The "original price" is a big fat lie.
Federal Judge Fernando Olguin in Los Angeles, Ca. has just certified a class action suit that accuses J.C.Penney of making up retail prices on apparel and accessories to trick shoppers into believing they were getting a good deal when purchasing some merchandise “on sale.” The law suit states that some merchandise [...]
By Jonathan Stempel (Reuters) - A federal judge has certified a class-action lawsuit that accuses J C Penney Co Inc of marking up retail prices on apparel and accessories to trick shoppers into believing they were getting good deals when the items went on sale. Show More Summary
Bonds backing J.C. Penney advanced today, and credit protection cheapened, after the retailer reported better-than-expected quarterly results. Shares dropped, however, with JCP trading on the NYSE roughly 7% lower, at $8.07. The 8.125% notes due 2019 advanced two points, to 101/101.5, while the 5.65% notes due 2020 ticked up half of a point, [...]
For the first quarter J.C.Penney reported an increase of 3.4% in comparable sales, a good achievement especially in light of weak reports from other retailers. Men’s, women’s, and children’s performed well in the quarter. The company was pleased with its Mother’s Day results, although business was weak to start then [...]
In what is scheduled to be his last earnings report as JC Penney's CEO Mike Ullman promised the retailer was now "on the offensive" and planned to win back American's respect. The report was perhaps a small step in the right direction -- but the ending remains unclear. JC Penney reported $2.86 billion in [...]
(Reuters) - Department store chain J.C. Penney Co Inc reported a narrower quarterly loss and lifted its annual gross margin target, helped by stronger sales. The company posted a loss of $167 million, or 55 cents per share, in the first quarter ended May 2, compared with a net loss of $352 million, or $1.15 per share, a year earlier. Show More Summary
Ian Dagnall/Alamy From a struggling department store chain trying to get back on track to the leading maker of Windows-fueled smartphones showing off its latest products, here are some of the things that will help shape the week that...Show More Summary
There were multiple new apps created in time for the Apple Watch hitting stores in April, with retail one of the key categories within that. Target, Asos, Amazon, JC Penney and Marks & Spencer are just some examples of those who introduced new applications specifically.
The new trailer for Magic Mike XXL is here and it’s all abs. [Youtube] Sad emoji face: The Joe Fresh shops at JC Penney will all close this year. [Racked] Cannes is the latest celeb-filled event to ban seflies. [E!] One company is changing the way bras are designed just for ladies with big busts. […]
Ron Johnson has unveiled his new retail endeavor, and it’s called “Enjoy.” Mr. Johnson is, of course, the Apple executive who oversaw the Apple Store’s rapid expansion and then moved on to JC Penney. His tenure at JCP was as disastrous as his tenure at Apple was successful. Now he’s envisioned [...]
Ron Johnson knows what you think of him. Johnson knows that in a period of less than two years, he went from being The Guy Who Built the Apple Store to being The Guy Who Almost Destroyed JC Penney. Of course he knows all that. But Ron...Show More Summary
Former JC Penney CEO and one-time Apple retail head Ron Johnson on Wednesday launched a new company, Enjoy Technology, that will not only sell products like smartphones, drones, notebooks, and tablets, but also offer free personal delivery and setup for orders.
I think I've seen this movie before. (image via Thinkstock) Hey, dads! Ever spent Mother's Day racing through a J.C. Penney last-minute, trying to snag a pathetic basket of bath soaps so your wife's special day isn't ruined? Well, she may have found a new man to disappoint her. Show More Summary
An eight-story building that housed garment factories in Savar, Bangladesh, collapsed on April 24, 2013, killing more than 1,000 people and injuring many more. This week, the victims and their families filed a lawsuit in federal court in Washington against Walmart and other stores that allegedly sourced products from those factories.
In an effort to bring high design to your neighborhood shopping mall, JC Penney has paired with the likes of Terrance Conran and Jonathan Adler — but their latest design partnership comes from a somewhat unexpected place. They've just...Show More Summary
Mike Ullman, the present Chief Executive Officer will relinquish that post at the end of June 2015. He will stay on as Non-Executive Chairman for a year. Marvin Ellison, President and Chief Executive-in waiting, will succeed Mr. Ullman in that position. While I have not yet met with Ullman’s successor, [...]
Somewhere, Ron Johnson is smirking so hard right now.
Someone at JC Penney messed up. In a filing with the SEC on Tuesday morning, retailer JC Penney disclosed that a "senior official" at the company inadvertently sent details about the company's first quarter same-store sales to an analyst. This...Show More Summary
(Reuters) - J.C. Penney Inc said a senior executive inadvertently disclosed information on its same-store sales in the first quarter so far to an analyst. The executive's email to the analyst said that J.C. Penney's same-store sales had risen about 6 percent in the period, the department store chain said in a regulatory filing on Tuesday. Show More Summary