The bankruptcy filing of America's oldest apparel retailer Brooks Brothers has ignited significant interest from potential buyers for the brand. WHP Global and a venture backed by Authentic Brands Group LLC and Simon Property Group, Inc., are reportedly considering bids for the retailer. WHP Global owns the Anne Klein and Joseph Abboud brands....
Jul 10, 2020
Sycamore partners, a private equity firm, is in preliminary talks to acquire J.C. Penney Co Inc out of bankruptcy. The news was reported by Reuters. J.C. Penney is currently in negotiations with creditors, but should these negotiations fail acquisition by Sycamore is an option. In May, J.C. Penney filed for bankruptcy protection after the...
Jun 8, 2020
J.C. Penney will be permanently closing 154 stores and will pursue other store liquidations as part of its Chapter 11 Bankruptcy plan. J.C. Penney filed for bankruptcy on May 15, and is now doing its best to emerge from this filing as financially stable as possible. Stores expected to be permanently closed include nine in California, nine in...
Jun 5, 2020
Department store chain J.C. Penney is expected to file for bankruptcy as early as this weekend, according to Reuters. The troubled retailer is expected to close 200 of its 850 locations, and is the latest in a string of store groups and brands facing financial dire straits during the pandemic. The filing will likely have been accelerated by the...
May 12, 2020
J.C. Penney Co. and Sephora USA Inc. have reached an agreement over the dispute regarding Sephora operating about 650 shop-in-shops inside of J.C. Penney locations. Most of the terms of the agreement have been kept under wraps, but a deal has been reached that says Sephora will continue to operate stores inside of J.C. Penney. J.C. Penney filed...
May 8, 2020
Sephora is trying to undo a temporary restraining order that keeps it locked into an agreement with J.C. Penney for operating mini-stores. Sephora has told a Texas federal court that the order was procured by "improper means" based on a "fanciful, one-sided narrative." Yesterday, a Texas federal court judge set a Friday hearing for Sephora's...
May 6, 2020
The company said on Thursday its Q4 net profit dropped. Revenues slipped by 7.7 percent from the same period last year. The company's net profit for Q4 was 27 million dollars, down from 75 million dollars a year earlier. Revenues slipped to 3,384 million dollars. Compared to 2 percent a year ago, the profit margin of the company decreased to 1...
Feb 27, 2020
New York – Despite J.C. Penney Co. (JCP) reported better-than-expected quarterly results, the department store operator might be running out of time to turn around its business, according to market sources. The retailer reported another quarter of losses and topline deterioration. The company’s announcement of adding ThredUp shops to 30 of its...
Aug 18, 2019
New York – Earlier this month Reuters cited sources close to the matter, reporting that the retailer "hired advisers to explore debt restructuring options." The report, which cited people "familiar with the matter," called the move a "high-stakes attempt to get its financial house in order". Responding to the news, J. C. Penney Company, Inc....
Jul 24, 2019
J.C. Penney has announced the appointment of W. Paul Jones to its Board of Directors. Jones was CEO of Payless ShoeSource between 2012 and 2017, when he retired. Prior to that, he served as CEO and Chief Merchandising Officer at Shopko. His career also includes senior positions at Kohl’s and May Department Stores. “Paul’s areas of expertise are...
Jul 12, 2019
True or false: consumers that love a certain fashion brand will buy items from said brand online, again and again. False, according to a new survey conducted by WGSN. After surveying 15,000 women aged 16 to 39 in the US and UK, the global fashion trend forecaster found out that brand love and purchase frequency online are not correlated. First,...
Jun 14, 2018
Shares at J.C. Penney shares fell sharply on Friday after the retailer warned its third-quarter loss would be substantially worse than expected by the market. The key reason for such a weak quarterly performance lies in heavy discounting on its apparel lines. Based on recent performance, J.C. Penney now expects a loss of between 40 cents to 45...
Oct 29, 2017
