JCPenney, the struggling retailer that is trying to reassure the market about its financial stability, expects to raise about $810.6 million via a public stock offering.
J.C. Penney Co. plans to sell up to 96.6 million shares of common stock in a public offering, the latest indication the chain is looking to shore up its cash reserves.
JCPenney Co., whose shares have been tumbling on worries about its business, says that it is pleased with its turnaround efforts so far.
The holidays are fast approaching and several retailers across the area are preparing for the busy shopping season by increasing their staff over the next few months.
JCPenney’s biggest investor Bill Ackman is through with the retailer, selling his entire 18 percent stake to Citigroup and taking a more than $400 million bath on the deal.
JCPenney’s biggest investor, William Ackman, plans to raise up to about $504.4 million from the sale of his entire stake in the struggling department store operator.
Struggling retailer JCPenney is adopting a “poison pill” shareholder plan just two days after reporting its sixth straight quarter of big losses and steep revenue declines.
JCPenney is reporting another big loss on a nearly 12 percent drop in revenue for the second quarter.
JCPenney and its largest shareholder, William Ackman, have made a deal that sets terms for allowing him to unload his stake in the company.
Struggling retailer JCPenney is under fire again, this time for one of the company’s latest ‘back to school’ television advertisements.
William Ackman has resigned from JCPenney’s board as part of a deal to resolve a 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.