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Keyword: jcpenny

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  • So, got this on JC Penny’s WiFi today...

    10/14/2018 12:24:37 PM PDT · by Magnatron · 39 replies
    My withered brain | 14 October 2018 | Me
    Was at a mall today, bored and waiting for my wife to stop spending my money. So I tried to go onto Free Republic to pass the time. I didn’t know I was on JC Penny’s WiFi (I was not in the store). Can’t quite figure out what word has been banned... Free? Republic? No wonder they’re going out of business.
  • J.C. Penny announces more store closings

    02/24/2017 8:00:41 AM PST · by Morgana · 32 replies
    one news now ^ | Feb. 24, 2017 | ap
    NEW YORK (February 24, 2017) — J.C. Penney said Friday that it will be closing anywhere from 130 to 140 stores as well as two distribution centers over the next several months as it aims to improve profitability in the era of online shopping. The closures represent about 13 percent to 14 percent of the department store operator's current store count, and less than 5 percent of total annual sales. The company said that it would also initiate a voluntary early retirement program for about 6,000 eligible employees. The news came as the Plano, Texas-based chain posted a profit in...
  • J.C. Penney to close 13 to 14 percent of stores

    02/24/2017 5:52:27 AM PST · by oh8eleven · 44 replies
    AP via Star Tribune ^ | 24 February 2017 | ANNE D'INNOCENZIO
    NEW YORK — J.C. Penney said Friday that it will be closing anywhere from 130 to 140 stores as well as two distribution centers over the next several months as it aims to improve profitability in the era of online shopping. The closures represent about 13 percent to 14 percent of the department store operator's current store count, and less than 5 percent of total annual sales. The company said that it would also initiate a voluntary early retirement program for about 6,000 eligible employees.
  • JCPenney takes emergency measures to protect bottom line

    05/06/2016 7:20:44 AM PDT · by DCBryan1 · 44 replies
    NY POST ^ | 05 MAY 16 | By Lisa Fickenscher
    JCPenney, faced with unexpected light sales in mid-April, slashed payroll, froze overtime and took other drastic cost-cutting steps in an attempt to protect its bottom line, The Post has learned. As the end of its first fiscal quarter approached, the mid-priced department store told store managers to take the emergency measures because the chain faced “an expense challenge,” according to an internal memo obtained by The Post. “We have an expense challenge for the month of April and are asking all stores to do their fair share by closely monitoring all expenses,” the memo said. Employees were stunned when their...
  • CALL7 Investigators find jcpenney raises prices to create illusion of markdowns throughout store

    09/26/2013 3:52:21 PM PDT · by catnipman · 37 replies
    Channel 7 News Denver ^ | 9/25/13 | Keli Rabon
    DENVER - A CALL7 hidden-camera investigation finds the discounts at one major national retailer may not be as significant as shoppers would think, after finding prices on tags were marked up so the item can then be placed on "sale." ...
  • Activist investor William Ackman resigns from J.C. Penney's board

    08/13/2013 5:03:47 AM PDT · by xzins · 20 replies
    NY Post ^ | August 13, 2013
    William Ackman has resigned from J.C. Penney Co.'s board as part of a deal to resolve an unusually public battle between the activist investor and the struggling department store operator. J.C. Penney's rose in premarket trading Tuesday. The announcement follows statements Ackman made last week saying he'd lost confidence in Penney's board and that its Chairman Thomas Engibous should be replaced. Ackman and the retailer's board also were bickering over how quickly the company should replace CEO Mike Ullman. Ackman's investment firm, Pershing Square Capital Management, has a nearly 18 percent stake in Penney. Penney's board also made it clear...
  • J.C. Penney places huge billboard .... for kettle 'that looks just like Hitler'

    05/28/2013 4:56:06 AM PDT · by Morgana · 64 replies
    mail online ^ | Suzannah Hills
    FULL TITLE: World war brew: J.C. Penney places huge billboard advert over Interstate Highway for kettle 'that looks just like Hitler' Retailer J.C. Penney may want to rethink the design of their new kettle after a string of customers complained it looks remarkably like Hitler. The retailer advertised the new kettle - which is exclusively available in its stores - on a huge billboard over the 405 Interstate Highway in southern California. But rather than being tempted into buying new kitchen equipment, commuters driving along the route near Culver City found themselves instantly reminded of the Nazi leader Adolf Hitler....
  • Disguised as teapot, Adolf Hitler sneaks onto J.C. Penney billboard

    05/25/2013 5:12:46 AM PDT · by Perdogg · 53 replies
    We don’t know how, but Adolf Hitler somehow managed to sneak past a photographer, several advertising executives and J.C. Penney’s marketing department and make it onto a billboard. Disguising himself as a teapot might have had something to do with it, but once you’ve seen him, it’s impossible not to see.
  • J.C. Penney surges 12% on George Soros stake

    04/26/2013 4:49:36 PM PDT · by BenLurkin · 21 replies
    CNNMoneyInvest ^ | April 26, 2013: 5:11 PM ET | James O'Toole
    J.C. Penney (JCP, Fortune 500) shares finished up 11.6% Friday following news late Thursday that hedge fund mogul George Soros has taken a large stake in the retailer, and a report from CNBC Friday afternoon that Goldman Sachs has secured $1.75 billion in financing for the company. Earlier this month, the troubled retailer announced that CEO Ron Johnson was leaving after just a year and a half. Johnson, a former Apple (AAPL, Fortune 500) executive, had instituted ambitious changes at J.C. Penney stores in an attempt to remake the brand. Sales plummeted during his tenure, sinking 28% in the fourth...
  • J.C. Penney fires CEO after plummeting sales following gay ad campaign

    04/11/2013 2:01:23 PM PDT · by Morgana · 82 replies
    Life News ^ | Family Research Center
    April 11, 2013 (Family Research Council) - Plenty of companies have argued that natural marriage is "bad for business"--but they'll have a tough time persuading J.C. Penney. After a series of radical decisions, the retailer is struggling to survive a 25 percent drop in sales. It started in 2011 when the company hired Ellen DeGeneres, a vocal proponent of same-sex "marriage" as its spokesperson. The choice drew fire from organizations like the American Family Association (AFA) because it was a departure from the store's longstanding values. When AFA's One Million Moms complained, J.C. Penney's new CEO, Ron Johnson, stubbornly dug...
  • J.C. Penney jumps after CEO (Ron Johnson) said to be out

    04/08/2013 2:09:12 PM PDT · by abb · 79 replies
    Marketwatch ^ | April 8, 2013 | Staff
    J.C. Penney Co. shares jumped 11% in after hours on Monday as CNBC, citing an unidentified source, said Chief Executive Ron Johnson is no longer head of the company.
  • Penney CEO gets no bonus, stock award after dismal year

    04/03/2013 6:01:17 AM PDT · by Zakeet · 13 replies
    Reuters ^ | April 2, 2013 | Phil Wahba
    J.C. Penney Co Inc Chief Executive Ron Johnson received total compensation of $1.9 million in 2012, according to a regulatory filing on Tuesday, a sharp decline after a year that saw the department store chain's sales fall perilously. [Snip] Johnson's base salary was unchanged at $1.5 million, but he received no bonus or stock award in 2012 because of Penney's results, Penney said in its filing. He was eligible in 2012 for a bonus of $1.875 million.
  • JCPenney filing reveals a surprising 43,000 job cuts

    03/21/2013 10:24:05 AM PDT · by jimbo123 · 87 replies
    NY Post ^ | 3/21/13 | JAMES COVERT
    However you’re counting the numbers, they hurt. JCPenney revealed in a regulatory filing yesterday that it finished its fiscal year ended Feb. 2 with 116,000 employees — a whopping 43,000 less than a year earlier. That’s a slashing of 27 percent — even steeper than the company’s disastrous revenue decline of 24.8 percent for the same period. It’s also more than twice the figure of 19,000 job cuts that Chief Executive Ron Johnson testified to under oath earlier this month, when asked during the company’s trial with Macy’s and Martha Stewart how many Penney employees had lost their jobs on...
  • Ritz crackpot - CEO stays in luxe hotel while (JC) Penney flounders

    02/11/2013 8:05:55 AM PST · by abb · 14 replies
    New York Post ^ | February 11, 2013 | James Covert
    JCPenney CEO Ron Johnson is mounting a radical overhaul of the flailing department-store chain — but that doesn’t mean he’s stuck at the office on nights and weekends. Over the past year, the former Apple exec only rarely spends a full work week at the retailer’s headquarters in Plano, Texas, sources told The Post. “He’s there four days a week, if that much,” according to one source close to the company. Commuting on a company jet from his home in Palo Alto, Calif., sources say Johnson stays during the week at Dallas’s swanky Ritz-Carlton hotel — a perk subsided by...
  • JCPenney’s 3-Step Survival Plan

    12/26/2012 3:28:17 PM PST · by Morgana · 64 replies
    yahoo ^ | Tue, Dec 11, 2012 3:27 PM EST | Jeff Macke
    Former retail titan JCPenney (JCP) is in trouble. The 1,100 store mall staple is in the middle of a radical redesign under CEO Ron Johnson, who led the roll-out of Apple's wildly successful retail locations prior to coming to JCP. In an investor presentation at the beginning of 2012, Johnson promised to do nothing short of re-invent the department store concept. But it hasn't worked out that way. JCP stock is down more than 40% in 2012, sales are collapsing, and employee enthusiasm has deteriorated to the point that the company was forced to announce in an SEC filing that...
  • Time running out for J.C. Penny

    11/13/2012 3:34:59 AM PST · by tobyhill · 69 replies
    Financial Post ^ | 11/12/2012 | Jonathan Ratner
    J.C. Penny Co. was hit with a downgrade at Credit Suisse as the retailer’s sales continue to slow. Analyst Michael Exstein lowered his rating to underperform from neutral and cut his target price to US$15 from US$25 after the company reported its fifth straight quarterly loss on Friday. Mr. Exstein noted that J.C. Penny’s cash position continues to dwindle and it is expected to generate only a minimal amount of EBITDA in 2012 and 2013. The company has already sold US$525-million in non-core assets this year. “Time is no longer on J.C. Penny’s side, and going into the fourth quarter...
  • Penney records bigger-than-expected loss in 2Q

    08/10/2012 3:22:18 AM PDT · by abb · 70 replies
    Associated Press ^ | August 10, 2012 | Anne d'Innocenzi
    J.C. Penney Co. is reporting a bigger-than-expected loss and plummeting sales, as its customers continue to be turned off by a new pricing plan that gets rid of hundreds of sales in favor of every day lower prices. It also withdrew its profit guidance for the year. The department store, based in Plano, Texas, says that it lost $147 million, or 67 cents per share, in the quarter ended July 28. That compares with a profit of 14 million, or 7 cents per share. snip
  • J.C. Penney stock crashes with news of gay marriage support

    07/19/2012 3:25:37 PM PDT · by NYer · 240 replies
    afa ^ | July 17, 2012
    Simply put, people are not shopping at J.C. Penney. AFA and OneMillionMoms are showing success in the effort to educate people to Penney's aggressive national campaign to promote "gay" marriage. The company is going downhill fast. Since February, the company stock has lost more than half its value, and Standard & Poor's Ratings Services lowered its credit rating on J.C. Penney Co. further into "junk" status.Snapshot of J.C. Penney under same-sex marriage crusade February 2012 May 2012 June 2012 July 2012 JCP announces Ellen DeGeneres as their new spokesperson. JCP launches catalog ad featuring two "gay" moms. JCP launches catalog...
  • JC Penney ousts President : Exec no 2 takes fall for failed turnaround strategy

    06/20/2012 7:44:30 AM PDT · by scottjewell · 43 replies
    Brand Channel ^ | June 18 2012 | Shirley Brady
    J. C. Penney Company, Inc. today ousted its JCPenney brand president, Michael Francis, who oversaw the retailer's merchandising and marketing operations, with a terse statement that "We thank Michael for his hard work at jcpenney and wish him the best in his future endeavors." Francis, who was hired last October "at great expense" (as the New York Times retail reporter tweeted, in light of his whopping $12 million signing bonus) from Target is seen as taking the fall for his boss, company CEO Ron Johnson, the former Apple top retailer who oversaw JCP's new brand strategy in January. Now, of...
  • J.C. Penney two-dad ad features local family and DBJ honoree (Father's Day has gone gay...)

    05/31/2012 5:44:18 PM PDT · by jimbo123 · 51 replies
    Dallas Business Journal ^ | 5/31/12 | Steven R. Thompson
    In its June book, J.C. Penney Co Inc. ran an ad featuring another same-sex couple, but this time it features two dads in honor of Father’s Day.