J.C. Penney
June 11, 2018 at 3:09 pm
J.C. Penney announced last week that it has launched Fanatics shops inside 325 of its stores, with plans to introduce another 325 additional Fanatics destinations by the back-to-school season. Since 2014, sports apparel brand Fanatics has sold its merchandise online at jcpenney.com. Like the online store, the shops-in-shops will house Fanatics shops with local collegiate…
March 5, 2018 at 1:08 pm
Foot Locker is the latest retailer to reduce its store count in an effort to cut costs, according to a March 2 Business Insider report. More specifically, the retailer plans to close approximately 110 stores this year, mostly those that are considered underperforming locations. This latest round of store closures augments the 147 stores that Foot Locker closed…
February 16, 2018 at 11:14 am
J.C. Penney is anticipating closing eight of its department stores across the U.S. this year, a spokesman told CNBC. The move is part of the company's ongoing plan to right-size its store fleet as more sales move online. J.C. Penney operates roughly 875 department stores today. That's after the retailer shuttered nearly 140 stores throughout 2017.…
December 12, 2017 at 12:59 pm
J.C. Penney, long a leader in the men's big and tall business, expects to reach more of those customers with a new partnership it's formed with Bombfell.com, a men's clothing subscription box service similar to Stitch Fix and Trunk Club. The partnership gets Penney into the clothing subscription business, in which a stylist personalizes pieces and outfits…
October 20, 2017 at 12:40 pm
Target Corp. said this week that it would remodel more than 1,000 stores by the end of 2020, as well as expand its Target Restock program and open new stores. As for the remodels, Target said it will combine “the best of our digital and technology upgrades, elevated merchandise presentations and fulfillment services to make…
August 2, 2017 at 12:04 pm
J.C. Penney has announced a new partnership with "Project Runway" that lands the department store retailer as a fixture on the design-competition reality show. J.C. Penney will be the exclusive retailer for “Project Runway” for seasons 16 and 17, as well as “Project Runway All Stars” for season seven. The retailer will sponsor a design challenge…
July 26, 2017 at 12:41 pm
J.C. Penney has named a new chief financial officer two weeks after its previous executive’s departure. Jeffrey Davis takes J.C. Penney’s executive vice president and CFO role effective immediately, the company announced Monday. He replaces Andrew Drexler, who served in the role on an interim basis following former…
May 22, 2017 at 12:20 pm
Struggling department store chain J.C. Penney is taking aim at a potential new set of customers: other businesses. J.C. Penney, which last week reported a dismal first quarter and whose shares are trading near all-time lows, said on Thursday it planned to leverage its new home services business to try to win more sales from…
May 15, 2017 at 9:47 am
J.C. Penney's stock price closed at a historic low on Friday after it missed its first quarter forecast and said customer traffic was below a year ago. While the department store chain said it can still pull off recently lowered full-year targets for flat sales and improvements in margins, investors pummeled the stock. Penney's stock price closed below $5 a…
May 8, 2017 at 12:28 pm
The retail industry announced 11,669 job cuts in April, the highest total among all industries, bringing the year-to-date total to 50,133. That's up 36 percent from the 36,977 retail sector job cuts announced in the first four months of 2016. The retailers responsible for the most job cuts this year include Macy's (10,000), J.C. Penney…
