JC Penney Company Inc

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JCPenney strikes bankruptcy rescue deal Beth Wright | 10 Sep 20

JCPenney has struck a deal with Brookfield Property Group and Simon Property Group through which the firms will acquire substantially all of the US retail giant's retail and operating assets for US$1.75bn.


JCPenney lenders ask bidders to up offers? Hannah Abdulla | 7 Aug 20

A group of lenders managing the bankruptcy process of US retail giant JCPenney are reportedly asking interested buyers to up their bids after offers made in July were deemed too low.


Tailored Brands files for Chapter 11 bankruptcy protection Beth Wright | 3 Aug 20

US menswear retailer Tailored Brands, owner of the Men's Wearhouse, Jos. A. Bank, Moores Clothing for Men and K&G, has filed for Chapter 11 bankruptcy protection.


JCPenney to slash 1,000 jobs and shutter 152 stores Beth Wright | 16 Jul 20

JCPenney is to axe about 1,000 jobs and close 152 stores as the US retail giant proceeds with plans to emerge from both Chapter 11 and the coronavirus pandemic as a smaller, more financially flexible company.


Retailers begin to outline store reopening plans – Update just-style | 16 Jun 20

Debenhams, Brooks Brothers, and J.Crew Group are among the latest apparel brands and retailers to outline reopening plans after stores and online operations were closed temporarily worldwide as part of efforts to help limit the spread of the coronavirus (Covid-19) outbreak.


Sycamore Partners to make play for JCPenney? Hannah Abdulla | 9 Jun 20

Sycamore Partners, the private equity firm that was meant to acquire the Victoria's Secret brand from L Brands until the deal was axed recently, is reportedly in talks to acquire department store JCPenney, a move that would pull the firm out of bankruptcy. 


JCPenney to shutter 154 stores in first wave of closures Beth Wright | 5 Jun 20

Bankrupt US retail giant JCPenney is to shutter 154 stores as it proceeds with plans to emerge as a smaller department store chain, with additional closures expected in the coming weeks. 


US Q4 in brief – Boot Barn Holdings, VF Corp, PVH Corp just-style | 21 May 20

In the latest fourth-quarter filings from US apparel and footwear brands and retailers, Boot Barn Holdings has posted a fall in both earnings and revenue, while VF Corp and PVH Corp have both reported a net loss. Elsewhere, Oxford Industries has booked its twelfth consecutive quarter of positive comparable sales, while G-III Apparel Group saw profit rise but revenue fall.  


JCPenney files for bankruptcy protection Hannah Abdulla | 18 May 20

US retail giant JCPenney has filed for Chapter 11 Bankruptcy protection, a move that will see some of its near-850 stores close.


Global retail staff and salary reductions amid Covid-19 – Update just-style | 1 May 20

As the impact of the coronavirus pandemic spreads across the apparel and footwear industry, brands and retailers are moving from store closures to worker lay-offs or furloughs, as well as executive pay cuts. Here are the latest:


JCPenney talks with lenders on bankruptcy options? Beth Wright | 24 Apr 20

US department store retailer JCPenney Company is understood to be in advanced talks with lenders for an emergency loan that would fund its operations during a court-supervised bankruptcy.


Global retail closures as coronavirus spreads – Update just-style | 15 Apr 20

A raft of apparel and footwear brands and retailers including Next Plc, Primark, H&M, Nike and Gap Inc, are temporarily closing stores and suspending online operations as part of efforts to help limit the spread of the coronavirus (Covid-19) outbreak. 


US Q3 in brief –Boot Barn Holdings, VF Corp, Genesco just-style | 5 Feb 20

In the latest third-quarter filings from US apparel and footwear brands and retailers, Boot Barn Holdings has delivered an increase in both profit and revenue with the company "well-positioned" to deliver a solid finish to fiscal 2020, Stage Stores has narrowed its net loss, and American Eagle Outfitters has booked record sales. Elsewhere, J.Crew Group has announced an agreement on the terms of a transaction that will enable it to separate its J.Crew and Madewell brands into two independent companies and pursue a proposed IPO of Madewell. 


US holiday sales in brief – Target Corp, Zumiez, Urban Outfitters just-style | 16 Jan 20

It's been a mixed bag of holiday sales filings from US apparel and footwear brands and retailers as Target's holiday sales failed to meet company expectations but Urban Outfitters reported record results. Elsewhere, L Brands has lowered its fourth-quarter earnings guidance and Kohl's is now expecting fiscal 2019 diluted earnings per share to be at the low end of its guidance range.


US Q2 in brief – Boot Barn Holdings, VF Corp, Stage Stores just-style | 1 Nov 19

In the latest second-quarter filings from US apparel and footwear brands and retailers, Boot Barn Holdings has delivered what CEO Jim Conroy called an "outstanding" second-quarter, VF Corp has reaffirmed its full-year outlook, and Oxford Industries has posted its tenth consecutive quarter of consolidated comparable sales growth. Elsewhere, Genesco moved to a profit, while G-III Apparel Group has revised its full-year guidance in the wake of Trump's latest tariff hike. 


New JC Penney head of planning, allocation and pricing Michelle Russell | 16 Oct 19

US department store retailer JC Penney has appointed former Macy’s executive Laurie Wilson as senior vice president of planning, allocation and pricing.


JC Penney warned on potential NYSE delisting Beth Wright | 9 Aug 19

JC Penney has been warned of a potential delisting from the New York Stock Exchange (NYSE) after shares in the US department store retailer traded below US$1 for a period of 30 days.


US Q1 in brief – Boot Barn Holdings, VF Corp, Cherokee Global Brands just-style | 1 Aug 19

In the latest first-quarter filings from US apparel and footwear brands and retailers, VF Corp has raised its fiscal 2020 outlook, Cherokee Global Brands booked a mixed first quarter and announced it will officially rebrand to Apex Global Brands, Destination Maternity reported a challenging start to the year amid the news Marla Ryan will step down as CEO, while PVH Corp saw profits slip. Dick's Sporting Goods enjoyed higher sales as did Footlocker. 


JC Penney new hire to bolster stores and omnichannel Beth Wright | 31 Jul 19

US retail giant JC Penney has announced more leadership changes, bringing James DePaul on board as executive vice president of stores while Mike Robbins, executive vice president of stores and supply chain, leaves the company.


JC Penney denies debt restructuring claims Beth Wright | 22 Jul 19

US retail giant JC Penney has responded to reports the company has hired advisers to explore debt restructuring options, noting it has a "strong liquidity position" and is not preparing for a restructuring or bankruptcy.


JCPenney names Ejarque Lopez as GMM women’s apparel Leonie Barrie | 4 Jun 19

US department store retailer JCPenney Company has today (4 June) named Victor Ejarque Lopez as its senior vice president, general merchandise manager for women’s apparel.


US Q4 in brief – VF Corp, Boot Barn Holdings, Destination Maternity just-style | 23 May 19

In the latest fourth-quarter filings from US apparel and footwear brands and retailers, Iconix Brand Group reported a GAAP net loss, CEO of PHV Corp, Emanuel Chirico, said the company is "very pleased" with its fourth-quarter and full year 2018 results, and Guess Inc released its first results under new CEO Carlos Alberini.


JC Penney looks to new chief customer officer to revitalise brand Hannah Abdulla | 21 May 19

US retail giant JC Penney has announced another C-suite appointment, bringing Shawn Gensch on board as executive vice president, chief customer officer, to revitalise the brand and drive customer-centric strategies to grow store traffic.


JC Penney names new CFO as it eyes return to profit Beth Wright | 28 Mar 19

US retail giant JC Penney has announced another C-suite appointment, bringing Bill Wafford on board as executive vice president, chief financial officer.


JC Penney ups stores closures to 18 Beth Wright | 1 Mar 19

US retail giant JC Penney is to shutter 18 full-line stores this summer as part of its bid to return to profitable growth.


JC Penney continues to bolster leadership team Beth Wright | 28 Feb 19

US retail giant JC Penney has further bolstered its leadership team, naming former Gap Inc and Target Corp executive Michelle Wlazlo as executive vice president, chief merchant, as part of its bid to drive sustainable profitable growth.


JC Penney to focus on "higher margin" apparel Hannah Abdulla | 12 Feb 19

US retailer JC Penney is looking to tighten its core offering, ditching products like major appliances and focusing more on higher margin products such as apparel.


US Q3 in brief – Boot Barn Holdings, VF Corp just-style | 6 Feb 19

In the latest third-quarter filings from US apparel and footwear brands and retailers, Francesca's Holdings Corporation swung to a third-quarter loss of US$16.2m, PVH Corp posted what CEO Emanuel Chirico called a "strong earnings performance", and Abercrombie booked its fifth consecutive quarter of positive comparable sales.


US holiday sales in brief – Nordstrom, Citi Trends, Urban Outfitters just-style | 15 Jan 19

It's been a mixed bag of holiday sales filings from US apparel and footwear brands and retailers as Urban Outfitters reported record holiday sales, Kohl's raised its full-year earnings guidance on the back of a 1.2% rise, while US retail giant JC Penney is to shutter three stores this spring on the back of a 5.4% comp sales drop.


JC Penney to close three stores amid festive comp fall Beth Wright | 9 Jan 19

US retail giant JC Penney is to shutter three stores this spring as part of an ongoing evaluation of its store portfolio under new CEO Jill Soltau.

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