JC Penney Is The Bright Spot For Retail This WeekJ.C. Penney delivered some encouraging news in the form of rising comparable-stores Friday, reversing four straight quarters of declines.
Penney's CFO Says He And CEO Have No Plans To QuitThe word from J.C. Penney's Chief Financial Officer Ken Hannah: neither he nor CEO Ron Johnson have plans to resign despite a growing chorus of critics calling for a management shake-up as they lose faith in a turnaround strategy.
JC Penney Cuts An Additional 2,200 WorkersJ.C. Penney Co. confirmed Friday it's eliminating an additional 2,200 jobs as the struggling department store chain slashes costs after a year of plunging sales and mounting losses.
JC Penney Posts 4th Straight Loss, Sales DropThe mid-priced department store chain reported another much larger-than-expected loss in the fiscal fourth quarter on a nearly 30 percent plunge in revenue in the latest sign shoppers aren't happy with the changes it's made in the past year.