the department store will be selling home appliances like refrigerators and washing machines by General Electric, Hotpoint, LG and Samsung, at 22 of its roughly 1,000 stores. If all goes well with the pilot, which begins Feb. 1 in stores in the San Antonio, San Diego and Tampa metro areas, Penney could roll out the home appliance offerings to hundreds more stores by October. The return to home appliances is the first major new initiative by former Home Depot...
  • Ten Brands That Will Disappear in 2014

    05/24/2013 2:34:59 PM PDT · by SeekAndFind · 85 replies
    Wall Street 24X7 ^ | 05/24/2013 | Douglas A. McIntyre
    Each year, 24/7 Wall St. identifies 10 important brands sold in America that we predict will disappear before 2014. This year’s list reflects the brutally competitive nature of certain industries and the importance of not falling behind in efficiency, innovation or financing. The list also reflects how industry trends can accelerate the demise of certain brands. This year, we included two magazines — Martha Stewart Living and Road & Track. With print advertising in a multiyear decline, some magazines have weathered the decline better than others. These two, however, have suffered sharp drops in advertising revenue over the past five...
  • Many JCPenney stores closing

    01/07/2015 7:19:32 PM PST · by iowamark · 91 replies
    1/7/2015
    There are widespread reports today of JCPenney stores to be closing. There has been no announcement of the exact list. There is one report of 40 stores closing soon after 30 some closed in 2014. Oddly, the company just reported sales growth in the holiday period vs. the previous year, generating a number of positive news stories.
  • Retail Apocalypse? Major Chains Closing Hundreds Of Stores

    02/11/2014 10:49:47 AM PST · by Para-Ord.45 · 101 replies
    http://newswatch.us ^ | February 11 2014 | D. Jennings
    Hundreds of stores across the nation are closing as some of Americas most famous retailers struggle to stay in business. The country is facing what CNBC has labeled a tsunami of store closings and blogger Michael Snyder has called a retail apocalypse. JC Penney, which lost $586 million in three months in 2013, is planning to close 33 stores in 19 states and lay off 2,000 people. JC Penneys stock has lost 84 percent of its value since February 2012. Sears has decided to shut down its flagship store in Downtown Chicago, and it has closed 300 stores in the...
  • A 'tsunami' of store closings expected to hit retail

    01/22/2014 1:59:17 PM PST · by EBH · 99 replies
    CNBC ^ | 1/22/2014 | Krystina Gustafson
    Get ready for the next era in retailone that will be characterized by far fewer shops and smaller stores. On Tuesday, Sears said that it will shutter its flagship store in downtown Chicago in April. It's the latest of about 300 store closures in the U.S. that Sears has made since 2010. The news follows announcements earlier this month of multiple store closings from major department stores J.C. Penney and Macy's. Further signs of cuts in the industry came Wednesday, when Target said that it will eliminate 475 jobs worldwide, including some at its Minnesota headquarters, and not fill 700...
  • Heres The List Of JCPenney Stores To Be Closed

    01/16/2014 11:35:39 AM PST · by SMGFan · 76 replies
    Consumerist ^ | January 16, 2014
    Yesterday afternoon, JCPenney announced it would be laying off around 2,500 employees and shuttering 33 underperforming stores around the country. Want to know if your local JCP made the cut?
  • "Had Mitt and I Won, This Would Not Be Necessary"

    01/15/2014 7:21:15 PM PST · by SkyPilot · 383 replies
    Slate ^ | 15 Jan 14 | David Weigel
    The feedback continues, with a bunch of military veterans and family members asking me how I could defend the callous COLA cuts to military pensions by way of explaining why Congress is trying to undo them. Another reader email: I strenuously object to being asked to sacrifice any more! I risked my life in two deployments to war zones, sacrificed my health (I'm also a disabled veteran), and jeopardized my relationship with my family for my country. I find Congress' latest demand a kick in the gut. We veterans and retirees have sacrificed enough without having to endure the...
  • J.C. Penney cutting 2,000 jobs, closing 33 stores

    01/15/2014 2:54:54 PM PST · by Zakeet · 85 replies
    CNN ^ | January 15, 2014
    The bad news continues at J.C. Penney. The ailing retailer announced Wednesday that it was cutting 2,000 jobs and closing 33 "underperforming" stores in an effort to rein in expenses. The store closings -- listed here -- are likely to be complete by early May. J.C. Penney said it expected the moves to generate $65 million in annual cost savings.
  • JCPENNEY TO CUT 2,000 JOBS, CLOSE 33 STORES

    01/15/2014 1:52:48 PM PST · by Red in Blue PA · 94 replies
    JCPenney is cutting 2,000 jobs and closing 33 stores as the battered department store seeks to revive revenue growth, the company announced Wednesday. The move will save about $65 million annually beginning in 2014, the company said. JCPenney, which has about 1,100 stores, has struggled to turn a profit since former CEO Ron Johnson was fired in April.
  • Retailers brace for a tough holiday season

    11/11/2013 7:57:32 PM PST · by SunkenCiv · 60 replies
    CNN Money ^ | Monday, Veteran's Day, November 11, 2013 | Hibah Yousuf
    Sales growth during the fourth quarter is shaping up to be the weakest since 2008, according to predictions from Morgan Stanley. Same-store sales, a key metric that measures sales at store locations open at least a year, are expected to grow a mere 1.6% from a year ago during the fourth quarter, Morgan Stanley estimates. Last year's holiday sales were up 3.5% from the fourth quarter of 2011. The 1.6% figure excludes sales at troubled J.C. Penney (JCP, Fortune 500). That's because J.C. Penney is expected to offer deep discounts to try and get back on track after a disastrous...
  • Is the end near for J.C. Penney?

    09/27/2013 8:48:31 AM PDT · by SoFloFreeper · 90 replies
    WTVR-TV ^ | 9/25/13
    J.C. Penneys stock hit a 13-year low Wednesday as investors grow increasingly concerned about the future of the 112 year old iconic American retailer. Shares plunged more than 15% at one point and briefly dipped below $10 a share a level they have not touched since November 2000. Several analysts are predicting that J.C. Penney did not have a good back to school shopping season, and that sales continued to plummet in late August and early September. Investors had already been spooked by reports that J.C. Penney might be seeking to raise more cash through the sale of new...
  • Ackman Moves to Dump Entire Stake in J.C. Penney

    08/27/2013 7:20:04 AM PDT · by Rodamala · 24 replies
    The Wall Street Journal ^ | August 26, 2013 | Emily Glazer, Matt Jaremsky and Suzanna Kapner
    Citigroup Agrees to Sell Hedge Fund's Shares to New Buyers at $12.90 Each.Hedge-fund manager Bill Ackman moved to dump his entire stake in J.C. Penney Co., ending a failed bet on the retailer that cost his fund more than $600 million, resulted in the loss of thousands of jobs and left the 1,100-store chain still struggling to right itself.
  • Does JCPenney's Back-to-School Ad Really Promote Bullying?

    08/15/2013 9:29:31 AM PDT · by rightwingintelligentsia · 56 replies
    Yahoo! Shine ^ | August 14, 2013
    A JCPenney back-to-school ad that implies kids will be friendless unless they wear the right clothing is promoting bullying, charged a flurry of critics on social media this week. Your ad about cool kids wearing JCPenney clothes, showing a child sitting alone at lunch is despicable, fired off one Facebook user. Another added, How clueless are you? What a horrible bully-promoting commercial. Twitter users have called it tone deaf and more self-immolation for the company. The ad, posted online by the retailer in late July and aired as part of a TV campaign earlier this summer, includes a shot of...
  • JCPenney Default Risk Hits All-Time High

    08/05/2013 11:01:17 AM PDT · by Perdogg · 59 replies
    It would appear that in the order of who knows what when, in the case of JCPenney, it is C-level executives first, credit markets second (was Goldman's line a pre-DIP?), and equity shareholders (Ackamn included) last. With the torrent of executve departures in the last year, credit market investors led the equity over the past two weeks as credit lines were (allegedly) pulled. Today's 50bps rise in JCP's 5Y CDS pushes the company's risk of bankruptcy to its highest ever (arguably higher than 65% over the next few years given the secured assets). JCP's stock is down 2% on the...
  • 160 million credit cards later, 'cutting edge' hacking ring cracked

    07/25/2013 1:59:48 PM PDT · by Jim Robinson · 24 replies
    NBC News ^ | By Bob Sullivan
    For nearly a decade, a band of cybercriminals rampaged through the servers of a global business who's who: Among the victims were 7-Eleven, Dow Jones, Nasdaq, JetBlue and JC Penney. Prosecutors say the hackers stole "conservatively" 160 million credit card numbers, and the dollar value of the crimes they helped facilitate is enormous just four of the victims are out $300 million. The suffering caused to identity theft victims was "immeasurable," say prosecutors. On Thursday, five of the gang's members were indicted. One is in custody in the U.S., a second is awaiting extradition in the Netherlands, and three...
  • Is This the Future of J.C. Penney?

    06/17/2013 7:45:49 AM PDT · by Carbonsteel · 54 replies
    The Motley Fool ^ | 06/17/2013 | Kaitlyn Tokay
    The apology from J.C. Penney's (NYSE: JCP) in the "We're Listening" campaign seems to be working, at least for now. Customers have been returning to stores in the wake of J.C. Penney re-opening celebrations. During the tenure of a rough year riddled with mistakes and hard-learned lessons, J.C. Penney found that the soul of their customer was driven by super low sale prices and an enthusiasm for home and back to school shopping.
  • Another massive loss for J.C. Penney

    05/19/2013 1:15:55 AM PDT · by South40 · 79 replies
    Money.CNN.Com ^ | May 17, 2013 | James O'Toole
    There's one great thing about J.C. Penney's last quarter: It's over. The struggling retailer lost a whopping $289 million for the three months ended on May 4, with sales plunging 16.4% versus a year prior.
  • J.C. Penney Warns of Steeper Sales Decline

    05/07/2013 4:13:39 PM PDT · by South40 · 51 replies
    WSJ.ocm ^ | 5/7/2013 | MIA LAMAR And KAREN TALLEY
    J.C. Penney Co. (JCP -3.07%) forecast a sharper-than-expected decline in fiscal first-quarter sales, citing the effect of former Chief Executive Ron Johnson's strategies to turn around the struggling department-store operator. For the quarter ended Saturday, the company said it expects to post sales of roughly $2.64 billion, a 16% drop from the prior year. Analysts polled by Thomson Reuters expect sales of $2.74 billion, or a 13% decline. Same-store sales were estimated to be down 16.6%, after falling 18.9% a year earlier.