• Home
  • Tags
  • jcpenney

jcpenney news and archive

Report

JCPenney to cut 1000 jobs, close 152 stores

J. C. Penney Company, Inc. is aligning its workforce with its store optimization strategy and reduced store footprint. The company said in a statement that JCPenney has identified 152 store closures following a comprehensive evaluation of store performance and strategic fit for the company and is having ongoing negotiations with landlords. In...

Jul 16, 2020

Management

JCPenney to close 13 more stores

Struggling retailer J. C. Penney Co. Inc. has issued a new list of 13 more stores to be closed permanently as part of its Chapter 11 bankruptcy process. The department store chain would begin liquidation sales at the stores on July 3, pending court approval. The latest store closures reportedly include seven in Michigan, and the remaining in New...

Jun 24, 2020

Retail

JCPenney begins liquidation process in 137 stores

JCPenney is officially closing 137 locations across the U.S., with closing sales already underway. These closures mark the first steps in JCPenney's store optimization strategy, which focuses on driving sustainable, profitable growth. The company intends to reduce its store footprint in favor of putting more resources on its strongest stores and...

Jun 18, 2020

Retail

JCPenney offers designated shopping hours for at-risk customers

JCPenney has announced that it will offer designated shopping hours for at-risk customers in its newly reopened stores. The retailer defines at-risk customers as senior citizens, expectant mothers, and those with underlying health concerns. Stores will be open for only these shoppers on Wednesdays and Fridays from 11 in the morning until noon....

May 28, 2020

Management

JCPenney files for bankruptcy to reduce debt

J. C. Penney Company, Inc. becomes the latest retail giant to enter into Chapter 11 bankruptcy. The company said in a statement that the restructuring support agreement (RSA) with lenders holding approximately 70 percent of JCPenney’s first lien debt is expected to reduce several billion dollars of indebtedness and provide increased financial...

May 18, 2020

Report

JCPenney and Sephora settle dispute over in-house boutiques

J. C. Penney Company, Inc. and Sephora USA, Inc. have reaffirmed their long-standing partnership to operate Sephora inside JCPenney. JCPenney said in a statement that both the companies worked to resolve outstanding legal matters and have agreed to mutually beneficial revisions to their joint enterprise operating agreement. About 650 in-store...

May 8, 2020

Report

JCPenney decides to furlough majority of corporate staff and store associates

J. C. Penney Company, Inc. has announced extension of the temporary closure of its stores and business offices due to the coronavirus pandemic. As a result of its store closures, the company said in a statement, it has decided to temporarily furlough the majority of store hourly associates, beginning April 2. The company added that during this...

Apr 1, 2020

Management

JCPenney expands senior leadership teams with six new hires

JCPenney has announced the appointment of six vice presidents, each bringing years of leadership, innovation, and expertise to the company. “We continue to build a strong and talented team of leaders at JCPenney who will champion us through our Plan for Renewal,” said Jill Soltau, the company’s Chief Executive Officer in a statement, adding, “...

Feb 3, 2020

Report

JCPenney Holiday comparable sales decline 7.5 percent

J. C. Penney Company, Inc. announced that its comparable store sales for the combined nine-week period ending January 4, 2020 decreased 7.5 percent. The company said in a statement that adjusted comparable store sales, which exclude the impact of the company’s exit from major appliance and in-store furniture categories, decreased 5.3 percent....

Jan 9, 2020

Report

JCPenney names Karl Walsh as Chief Digital Officer

J. C. Penney Company, Inc. has announced Karl Walsh, an executive with more than 18 years of ecommerce expertise, joined the Company on December 2, 2019 as Senior Vice President, Chief Digital Officer, to lead strategic advancements of the company’s digital platforms and bring the customer experience to life, most notably in its flagship store...

Dec 4, 2019

Report

JCPenney manages to cut losses in Q3

Third quarter sales at J. C. Penney Company, Inc. reported total net sales decrease of 10.1 percent to 2.38 billion dollars. JCPenney’s comparable store sales decreased 9.3 percent for the quarter. For the third quarter, the company’s net loss improved from 151 million dollars or 48 cents per share last year to 93 million dollars or 29 cents per...

Nov 15, 2019

Management

JCPenney announces two senior executive appointments

J. C. Penney Company, Inc. has appointed Brooke Buchanan, a communications executive with over 15 years of experience, will join the company on October 28, 2019, as Senior Vice President, communications, reporting to Jill Soltau, the company’s Chief Executive Officer. The company also said in a statement that Robin Beuthin is joining JCPenney as...

Oct 22, 2019