All JC Penney articles

  • News

    JCPenney unveils plans to enhance financial position


    Troubled department store group JCPenney has unveiled plans to enhance its financial position, having burned through $10m (£6.56m) in the fiscal year ended February 2, prompting liquidity concerns. As part of the process, the retailer has drawn $850m (£556.7m) from its $1.85bn (£1.21bn) committed revolving credit facility. Proceeds will ...

  • JCPenney

    Analysis: JCPenney and Ron Johnson - what went wrong?


    This week US retailer JCPenney revealed that chief executive Ron Johnson is leaving the company after a tumultuous tenure in the top seat.

  • News

    Sales fall at department store group JCPenney


    Department store group JCPenney’s sales fell 22.6% to $3.02bn (£1.92bn) for the second quarter ended July 28. Like-for-like sales were down 21.7%. Online sales were $220m (£140m) in the period, a fall of 32.6%. The retailer said the results included the effects of its exit from its outlet ...

  • News

    JCPenney to stock discount apparel brand


    Department store group JCPenney will stock Canadian grocer Loblaw’s discount apparel brand, Joe Fresh, in 700 stores starting in April 2013. The areas, designed by the Joe Fresh team, will range from about 1,000 sq ft to 2,500 sq ft, and debut with women’s apparel. Joe Fresh products will ...

  • News

    JCPenney to revamp US stores


    Department store chain JCPenney is revamping almost 700 US stores. The scheme will create a new in-store layout, including multiple smaller units, dedicated to particular brands such as clothing and cosmetics. The initial transformation of 10 stores is expected to be completed by August 2012. The retailer is to ...

  • News

    JCPenney's sales tumble as US retail gloom grows


    JCPenney’s chief executive has blamed the gloomy mortgage market and credit crunch for disappointing sales in its third quarter ending November 3.