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.
Beleaguered department store JCPenney named Kraft Foods executive Debra Berman as senior vice president of marketing to help revitalize the struggling brand.
Attorneys for JCPenney and Macy’s are back in court Thursday to present closing arguments in a contract dispute over a partnership with the Martha Stewart brand.
A billboard in Culver City, CA has had bloggers buzzing about its uncanny resemblance to former German Nazi Chancellor Adolf Hitler.
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.
JCPenney said that it has drawn $850 million from its $1.85 billion revolving credit line, a clear sign that the flailing department store chain is in a severe cash crunch.
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.
A published report said that JCPenney is consulting with bankers at Blackstone Group on how the struggling department store chain can raise $1 billion in cash.
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.
What used to be Valley View Mall is about to become a mega entertainment area. It will have condos, two luxury hotels, a surfing wave pool and fountains, office space, and plenty of shopping.