JCPenney Narrows Q1 Loss, Raises FY Guidance

JCPenney logo 2013

JCPenney narrowed its Q1 loss to $167 million, or 55 cents per share, from the previous year’s net loss of $352 million, or $1.15 per share.

JCPenney Hires Mary Beth West as New CMO

Mary_Beth_Stone_West

Mary Beth West, who served on JCPenney’s board of directors since 2005, will resign from that position to become the retailer’s latest EVP, chief customer and marketing officer.

In Other News: Whistleblower Says JCPenney Overcharged Customers

Former JCPenney employee Robert Blatchford has filed a claim against the retailer under the State of Florida’s Private Whistleblower Act.

JCPenney Closes Foundry Stores, Plans Big & Tall Relaunch

TheFoundry-logo

JCPenney will relaunch the Foundry as in-store big & tall departments.

JCPenney Relaunching its Catalog

JCP catalog 2009

JCPenney plans relaunch the print catalog that it abandoned five years ago in hopes of boosting web sales.

JCPenney Closing 40 Stores

JCPenney logo 2013

JCPenney announced that it will be closing 40 of its approximately 1,060 stores by April.

Marvin Ellison to Succeed Ullman at JCPenney

Marvin Ellison

Marvin Ellison, the EVP of stores at Home Depot and a former Target executive, joins JCPenney as president and CEO-Designee in November this year and will succeed Ullman in August 2015.

Changing the Demographic: JCPenney Expands JF Label

David Plummer

In a bold move that is bringing them new millennial customers, JCPenney has expanded its JF J.Ferrar label beyond clothing and furnishings to incorporate sportswear.

In Other News: Seven Retailers Searching for CEOs

HSN's Mindy Grossman is being courted by retailers.

American Apparel, American Eagle Outfitters, Bon-Ton, Dollar General, Gordmans, JCPenney and Target are all in various stages of CEO searches.

Judge Rules JCP Interfered with Macy’s in Martha Stewart Deal

Macy’s has won its case against JCPenney over the Martha Stewart-branded home goods collections. In his decision, Justice Jeffrey K. Oing ruled that JCPenney interfered with the agreement Macy’s had with Martha Stewart Living Omnimedia. Justice Oing ridiculed the behavior of JCPenney’s executives, including former CEO Ron Johnson, writing, “At best one can only describe […]