Shares of J.C. Penney fell 10.6 percent on Tuesday to a four-year low after media reports said a large shareholder sold a chunk of the struggling retailer’s stock.
J.C. Penney, which also is struggling with big losses and steep sales declines, could face another challenge: empty shelves. A judge told Penney’s attorneys that the chain took a risk by ordering mercandise from the company Martha Stewart founded.
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.
JC Penney took a different approach to Black Friday than other major retailers like Target, Wal-Mart and Toys ‘R’ Us, which opened Thanksgiving evening.
J.C. Penney Co. executives may be confident in the department-store chain’s everyday pricing strategy, but investors are panicking. The Plano-based company’s stock fell nearly 11 percent on Monday.
J.C. Penney Co. reported a bigger-than-expected loss in the third quarter on plummeting sales as customers continue to reject its move get rid of blockbuster sales in favor of everyday low pricing.
Hundreds of North Texans are losing their jobs as Research In Motion, the maker of Blackberry, slims down its global workforce.
Macy’s Inc. is suing rival retailer J.C. Penney Co., claiming Penney’s bid to sell products by Martha Stewart Living resulted in the breach of an exclusive contract held by Macy’s and could cost it potentially billions in sales.
J.C. Penney is reporting a bigger-than-expected loss and plummeting profits in the first quarter as many of its customers are rejecting a new bold pricing strategy that puts an end to rampant discounting in favor of everyday low prices.
Plano-based JC Penney says its turned a second-quarter profit
A pair of North Texas retailers release July sales numbers, and the stories are very different.