JCPenney’s shares are tumbling a day after the company announced the departure of Michael Francis, a top executive brought in last October to help redefine the store’s brand.
The shares will stop trading before the opening bell next Thursday. The delisting includes AMR common stock and some company-issued notes.
The Dow Jones Industrial average dropped 419 points Thursday as investors worried over a trio of problems.
Many people in their 40s and 50s are feeling the painful equation. When the market drops, so do their 401ks. It seems the only thing going up these days is the retirement age.
The company increased its fiscal-year outlook, but weaker profit margins in its core Express and Ground segments and a soft second-quarter forecast made investors nervous. The company also plans to cut 1,700 jobs and close […]