J.c. Penney | featured news

The ad comes after the Plano, Texas-based company last month fired its CEO, Ron Johnson, after 17 months on the job and rehired his predecessor Mike Ullman. Johnson's ambitious changes included getting rid of most sales and bringing in new, hip brands. The strategy was designed to attract younger, wealthier shoppers in a bid to reinvent the stodgy retailer, but it alienated Penney's loyal customers and caused sales to plummet.

A New York appeals judge on Tuesday stopped J.C. Penney from selling certain Martha Stewart goods until Thursday, when he is expected to decide whether to extend the block while an appeal from Macy's Inc is pending.

A New York State Supreme Court judge ruled that the retailer could at least temporarily sell Martha Stewart-designed housewares under the JCP Everyday label.

J.C. Penney has hired bankers at Blackstone for advice on shoring up its fast-eroding cash. The company is seeking to raise about $1 billion. Bond analysts don't think Penney's operations will be able to generate enough cash to cover the company's needs beyond a year, putting pressure on new Chief Executive Myron "Mike" Ullman to cut costs and look for ways to raise new capital even as he tries to get more shoppers into stores.

After a troublesome, 17-month run, Ron Johnson is out as chief executive of J.C. Penney, and with that, the most closely watched revival effort in retail in recent memory is in danger of disintegrating.

Eight years after Martha Stewart was released from prison for lying about a stock trade, the home diva is now facing another legal mess that may not be easy to clean up. Stewart, 71, took the stand in New York State Supreme Court Tuesday morning. She is at the center of a bitter legal battle between two of the nation's largest retailers - Macy's Inc. and J.C. Penney Co.

Amazon.com Inc remained the best website for shopping online while JC Penney Co Inc suffered the largest drop in customer satisfaction of any major online retailer this holiday season, according to a survey released on Thursday.

J.C. Penney CEO Ron Johnson seems unfazed that the department store chain's mounting losses and sales declines have led to growing criticism of his plan to change the way we shop. Perhaps that's because this isn't the first time during Johnson's 30-year career that he's attempted what seemed impossible.

J.C. Penney Co. reported a bigger-than-expected loss in the third quarter on plummeting sales as customers continue to reject its move get rid of blockbuster sales in favor of everyday low pricing.

J.C. Penney Co.’s transformation team started to unravel on Monday. Penney president Michael Francis was fired after only eight months as the No. 2 executive at the Plano-based department store chain. Francis’ abrupt departure appears to be another corrective step from CEO Ron Johnson, who recently acknowledged that Penney’s marketing message has confused shoppers.