J C Penney news and archive

Sycamore Partners could potentially acquire J.C. Penney

Sycamore partners, a private equity firm, is in preliminary talks to acquire J.C. Penney Co Inc out of bankruptcy. The news was reported by Reuters. J.C. Penney is currently in negotiations with creditors, but should these negotiations fail acquisition by Sycamore is an option. In May, J.C. Penney filed for bankruptcy protection after the...

Business

J.C.Penney revenue decreases 7.7 percent for Q4

The company said on Thursday its Q4 net profit dropped. Revenues slipped by 7.7 percent from the same period last year. The company's net profit for Q4 was 27 million dollars, down from 75 million dollars a year earlier. Revenues slipped to 3,384 million dollars. Compared to 2 percent a year ago, the profit margin of the company decreased to 1...

RetailFeatured

Want to sell more online? Speed is more important than style

True or false: consumers that love a certain fashion brand will buy items from said brand online, again and again. False, according to a new survey conducted by WGSN. After surveying 15,000 women aged 16 to 39 in the US and UK, the global fashion trend forecaster found out that brand love and purchase frequency online are not correlated. First,...

Apparel

J.C. Penney suffers net loss of 552 million dollars in Q4

J.C. Penney Company in its financial results for its fiscal fourth quarter reported a net loss of 552 million dollars (Rs 2,973 crores) or 2.51 dollars (Rs 135) per share. For the full year ended February 2, 2013 Company reported a net loss of 985 million dollars (Rs 5,305 crores) or 4.49 dollars (Rs 241.8) per share. Excluding markdowns related...

Apparel

J. C. Penney Q3 sales declined 26.1 percent

J. C. Penney for the third quarter of 2012 reported a net loss of 123 million dollars or 0.56 dollars per share. Comparable store sales for the third quarter declined 26.1 percent and total sales decreased 26.6 percent. Internet sales were 214 million dollars in the third quarter, decreasing 37.3 percent from last year. Gross margin was 32.5...

Apparel

J.C. Penney reports Q2 sales down by 22.6 percent

J.C. Penney announced financial results for its fiscal second quarter ended July 28, 2012. For the quarter, J.C. Penney reported an adjusted net loss of 81 million dollars or 0.37 dollars per share, excluding restructuring and management transition charges, inventory transition markdowns, gain on the redemption of the Simon REIT units, net of...