NEWS ABOUT: JCPenney

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JCPenney Drunk Tweets During Super Bowl?!

Nope, it turns out the retailer was just kidding around

(Newser) - JCPenney, drunk tweeter? Nah, it turns out the company's retail Twitter account was just pulling our collective leg—and attracting a little attention—by tweeting silly things, AdWeek reports. But it's kinda funny to see how the tweets drew the Doritos and Kia social media teams into taking... More »

JCPenney Cuts 2K Jobs, 33 Stores

Retailer apparently still smarting from disastrous strategy

(Newser) - Struggling JCPenney will cut 2,000 jobs and close 33 stores as it tries to get back on the path to profitability. The news raises concerns that Penney's holiday season sales were weaker than expected and that the chain needs to do even more to recover from a... More »

Hedge Fund Chief Dumps JCPenney for $490M Loss

Ackman backed policies that led to huge drop in sales

(Newser) - After buying a huge stake in JCPenney and backing a disastrous revamp that has left the chain floundering, Bill Ackman has decided he's done with the company. The Pershing Square hedge fund Ackman runs has announced its intention to unload its 18% stake in the company at a price... More »

New JCPenney Ad: We're Sorry, Come Back!

Hopes put-off customers will return for Mother's Day

(Newser) - It's what so many of us do after our relationships implode: beg the other to come back. Please! JCPenney is now trying the groveling route as well. The embattled retail empire has released a new ad that begins "It's no secret...," apologizes for its "mistakes,... More »

JCPenney Shares Surge as Soros Reveals Big Stake

Billionaire informs SEC he owns 8%

(Newser) - Finally, a spark of hope for floundering JCPenney. Shares of the retailer were up more than 6% in aftermarket trading today after billionaire financier George Soros disclosed a 7.9% stake in the company. Soros disclosed he owns about 17.4 million shares in a filing with the Securities and... More »

Mass Layoffs Backfired in JCPenney Overhaul

Slashing headcount wasn't one of Ron Johnson's better ideas

(Newser) - Of all the missteps that led to the plunge in sales at JCPenney and the exit of CEO Ron Johnson , the mass layoffs Johnson instigated may have been the most damaging, the Wall Street Journal reports. The firm's average 150,000 full- and part-time workers had been gutted to... More »

JCPenney Dumps 'Disastrous' CEO

Ron Johnson out, predecessor Myron Ullman in

(Newser) - JCPenney has ditched CEO Ron Johnson after a 17-month run that produced some of the most disastrous results in retail history . Johnson, who masterminded Apple's retail success, will be replaced by his predecessor Myron Ullman, reports the New York Times . The struggling chain is in the middle of a... More »

JC Penney CEO Gets 96% Pay Cut

Ron Johnson made less than $2M in 2012

(Newser) - Let's just say Ron Johnson's 2012 was not quite as good as his 2011. The JC Penney CEO worked just two months in 2011 and got $53.3 million for his troubles, the vast majority of it in stock; but last year his compensation was slashed a staggering... More »

It's True: JCPenney Is a Disaster

Matthew Yglesias pays a visit and finds all the bad reviews to be true

(Newser) - JCPenney reported earnings this week that were so bad they boggle the mind, writes Matthew Yglesias in Slate . (Maybe the worst ever in retail?) The chain has been struggling to reinvent itself under the vision of Apple retail guru Ron Johnson, and Yglesias decided to visit a store himself to... More »

4 Stores on the Brink in 2013

Best Buy, JC Penney, Sears, RadioShack have their work cut out for them

(Newser) - The retail world is changing, and some old-school giants are struggling to change with it. Today the Wall Street Journal took a look at four companies facing a do-or-die 2013:
  • Best Buy: People still go to Best Buy … to look at things they intend to buy on Amazon later.
... More »

Amazon Reigns Again Among Online Stores

JCPenney, Apple, and Dell all see drops in satisfaction

(Newser) - There's no question who's king of the online retail jungle. Amazon came out on top once again in ForeSee's annual Holiday E-Retail Satisfaction index, which measures how happy customers were with their shopping experience. It's the eight straight year Amazon has come out on top, CNET... More »

JCPenney: OK, We'll Bring Back the Word 'Clearance'

Six months after launching new pricing strategy, a new pricing strategy

(Newser) - JCPenney has apparently realized the whole no-more-sales move was a bad one. With its stock down almost 40% this year, the store is backtracking on its six-month-old pricing strategy by introducing yet another pricing strategy. In February, the department store canned its hundreds of yearly sales in favor of a... More »

JCPenney Father's Day Ad Features 2 Dads

Follows anti-Ellen DeGeneres boycott attempt

(Newser) - Looks like JCPenney is sticking it to those who slammed Ellen DeGeneres' hiring as its spokeswoman. The company's new Father's Day ad shows two "real-life" dads playing with their two actual kids, JCPenney says. "First Pals: What makes Dad so cool?" the ad's copy asks,... More »

Why JCPenney's No-Coupon Experiment Is a Bust

People actually like sales, coupons: Brad Tuttle

(Newser) - JCPenney’s new plan —stop offering huge markdowns on inflated, “fake prices” in order to offer “fair and square” pricing—sounds good in theory. Prices start at least 40% lower than they had been, with no need for customers to take advantage of sales or coupons... More »

'1M Anti-Gay Moms' Protest Ellen's Hiring by JC Penney

Group blasts chain's new spokeswoman

(Newser) - A group calling itself "One Million Moms" isn't happy about JC Penney's new spokeswoman, openly gay talk-show host Ellen DeGeneres. "Funny that JC Penney thinks hiring an open homosexual spokesperson will help their business when most of their customers are traditional families,” the group says.... More »

JC Penney's New Plan: an End to All Those Sales

...because every day will be a sale!

(Newser) - After attempting to woo bargain-hunters with 590 sales last year, JC Penney is officially doing away with them. But penny pinchers don't need to fret. The struggling chain's plan is to essentially make every day a sale by marking down all of its merchandise by 40% or more—... More »

JCPenney Opens Facebook Store

People can go shopping without leaving the site

(Newser) - JCPenney has achieved a watershed in online retail: It's opened a full-fledged store within Facebook, Consumerist reports. The store's application looks more or less like a conventional retail website, except with the characteristic social networking features: users can "like" an item and share product pages and reviews with friends... More »

JC Penney Ditching 'Big Book' Catalog

Oversize book was a relic in Internet age

(Newser) - Retailer JC Penney is discontinuing its Big Book—the 1,000-page catalog as big as a telephone book—as customers increasingly buy from jcp.com. The Penney Big Book has long been a cultural fixture for many, but younger customers aren't following suit. "It was an outdated way of... More »

Earnings Drive Dow Up 73

Dow Up 2.5% from week-ago close

(Newser) - Stocks finished off their intraday highs but with solid gains on strong earnings reports from Disney, Abercrombie & Fitch, and JCPenney, the Wall Street Journal reports.
  • The Dow gained 73.00 points to close at 10,270.47.
  • The Nasdaq added 18.86, settling at 2,167.88.
  • The S&
... More »

Obama CIO Stole Shirts From JC Penney

Kundra comes across as 'petty thief with bad taste in clothes'

(Newser) - Days ago, it emerged that President Obama’s Chief Information Officer once pleaded guilty to theft; now the Business Insider comments on what Vivek Kundra stole: $134 worth of JC Penney shirts. “At an average of $33.50 a pop, they weren't even nice shirts, even in 1996 dollars”... More »

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