JCPenney

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JCPenney Nearly Sold After 'Screaming Matches'

The department store chain negotiates a $1.75B deal

(Newser) - Looks like JCPenney has found itself a buyer. The dying department store chain—which filed for Chapter 11 bankruptcy protection back in May—has struck a tentative deal with a group of lenders and mall owners, USA Today reports. Brookfield Property Partners, Simon Property Group, and bankruptcy lenders are expected...

Where Old Mall Stores Move Out, Amazon Looks to Move In

Retailer is in talks to turn old Sears, JC Penney sites it helped drive out into fulfillment centers

(Newser) - That depressing, empty Sears or JC Penney at your local shopping mall? Amazon may soon turn it into a fulfillment center. Simon Property Group Inc., the largest mall owner in the US, is in talks with the online retailer on the matter, the Wall Street Journal reports. If the deal...

Another Retailer Topples in Pandemic: JCPenney

Chain files for bankruptcy protection

(Newser) - The coronavirus pandemic has pushed troubled department store chain JCPenney into Chapter 11 bankruptcy, per the AP . It's the fourth major retailer to meet that fate. As part of its reorganization, the 118-year-old company said late Friday it will be closing some of its stores and will disclose details...

The Mall Was Dead, Except for the JC Penney
What It's Like to Work in the
Last Big Store in a Dying Mall
in case you missed it

What It's Like to Work in the Last Big Store in a Dying Mall

Washington Post writer follows one worker at store's jewelry counter in Hermitage, Pa.

(Newser) - To say the Shenango Valley Mall has seen better days would be an understatement. The Hermitage, Pa., mall used to offer the town's 16,000 residents a Sears, Macy's, and JC Penney. But in March, the first two closed, and smaller stores—Rue 21, GNC, a pizza place—...

One Company Has Already Laid Off 10K in 2017

Macy's isn't alone, though, in racking up such job losses

(Newser) - The good news: The number of layoffs in the US has improved since last year: By the end of July in 2017 there were 255,000 in total, while by the same time in 2016 there were 360,000. The bad news: Per a 24/7 Wall St. analysis, there are...

JCPenney Closing at Least 130 Stores

6K employees will get early retirement incentive

(Newser) - JCPenney says it will be closing 130 to 140 stores over the next several months as it aims to improve online sales, reports the AP . Locations will be announced next month. CEO Marvin Ellison says the company also is offering an early retirement program to 6,000 employees, per the...

'You're Nobodies': JCPenney Shopper Goes on Racist Rant
Why JCPenney
Shopper Has
Been Banned for
Life From Mall
VIRAL VIDEO

Why JCPenney Shopper Has Been Banned for Life From Mall

2 Hispanic women in Kentucky were objects of her rant

(Newser) - Last-minute holiday shopping is usually stressful, but for two Hispanic women in Kentucky, a trip to the local mall proved even more so—and now everyone's watching the video of what happened. Per NBC News , a shopper at JCPenney in Louisville's Jefferson Mall laid into the women Tuesday...

Macy's, JC Penney Sued Over Bargains That Aren't Bargains

'Customers have the right to be told the truth about the prices they're paying'

(Newser) - Los Angeles prosecutors on Thursday sued four national retailers, accusing them of duping shoppers into believing they got bigger discounts than they actually did, the AP reports. The separate lawsuits alleging deceptive advertising were filed against JC Penney, Sears, Kohl's, and Macy's, according to the Los Angeles city...

JCPenney Brings Back Its Dead-Tree Catalog

Customers use it to shop online

(Newser) - JCPenney has found that even in the Internet age, print has its place. Decades after launching its big catalog in 1963, JCPenney stopped sending it in 2009. Now, the company is restoring the catalog, having found that many online shoppers—some 31%, according to analysts—use the book as inspiration,...

JC Penney Drunk Tweets During Super Bowl?!
JCPenney Drunk Tweets During Super Bowl?!
super bowl xlviii

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...

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...

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...

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,...

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...

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...

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...

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...

It's True: JCPenney Is a Disaster
 It's True: 
 JCPenney Is a Disaster 
OPINION

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...

4 Stores on the Brink in 2013
 4 Stores on the Brink in 2013 

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.
...

Amazon Reigns Again Among Online Stores
 Amazon Reigns Again  
 Among Online Stores 

SURVEY SAYS

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...

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