Ahead of a ruling in its fight with Macy’s over Martha Stewart products, Plano-based J.C. Penney Co. is scaling back its partnership with the media and merchandising company.
The move comes two weeks after Ackman resigned from J.C. Penney’s board as part of a deal to resolve an unusually public battle between the activist investor and the struggling department store operator.
Shares of J.C. Penney shares jumped 7 percent after a media report that the retailer is starting a new CEO search to replace Mike Ullman.
When Ross Perot brought EDS to Plano in the early 1980′s, it served as a magnet for other major companies. Today, the city continues to attract even more business.
Plano-based J.C. Penney is sorry, and it wants your business back. That’s the gist of its latest ad that the mid-priced department-store put on its YouTube and Facebook pages.
Plano-based J.C. Penney is confirming that Goldman Sachs will provide it with $1.75 billion in financing, sending shares up 3 percent in trading.
A judge ruled Friday that J.C. Penney can sell some goods designed by Martha Stewart that were destined for shelves this spring —for now.
Attorneys for Plano-based J.C Penney and Macy were back in court Monday to fight over the Martha Stewart brand after a month-long mediation period went nowhere. The court-ordered mediation followed nearly three weeks of testimony.
Home diva Martha Stewart testified in court on Tuesday that she did nothing wrong when she signed an agreement to open up shops within most of JCPenney’s stores across the country.
Eight years after Martha Stewart was released from prison for lying about a stock trade, the 71-year-old home diva is on the witness stand, in the middle of a bitter legal battle between Plano-based J.C. Penney Co. and Macy’s Inc.
J.C. Penney, which is struggling with big losses and steep sales declines, could face another challenge: empty shelves.
Macy’s CEO Terry Lundgren testified on Monday that he hung up on home diva Martha Stewart after she called to inform him back in December 2011 that her company had signed a deal with J.C. Penney to open shops at most of the chain’s stores.