JCPenney news and archive

JCPenney announces appointment of two senior executives

J. C. Penney Company, Inc. has announced a series of leadership actions taking place over the next few months that the company said, will assemble a cross-functional executive team that merges the talents and perspectives of new and existing industry leaders. JCPenney added that beginning January 21, Mike Robbins, executive vice president of...

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JCPenney posts 5.4 percent drop in comparable holiday sales

JCPenney Company, Inc. has said in a statement that its comparable store sales for the combined nine-week period ending January 5, 2019, decreased 3.5 percent on a shifted basis, while on an un-shifted basis, comparable sales decreased 5.4 percent. JCPenney also said that it will initiate three preliminary store closings this spring as part of...

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JCPenney Q3 net loss widens to 151 million dollars

For its fiscal third quarter, J. C. Penney Company, Inc. announced comparable sales decrease of 5.4 percent, while net loss for the quarter was 151 million dollars or 0.48 cents per share. For the third quarter, total net sales decreased 5.8 percent to 2.65 billion dollars and reflecting the calendar shift in 2018 due to the 53rd week in 2017,...

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JCPenney appoints Michael Fung as interim CFO

J. C. Penney Company, Inc. has announced that Michael Fung is temporarily joining the company as interim chief financial officer effective October 30, succeeding Jerry Murray, who will resume his responsibilities as Senior Vice President of finance. "We welcome Michael's CFO experience and guidance as we continue our search for a permanent chief...

Management

Jill Soltau to join JCPenney as Chief Executive Officer

The J. C. Penney Company, Inc. has appointed Jill Soltau as the company’s new Chief Executive Officer and a member of the board of directors, effective October 15, 2018. "Jill stood out from the start among an incredibly strong slate of candidates," said Paul J. Brown, JCPenney board director and chairman of the search committee in a statement,...

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JCPenney launches new private brand - Peyton and Parker

Ahead of the holiday shopping season, JCPenney has launched a new private brand called Peyton and Parker. The company said in a statement that designed to help moms create effortless style for the family and home, Peyton and Parker offers a curated collection inspired by Instagram moments and the beautiful aesthetic created by every day, stylish...

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JCPenney’s CFO Jeffrey Davis steps down

J. C. Penney Company, Inc. announced that Jeffrey Davis, executive vice president and chief financial officer has decided to leave the business effective October 1 to pursue another opportunity. The company said, Jerry Murray, senior vice president of finance, will assume the position of interim chief financial officer, reporting directly to the...

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JCPenney launches Artesia, a new boho-style brand for women

Focussing on driving its women's apparel business, JCPenney said that it is launching Artesia, a new boho style brand for women featuring relaxed silhouettes, flowy fabrics and peasant-style tops and dresses. Exclusive to JCPenney, the company added that the brand will launch in nearly 400 stores and at JCPenney.com beginning September 7, 2018....

Fashion Featured

Shaquille O'Neal launches big & tall collection with JCPenney

Building on the company's partnership with NBA legend and TV personality Shaquille "Shaq" O'Neal, JCPenney has unveiled a new, exclusive big & tall brand, Shaquille O'Neal XLG. Available in 350 stores online and at JCPenney.com on September 13, the brand will feature a curated selection of men's clothing and furnishings designed for big & tall...

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JCPenney’s Q2 net loss widens to 0.32 dollar per share

J. C. Penney Company, Inc. has said that for its fiscal second quarter ended August 4, 2018, comparable sales increased 0.3 percent and net loss for the quarter was 101 million dollars or 0.32 dollar per share compared to a net loss of 48 million dollars or 0.15 dollar per share in the same period last year. Total net sales for the quarter...

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JCPenney Chairman and CEO Marvin Ellison resigns

J. C. Penney Company, Inc. has announced that Chairman and CEO Marvin R. Ellison has notified the company of his decision to resign from his role to pursue another opportunity with Lowe's Companies, Inc. The company added, while Ellison will remain a director and CEO through June 1, but will step down from his position as chairman of the board...

Management

JCPenney net sales drop 4.3 percent in Q1

For the first quarter ended May 5, 2018, total net sales at J. C. Penney Company, Inc. (JCPenney) decreased 4.3 percent to 2.58 billion dollars compared to 2.70 billion dollars for the first quarter ended April 29, 2017. The company said, decline in total net sales was primarily the result of the 141 stores that closed in the second and third...